In an earlier column, I wrote about the greatness of Man, Economy, and State. I’d like to continue with a discussion of another great book of his, Power and Market. Actually, that book was intended to be part of MES, but owing to the insistence of one of the readers for the Volker Fund, which funded the publication of MES with Van Nostrand, it had to be removed from the book.
The entire narrative of “de-dollarization” is not merely economically flawed—it is, at its core, a collectivist delusion.
Bernie Sanders and Alexandra Ocasio-Cortez have been making headlines on their “Fight Oligarchy” tours throughout the country, drawing large, enthusiastic crowds wherever they have gone.
President Donald Trump this morning reiterated that he thinks US monetary policy should be more like that of the European Central Bank. Trump also complained that Fed Chairman Jerome Powell and the Fed’s Federal Open Market Committee (FOMC) was unlikely to cut the target federal funds rate even though Trump believes the target should be lowered. According to Fox News:
The Israeli state and its supporters view the American taxpayers as people to be exploited and defrauded for the benefit of a regime that offers Americans nothing in return.
The US assessment goes against the claims from Israeli Prime Minister Benjamin Netanyahu, who launched the war under the pretext of preventing Iran from obtaining a nuclear weapon.
Jet Blue Airways reported yesterday that it is reducing flights and parking aircraft as “soft travel demand” is impacting the airline’s revenue.
In its coverage of the announcement, USA Today notes that falling demand is not only impacting Jet Blue:
[M]ajor U.S. airlines are scaling back capacity ahead of the typically busy summer travel season as they look to protect fares and adapt to weaker demand.
Recent proponents of tariffs in the United States—including President Donald Trump—can’t seem to decide on the core purpose of their own policy: What exactly are the tariffs supposed to achieve? Their true purpose seemingly depends on who you ask—and which arguments you make against them. Tariffs are effectively being touted as a mystical cure-all for the many ailments supposedly afflicting the American economy.
