According to some commentators, the US banking crises is over, or at least can be easily managed by the Federal Reserve System. In addition, the Fed chairman has vouched for the health of the US banking sector.
Last Thursday, Enrique Tarrio, a reputed national leader of the Proud Boys organization was convicted in federal court of seditious conspiracy along with three-co-defendants. This conviction in a District of Columbia court represents a victory for the Justice Department which has now charged more than a thousand people with “crimes” related to the January 6 riot at the US capitol.
The Economist magazine in a recent editorial painted a rather positive image of the American economy. After encountering setbacks, the American economy often registers a buoyant recovery. Despite competition from rivals, America has retained her position as the world’s top economy. Some are bewildered by America’s enduring prosperity, but is it reasonable to expect less from a country designed to do business?
“No point in the field of political economy merits more thought and analysis than where to draw the line distinguishing the functions proper to government from the role assumed by all-out government—socialism. A good society is but a dream unless this issue be reasonably resolved.”
The talking heads on financial TV ask everyday where we are in the banking crisis. Is it over yet? After scooping up First Republic, JP Morgan’s Jamie Dimon said, “This part of the crisis is over.” After he said that, however, the shares of regional banks such as PacWest, Zions, and Western Alliance were cut in half. The market doesn’t believe Mr. Dimon.
Americans have long thought of themselves as people of action.
As Leonard Read noted in his article “How to Gain Liberty,” the sentiment “I want less talk and more action” is (or at least once was) common among Americans. It even extends to situations when people recognize that their liberties are threatened. But then the question arises as to what sorts of action are appropriate in defense of our liberties:
