To make America great again, every American citizen should know what was the main driver of America's success in becoming the world's superpower economically and militarily by the early 20th century. America's greatness then was primarily attributable to its spiritually-grounded culture and its form of government—a unique constitutional republic that empowered the people and the states more than elites and the federal government. Read More ›
The United States was founded on Free Trade. And, high tariffs. Domestically, the United States had exceptional economic policy. There were hardly any taxes, and the currency was reliably fixed to gold. Trade was Free between States. With what I've called "The Magic Formula" (Low Taxes and Stable Money), the US got richer — even with high tariffs with the rest of the world. Read More ›
Today, we are seeing a lot of the institutions and bad ideas of the Post World War II Consensus breaking down and collapsing. Among these is the rather stupid notion that economies should be managed by some combination of currency and interest rate manipulation, and “fiscal stimulus” spending that amounts to utter waste, for the simple reason that it has no justification except as “stimulus.” These are the conclusions of “Keynesianism,” which has been taught in all universities since the 1940s. Read More ›
President Wilson enacted the Federal Reserve Act in 1913. This allowed a consortium of private bankers to establish what amounted to a central bank monopoly currency issuer in the United States — although they took great pains to deny that was the goal. The Federal Reserve was never part of the government. It was the fourth attempt by private bankers to establish a monopoly currency issuer in the United States. Read More ›
