In a post-Cold War world, there is an opportunity to find useful insights among even the New Right that Rothbard loathed. James Burnham‘s The Managerial Revolution produced important points about the relationship of government and business.
The Southern secession from 1861-65 is portrayed as a “lost cause” by supporters and an act of evil by its detractors. Murray Rothbard argued that the Confederates were seeking freedom from political oppressors, just as their ancestors had done in the American Revolution.
Since there is no genuine test of merit in government’s “service” to consumers, the bureaucrats have decided that the metric of success is commanding a bigger staff and a bigger budget.
Politico reports today: A bipartisan group of House lawmakers wants answers from Defense Secretary Pete Hegseth amid reports that President Donald Trump’s administration is gearing up to dismiss high-ranking military officers. “There are valid reasons to remove a General or Flag Officer, but there must be clear, transparent, and apolitical criteria and processes associated with … Read more
Crypto giant Coinbase said Friday that the SEC has agreed to drop its 2023 lawsuit against the company, signaling that the Trump administration is delivering on a campaign promise to end tight oversight of the industry. The lawsuit from the Securities and Exchange Commission, Wall Street’s main watchdog, had alleged that Coinbase was selling unregistered […]
The post Coinbase says SEC is dropping crypto lawsuit appeared first on Insider Paper.
The court was informed that Topiter has a prior conviction for arson in Northern Ireland, where he caused €300,000 in damages to a building,
S&P Futures are flat to high on limited volatility this morning. Chinese retailers are displaying strong gains on BABA eps results and AI strategy. SFM, DBX & PODD are all lower after earnings releases overnight. Next week earnings reports are due out from DPZ, HD, INTU, LOW, TJX, SNOW, CRM & NVDA. The Senate passed a budget blueprint overnight, the bill still faces a roadblock in Congress. Troubled Japanese car manufacturer Nissan is looking for a new partner, TSLA is being floated as a possibility. Flash PMI data is due out after the opening bell today. In the EU, Germany is schedule to hold elections on Sunday.
Writes “GS”, in response to recent articles on federal contractors and federal employees: Onsite observations of civil servants and their contractors I found what I believe to be averages: 25% hard workers and people of integrity like are found everywhere 50% that are average to below average 25% that are useless as in not working … Read more
by Leo Hohmann, Leo’s Newsletter: The crybaby U.S. Catholic Bishops sued the Trump administration on Tuesday over its decision to end funding of refugee resettlement, calling the action unlawful and harmful to newly arrived refugees and to the nation’s largest private resettlement program. In reality, they could care less about the refugees. What they really are […]
Doug Casey On The Coming Monetary Reset And Trump’s Impact On Gold & The Dollar
Via InternationalMan.com,
International Man: At $1.1 trillion, annualized interest on the US federal debt is now the second-largest budget item—and is on track to become the largest.
Meanwhile, long-term interest rates are climbing, even as the Fed lowers short-term rates.
Can the US government keep kicking the can down the road? Or will Trump have to reset the system?
Doug Casey: Starting in the 1960s, a growing number of people noticed the size of the debt and annual deficits. Even back then—when numbers were trivial compared to current levels—it was said this can only end up one of two ways: Either runaway inflation, where the dollar loses all value, or catastrophic deflation caused by massive defaults in debt.
It occurred to me, in the 1980s, that it could wind up with both happening, either in sequence or simultaneously in different sectors of the economy. While you couldn’t rule out a soft landing, the most likely eventual result would be financial and economic chaos.
Massive money printing and debt accumulation have gone on for something like 80 years, and the system has held together. Why should it end now? Maybe they can wring one more cycle out of the corrupt Keynesian system. That said, I think we have finally reached the actual crisis point. Although this certainly isn’t the first time the inevitable seemed imminent…
What’s genuinely different this time is Trump. For whatever reasons—yes, I know what the party line is—he and Elon are radically reforming the government and may yet change the downward trajectory of America. At least they’re throwing sand on the slippery slope.
I thoroughly approve of his massive firings of employees, disbanding agencies, and cutting the budget by hundreds of billions. The risk is that he might bring on a deflationary collapse. Many of the government grifters and their pals, who are getting rich through the likes of USAID, will have to radically reduce their spending. Many could wind up in bankruptcy, defaulting on their mortgages and other debt. That’s how a deflationary credit collapse could start.
Trump’s very familiar with bankruptcy proceedings. Having bankrupted numerous entities, he sees the dangers of bankruptcy. Will that scare him away from making more radical moves? I don’t think so. He sees a chance to both carve his name in stone and save what’s left of America. Plus, he sees what he’s doing as a path to personally bankrupt some of his enemies and hurt all of them. He has plenty of reason to be righteously vindictive.
He’s going for a full reset of the system. It’s risky because he has no philosophical core, just gut feelings. And no grasp of economics, just business experience (which is different). But something had to be done to keep the US from turning into a socialist cesspool like all the countries in Europe.
Along with massive deregulation, I expect he’ll do something with the monetary system.
The cuts that DOGE is making are spectacular and wonderful. If they can eliminate the deficit,…
