This crisis is rooted in the failure to learn the lessons of 2008 and of every other recession since the Fed’s creation: A secretive central bank should not be allowed to manipulate interest rates and distort economic signals regarding market conditions. Such action leads to malinvestment and an explosion of individual, business, and government debt. This may cause a temporary boom, but the boom soon will be followed by a bust. The only way this cycle can be broken without a major crisis is for Congress both to restore people’s right to use the currency of their choice and to audit and then end the Fed.
Those of us who support real free trade must not let supporters of the USMCA get away with claiming the USMCA has anything to do with free trade. We must also fight the forces of protectionism that are threatening to start a destructive trade war. Also, we must work to stop the government from trying to control our economic activities through regulations, taxes, and (most importantly) control of the currency through central banking and legal tender laws.
If Washington – and the rest of us – really cared about Venezuelans we would demand an end to the terrible US economic sanctions on the country – which only make a bad situation worse – and would push for far more engagement and trade. And maybe we’d even lead by example, by opposing the real, existing socialism here at home before seeking socialist monsters to slay abroad.
The latest Republican tax plan has laudable features, such as allowing the use of tax-free education savings accounts for homeschooling. However, as long as Congress refuses to offset tax cuts with spending cuts, the benefits of tax cuts will be limited and short-lived.
Does the Trump Administration actually support al-Qaeda and ISIS? Of course not. But the “experts” who run Trump’s foreign policy have determined that a de facto alliance with these two extremist groups is for the time being necessary to facilitate the more long-term goals in the Middle East. And what are those goals? Regime change for Iran.
Could someone please remind Pompeo and Bolton that al-Qaeda are the bad guys?
If we are lucky, the next Fed-caused downturn will cause only a resurgence of 1970s-style stagflation. The more likely scenario is the type of widespread economic chaos not seen in America since the Great Depression. The growth of cultural Marxism, the widespread entitlement mentality, and the willingness of partisans of various sides to use force against their political opponents suggests that this economic crisis will result in civil unrest that will be used to justify new crackdowns on individual liberty.
President Trump and Congress should pursue a policy of free markets and free trade for all and bailouts for none.
Recent polls show that the majority of Americans approve of President Trump’s recent meeting with Russian President Vladimir Putin. Among Republicans, a vast majority support the meeting. Perhaps a good defeat in November will wake these neocon warmongers up.
Instead of worrying about protecting the Fed from President Trump, we should all worry about protecting the American people from the Fed. The first step is passing the Audit the Fed bill, which Congress should do before adjourning to hit the campaign trail. This will let the people know the full truth about America’s monetary policy. Auditing, then ending, the Fed is key to permanently draining the welfare-warfare swamp.