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February 12, 2021
James Bovard

Sovereignty Still Rests with the People, Not Congress

“No amount of selective quotes from the Constitution by Raskin and other righteous legislators will curb the contempt that politicians have richly earned. Many Americans instinctively recognize that, as Thomas Paine declared, ‘the trade of governing has always been monopolized by the most ignorant and the most rascally individuals of mankind.'” ~ James Bovard

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Nicolas Cachanosky

How Will We Pay for a $1.9 Trillion Spending Bill?

“Politicians are quick to ignore the costs of government spending in proposing legislation and obscure those costs by issuing debt rather than raising revenues. It is politically popular to issue debt and send checks to everyone. The benefits of the policy are clear: people get checks. The costs, which ripple out through financial markets as interest rates are bid up, are difficult to tie to the policy.” ~ Nicolás Cachanosky

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Robert Hughes

Weakening Economic Expectations Pull Down Consumer Sentiment

“Consumer sentiment fell in early February, driven by a weaker economic outlook, especially among lower-income consumers. Apprehensive consumers may slow the economic recovery.” – Robert Hughes

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William J. Luther

Monetary Policy in a Pandemic

“The Fed’s new lending programs were not very helpful, and they come at a potentially high cost. Insofar as they were designed to allocate credit, as opposed to merely providing liquidity, they amount to an expansion of the Fed’s mandate. And, although the extent of the Fed’s credit allocation was limited this time, it has set a dangerous precedent, which risks subjecting the Fed to even more political influence going forward.” ~ William J. Luther

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Jeffrey Tucker

A Currency that Rises in Value Will Change Everything

“Maybe widespread ownership and use of Bitcoin and other cryptos can make a cultural and economic contribution to converting us from profligate to thrifty in the way our great-great grandparents could celebrate. After all, it was they, and the gold standard under which they lived, that set us on the course to building a modern and prosperous way of life that inflationary paper currency has done so much to reverse.” ~ Jeffrey Tucker

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Romans Pancs

A Vaccine Auction

“As long as the problems of efficiency and distributive justice are separable, one can leave vaccine allocation to a (thoughtfully designed) market while leaving it to elected officials to debate and pursue, at their own pace, the kind of distributive justice that they think their constituents deserve.” ~ Romans Pancs

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Art Carden

Julian Simon: Important Enough to Name Your Kids After

“Simon was a model mind and an outstanding intellectual citizen. He thought through the theory and formulated his hypotheses very carefully. He tested his hypotheses against the data. Importantly, he took real and consequential action based on his beliefs–at great risk to his own reputation, but to the everlasting benefit of the rest of us.” ~ Art Carden

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