In his 1963 essay, “The Negro Revolution,” Murray Rothbard observes that by the 1930s and 1940s American intellectuals had embraced two principles:
(1) all races and ethnic groups are intellectually and morally equal or identical, and (2) that therefore no one should be allowed to treat anyone else as if they were not equal, i.e., that the State should be used to compel absolute equality of treatment among the races.
Three weeks ago, the Trump administration sent out an order to the executive branch calling for federal agencies to “temporarily pause all activities related to obligation or disbursement of all Federal financial assistance” that could conflict with President Donald Trump’s agenda.
The order primarily targeted federal dollars doled out to so-called non-governmental organizations, often called “NGOs.”
Often various factors are perceived to be important in determining a currency rate of exchange. For instance, for some commentators an increase in the government foreign debt is regarded as pointing to a likely deterioration in economic fundamentals ahead. This provides the rationale for the selling of the currency of concern.
Today, I will sign a series of historic executive orders. With these actions, we will begin the complete restoration of America and the revolution of common sense. It’s all about common sense. — President Donald Trump’s inaugural address, January 20, 2025 (emphasis added)
An early mentor once warned me, “If the public knew the truth, the markets would be cut in half.” Decades later the stock market has soared tenfold, but so has the deceit.
We have a new administration coming in with a central promise of “truth.” Trump has placed what some call “radicals” in charge of key agencies and departments. The good news: this bold strategy may be the only way to cut through the noise to find the truth. The challenge: the truth sometimes hurts.
While acknowledging his great evils, future strategists and historians will one day likely recognize Osama bin Laden’s strategic acumen. With minimal resources or technology, Osama bin Laden managed to create immense socioeconomic damage and nearly destroy both of his main enemies—the “godless” Communist Soviet Union and the Zionism-supporting United States. Bin Laden achieved this using only one simple weapon, a basic understanding of economics, and thus, the immense harm that military spending does.
The Panic of 1819 was one of the first major economic and financial crises in American history. The panic led to widespread bank failures, unemployment, and distress, particularly in the western states.
At its September 2024 meeting, the Fed’s FOMC cut the target federal funds rate by a historically large 50 basis points and then justified this cut on the grounds that “The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance.”
