Global liquidity is expanding. In the past three months, the global money supply has soared by $4.7 trillion. This rapid increase started when the Federal Reserve panicked the first time and delayed the normalization of the balance sheet in June.

This week, the US Supreme court announced that it will consider throwing out the Mexican government’s suit in the case of Smith & Wesson Brands v. Estados Unidos Mexicanos. The Mexican government alleges that Smith & Wesson and wholesaler Witmer Public Safety Group Inc. are intentionally conspiring with middle-men to supply Mexican cartels with guns. 

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions who has a living memory from before that period.

For more than four years now, the Biden Administration has been insisting that the state of small business in America is better than it has ever been. This claim, however, is based on a single government statistic: the business applications metric published by the Census Bureau, which is a record of applications for an employer identification number (EIN).

Common Law Liberalism: A New Theory of the Libertarian Society by John Hasnas. Oxford University Press 2024. 328pp.

Sabrina Carpenter has been a star since she was 12, staring on Disney’s Girl Meets World. Now she’s a singer and, I’ve heard, she has broken records set by the Beatles. She’s recorded a catchy cover of Nancy Sinatra‘s 1965 hit “These Boots Are Made For Walking.”