Not only are modern monetary theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.
We like to think of the “deep state” as a conspiratorial entity. In reality, the term describes much of what the federal government does in broad daylight.
Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a national banking system, Lincoln paved the way to the Progressive Era and beyond.
EU Central Bank President Christine Lagarde has declared that anything that might lead to private currencies must be stopped. Yet, as F.A. Hayek noted, one way to confound central banks is through private currencies.
Cato's Clark Neily and Mike Fox give the most recent SCOTUS term a B- grade on criminal law. While they celebrate some unanimous victories like Barnes v. Felix (requiring courts to consider totality of circumstances in police use-of-force cases) and Martin v. United States (allowing federal tort claims against law enforcement), they express frustration with the Court's repeated refusal to hear cases involving the "petty offense doctrine," appellate waivers in plea bargains, and felon-in-possession gun laws—all issues with clear circuit splits that affect large numbers of people.
The episode concludes with a celebration of Fox's efforts that led to presidential pardons for John Moore and Tanner Mansell, achieving justice where the courts failed.
America recently celebrated Independence Day, but Americans were too quick to abandon their own individual freedoms and individual sovereignty and submit to the state.
The Fed is on the hook for an estimated one-and-a-half trillion dollars. Despite the recent headlines, that's not because of building renovations. It's a much larger cost blowout caused by big actions taken during the pandemic to help the economy: quantitative easing.
Today on the show, we talk to both a critic of these actions and someone who helped put those those actions in play.
The Trump administration has withdrawn its promised $4 billion for the California Bullet Train project because this project does not have a viable future. While they may complete the 171-mile Central Valley portion, the rest of the project is dead in the water.