The Free Market 13, no. 1 (January 1995)

The two-to-one vote in favor of California’s Prop. 187 is a milestone in the battle against the welfare state. It is a victory that will help reclaim individual liberty against centralized power.

Out-spent, smeared, and attacked by both left and right, grassroots activists put Prop. 187 over the top. The story of their triumph is an object lesson in how exploited American taxpayers can take back the liberty and property the ruling political class has systematically stolen from them for more than a century.

The Free Market 13, no. 1 (January 1995)

What program consumes the largest share of the federal budget? What program is predicted to go belly-up in short order by every knowledgeable observer? What program are the leaders of both parties committing to protect until it bankrupts the country and destroys what’s left of intergenerational amity? 

The Free Market 13, no. 1 (January 1995)

The election of 1994 was an unprecedented and smashing electoral expression of the popular revolution that had been building up for many months: a massive repudiation of President Clinton, the Clintonian Democratic Party, their persons and all of their works. It was a fitting follow up to the string of revolutions against government and socialism in the former states and satellites of the Soviet Union. The anti-government revolution has come home at last.

The Free Market 13, no. 2 (February 1995)

This past baseball season promised to be the most exciting in my lifetime. Then the players’ union opposed the owners’ demand for a salary cap and refused to work. Baseball struck out. In the battle over blame, the most curious call is the union’s for a “free market.” The most often-cited remedy is to remove the owner’s antitrust exemption. 

The Free Market 13, no. 2 (February 1995)

The Free Market 13, no. 2 (February 1995)

When anti-socialist, post-Soviet reformers of the Baltic states sought to reign in government power, they looked to solve the money problem first. Moscow held unlimited power to flood their economies with cheap money, and to fund itself as an imperial power lording it over other peoples. That had to end before the market economy could be restored.

The Free Market 13, no. 2 (February 1995)

One of the persistent Clintonian themes of the 1994 campaign still endures: if “it’s the economy, stupid,” then why hasn’t President Clinton received the credit among the public for our glorious economic recovery? Hence the Clintonian conclusion that the resounding Democratic defeat was due to their failure to “get the message out” to the public, the message being the good news of our current economic prosperity.

The Free Market 13, no. 2 (February 1995)

America’s bankers consider Robert Morris a hero. More than 15,000 of them belong to Robert Morris Associates. Founded in 1914, the RMA organization strives for professionalism in banking practice and considers ethics paramount.

So who is the revered figure after whom this association of ethical bankers is named? An RMA publication claims Robert Morris was an “American patriot who signed the Declaration of Independence and helped finance our Revolutionary War and establish our banking system.”

The Free Market 13, no. 3 (March 1995)

When a people rebels and declares its independence, a central state can let them go or beat them into submission. With the collapse of the Soviet empire, we’ve seen some of both. In Chechnya, and adjacent Ingushetia, however, the Yeltsin government chose mass murder to maintain its evil empire.

The Free Market 13, no. 3 (March 1995)

In 1994, bondholders lost hundreds of billions, thanks to Clinton’s monetary escapades. What happened? It’s a sad story of interest rates and their manipulation by government planners.

In 1993 President Clinton began with a plan to jump-start the economy. His view was simple: the economy was already rebounding, so all it needed was lower interest rates.