In 2012, Barack Obama warned that the United States would fall into a depression if Ron Paul’s plan to cut $1 trillion from the federal budget were enacted.

Wait, I beg your pardon. It wasn’t Obama who warned that budget cuts would lead to a depression.

It was Mitt Romney.

Romney went on to become the nominee of the self-described free-market party.

An ideological rout is complete when both sides of respectable opinion take its basic ideas for granted. That’s how complete the Keynesian victory has been.

The Tenth Amendment Center covers a recent podcast by Jeff Deist: 

Last week, Mises Institute President Jeff Deist released a podcast featuring a discussion about the political future of libertarianism, advising libertarian activists to embrace decentralization and de-federalization as a foundational strategic goal.

For anyone who’s been following Major League Baseball in recent years, it’s apparent that the memo has gone out that now is the time to wring one’s hands over a lack of African-American players. Just this month, Hank Aaron lamented that MLB is “a dying sport as far as African-Americans [are concerned.]”

The crisis in Venezuela is the most modern illustration of the horrific consequences of socialism and the devastating reality of hyperinflation. What makes this disaster all the more infuriating is that it could have been avoided with a basic understanding of history.

There is a widespread opinion that liberalism is distinguished from other political movements by the fact that it places the interests of a part of society — the propertied classes, the capitalists, the entrepreneurs — above the interests of the other classes. This assertion is completely mistaken. Liberalism has always had in view the good of the whole, not that of any special group.

My thanks to The Lens in Washington state for covering Saturday’s Mises Circle in Seattle, with a lot of attention to my talk on “Three Lies You’ll Hear from the Candidates this Year”.