Not since 1981 has the inflation rate been higher than May's rate of 8.6%. Meanwhile, the Fed's idea of "quantitative tightening" is cutting its portfolio 0.5% over eight months.
The Federal Reserve is raising interest rates in hopes of reversing some of the inflationary damage it has done for more than a decade. Unfortunately, the Fed already has done incalculable damage to the economy.
Progressives have long pushed for a state dominated by a new class of "scientific" experts who are supposedly nonpolitical and pursuing only "good government." It's a fantasy many people still believe.
Not only must the war against progressivism be fought with a religious fervor, but it must also be, in Rothbard’s words, “openly and gloriously reactionary.”
