The Bureau of Democracy, Human Rights and Labor (a branch within the US State Department) releases annual ‘Human Rights Reports’ on 194 different countries around the globe. Their 2021 report for Ukraine was released in April of this year. Despite its relevance to whether US intervention in the RU-UA war is merited, the report received zero media coverage.
Since the awarding of the Nobel Prize in economics to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig, most of the media interest has, understandably, concentrated on Bernanke.
British school children learn about the Glorious Revolution of 1688 which installed without bloodshed a new bill-of-rights respecting monarchy (William and Mary) on the throne in the place of the autocratic short-reigning King James. The Protestant elites feared his dismantling of restrictions on Catholics and his geo-political rapprochement with France under Louis XIV. They opted for Dutch King William.
Now there is a new lesson: the inglorious coup against PM Liz Truss in office just 7 weeks.
The battle for political supremacy in the West has been decided. The so-called progressives have won; conservatives and libertarians have lost. The “march through the institutions,” started by the misguided 1968 generation, has been successful, and their children and grandchildren are now at the helm. Eco-socialist, cultural Marxist, in short: bolshewoke ideas prevail in politics and culture, public administration, media, schools, universities, and increasingly even in business. At accelerating speed.
In recent decades, every instance in which the economy contracted two quarters in a row has coincided with a recession. Nonetheless, the Biden Administration and the leadership at the Federal Reserve insist there is no recession now, nor is one even in the works.
In a recent essay, I explained how over time the US abused its responsibility to control the supply of dollars, the world’s premier reserve currency for settling international trade accounts among nations. This abrogation of its duties is leading to the likely adoption of a new reserve currency, commodity based and controlled not by one nation but by members, all watchful that the currency is not inflated.
Most economists believe that a general decline in the prices of goods and services is bad news because it is associated with major economic slumps such as the Great Depression. In July 1932, the yearly growth rate of US industrial production stood at –31 percent whilst in September 1932 the yearly growth rate of the US Consumer Price Index (CPI) stood at –10.7 percent.
I was on The Tom Woods Show on Friday, and the two of us talked about secession at all levels of government, plus some details about my new book, Breaking Away.
Home price growth of the sort we’ve seen in recent years simply cannot be sustained without a continued commitment to easy money from the central bank, and it shows.
