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The 'Woke' Fed
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President Joe Biden has ordered the Financial Stability Oversight Council to prepare a report on how the financial system can mitigate the risks related to climate change. The Financial Stability Oversight Council was created through the Dodd-Frank financial regulatory reform act and is supposed to identify and monitor excessive risk to the financial system. The council is composed of the heads of the major federal financial regulatory agencies, including the Federal Reserve. Federal Reserve... Read the rest of the story by clicking on the Title link, below... The 'Woke' Fed Click on the headline to read the full story from Ron Paul Institute
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Frank Kendall, President Joe Biden's nominee for Air Force Secretary, when he answered questions before Congress on Monday ahead of his expected confirmation in the role. He faced a disturbing dearth of serious scrutiny about his very lucrative entanglements with defense contractors who've made him rich. The absence of criticism from an apparently apathetic US Congress makes his nomination all-the-more an illustration that the infamous Washington "swamp" is dirtier than ever. Daniel McAdams of... Read the rest of the story by clicking on the Title link, below... Pentagon Revolving Door Strikes Again - RPI's Daniel McAdams Interviewed Click on the headline to read the full story from Ron Paul Institute
Reporters joke the easiest job in Washington is CIA spokesman. You need only listen carefully to questions and say “No comment’ before heading to Happy Hour. The joke, however, is on us. The reporters pretend to see only one side of the CIA, the passive hiding of information about itself. They meanwhile choose to profit from the other side of the equation, active information operations designed to influence events in America. It is 2021 and the CIA is running an op against the American people. ... Read the rest of the story by clicking on the Title link, below... CIA (Dis)Information Operations Come Home to the US Click on the headline to read the full story from Ron Paul Institute
It seems like whenever Hunter Biden is in the news, the Biden staff screams, the media screams, “we all scream for ice cream.” On October 19, 2020, the Biden campaign and its protective cocoon of media faced the discovery of Hunter’s presumed laptop with details of his (and his uncle’s) influence peddling while Joe Biden was Vice President. The solution? Joe Biden went for ice cream and the media peppered him with questions about his confectionary choice (Spoiler: he ordered a two-scoop... Read the rest of the story by clicking on the Title link, below... Hunter Biden Is Back In The News. . . So The Media Goes Again For The Scoop Click on the headline to read the full story from Ron Paul Institute
While state and local governments, schools, businesses, and various venues have lately been removing mask and social distancing requirements for adults and children, the American Academy of Pediatrics (AAP) this week laid out its recommendation that all children and adolescents, ages two and older, who have not been “fully vaccinated” for coronavirus wear masks and “socially distance” in a wide variety of circumstances when they are outside their homes. The AAP’s mask wearing recommendation... Read the rest of the story by clicking on the Title link, below... Pediatricians Organization: Keep Kids Masked and Separated Until They Have Received Experimental Coronavirus Vaccine Shots Click on the headline to read the full story from Ron Paul Institute Should Syria Care What the US Says About its Elections? - Interview w/RPI's Daniel McAdams5/28/2021
Syrian president Bashar Al-Assad has just been returned for another term in office by a very wide margin and with significant voter turnout. EU and US officials began condemning the vote from before the election even took place, determining that there was no way it could be free or fair. Do they have a leg to stand on considering their "Assad must go" policy of the past nine years? RPI Director Daniel McAdams talks to RT International: Should Syria Care What the US Says About its Elections? - Interview w/RPI's Daniel McAdams Click on the headline to read the full story from Peace and Prosperity
Despite overwhelming evidence that the vast majority of children do not become seriously ill or pass on the virus, CDC Director Rochelle Walensky testified before Congress yesterday that they must continue to wear their masks! Even as everyone else is taking masks off. Is this science...or a power trip? Or child abuse? Today on the Liberty Report: CDC's Walensky To Kids: 'Put Yer Masks On!' Click on the headline to read the full story from “It’s like we created another industry in our state. The amount of money is staggering,” Andrew Schaufele, director of Maryland’s Bureau of Revenue Estimates, happily declared last week. The Biden stimulus plan is deluging governments across America with hundreds of billions of dollars of extra revenue that will allow politicians to stretch their power in ways that vex citizens long after the pandemic is over. One year ago writing for AIER, I asked, “Will the Political Class Be Held Liable For What They’ve Done?” Lockdowns at that point had already destroyed more than ten million jobs without thwarting the virus – a debacle that “should be a permanent black mark against the political class and the experts who sanctified each and every sacrifice.” No such luck. The article warned that “sovereign immunity… almost guarantees that no politician will face any personal liability for their shutdown dictates.” The political class is coming out of the pandemic with far more power and prerogatives. Biden’s stimulus windfalls for lockdown governors is like giving $100,000 bounties to drunk drivers who crashed their cars. Government employees have been the ultimate privileged class during Covid-19, collecting full paychecks almost everywhere while many of them stayed home and did little or no work. Maryland will receive between $55 billion to $60 billion in federal stimulus funds – equal to “11 percent of the state’s entire economy.” The Maryland legislature “celebrated” by giving bonuses to government employees and by funding many new programs. Many other states have similarly used federal windfalls to launch new initiatives. Biden and his Democratic congressional allies are exploiting the pandemic to change the reality of work in America. Biden’s stimulus package included a $300 per week bonus for unemployment compensation that means that anyone who earned less than $32,000 is better off on the dole than taking a job. The unemployment bonuses were provided even while many states had canceled any requirement for claimants to actively seek a job. Alexa Tapia, the unemployment insurance campaign coordinator at the National Employment Law Project, a worker advocacy group, derided work search requirements as “just another barrier being put to claimants, and it can be a very demoralizing barrier.” To assume that people are too fragile to look for a job sounds like a vast expansion of the Americans with Disabilities Act. Federal “generosity” to individuals who choose not to work is devastating small businesses unable to hire employees. Schools are some of the biggest beneficiaries of Biden’s handout bonanza. Biden’s Education Department is stocked with zealots who will likely exploit federal funding to dictate new curricula and mandate “equity” rules that could undermine local control of education. The same thing happened during the Obama administration when federal aid was used to bribe states into adapting “Common Core” standards that undermine students’ math competence. Teachers’ unions used their clout to keep schools shut down long after it was clear that reopening was safe. The Chicago Teachers Union declared, “The push to reopen schools is rooted in sexism, racism, and misogyny,” while the president of the United Teachers of Los Angeles declared that reopening schools “is a recipe for propagating structural racism.” But many teachers are collecting windfall bonuses thanks to the profusion of federal aid regardless of their unions blocking schoolhouse doors. Politicians are also exploiting the pandemic to seek to abolish fares for public transit. The Washington Post noted last week, “Transit systems for decades have been saddled with an obligation to partly support themselves through chasing ridership to increase revenue.” “Chasing ridership” is a euphemism for persuading people to voluntarily pay for a service. Sen. Edward Markey (D-Mass.) is pushing the Freedom to Move Act for federal subsidies to end local transit fares. But this is simply “Freedom to Move At Other People’s Expense.” Free fares could quickly become a Trojan horse. Turning riders from customers into beggars would remove some of the last incentives to provide reliable service. If public transit is made “free,” then the only people that transit officials will need to please are federal bureaucrats, members of Congress, and transit union bosses. Transit systems won’t need to worry about keeping travelers safe; a survey of lapsed New York subway riders found that “nearly 90%… said crime and harassment were important factors in determining whether they return to the system.” Making subway rides free would also distract attention from the miserable performance of public transit systems that were losing ridership long before the pandemic. When the Washington Metropolitan Area Transit Authority received a huge boost in subsidies from the Maryland and Virginia state governments a few years ago, it promptly responded by shutting down many subway stations for seemingly eternal maintenance since it no longer needed fare revenue. Many of the same activists who want to make public transit zero cost for users also want to sharply curtail the use of private transit: citizens who refuse to abandon their cars for “free” transit could be next on the enemies list. The Biden administration is sparing no expense to make parents grateful to Washington. Beginning July 15, the feds will begin delivering up to $300 per child to Americans’ bank accounts and mailboxes. The Washington Post noted that the administration “estimates 88 percent of all American children are slated to receive new monthly payments — with no action required.” Congress enacted a temporary program scheduled to end after December. But a temporary handout shifts the argument: instead of debating whether a program that deluges non-needy families with cash, the question will be whether needy children can be thrown into the street by cutting off aid. The Post noted that the handouts could “have significant political consequences as the White House seeks to reshape the US economy.” Actually, this is an attempt to vastly change the relationship of the federal government to the American people. Throughout history, rulers have used cash to buy submission. “Money is my most important ammunition in this war,” said Gen. David Petraeus, the supreme US commander in Iraq. Presidents and members of Congress have long relied on “money as a weapon system” to buy votes or undermine resistance to Washington. Government restrictions almost always follow government handouts. In 1942, the Supreme Court ruled, “It is hardly lack of due process for the government to regulate that which it subsidizes.” Because the Roosevelt administration had decided to drive up wheat prices, the Secretary of Agriculture acquired veto power over the use of every acre of cropland in the nation. In 1991, in a case involving federal subsidies, Chief Justice William Rehnquist declared that “when the Government appropriates public funds to establish a program, it is entitled to define the limits of that program.” Every subsidy creates a power vacuum that will eventually be filled by bureaucratic or political ambition. The more things are financed by subsidies, the more activities become dependent on bureaucratic approval and political manipulation. To depend on government subsidies means either to be currently restricted – or to be only one Federal Register notice away from being restricted. Subsidies are the modern method of humane conquest: slow political coups d’etat over one swath of American life after another. The only way to assume that subsidies are compatible with individual liberty is to assume that politicians and bureaucrats do not like power. Biden’s profusion of new handouts put a halo over his tax hike proposals and, perhaps more importantly, his plans to unleash the IRS to be far more aggressive against Americans. The more politicians promise to give some people, the more they entitle themselves to seize from everyone else. French philosopher Bertrand de Jouvenal wrote, “Redistribution is in effect far less a redistribution of free income from the richer to the poorer, than a redistribution of power from the individual to the state.” “Reciprocal plunder,” in economist Frederic Bastiat’s phrase, becomes the soul of political life. Post-pandemic policies are far more perilous because few Americans yet recognize how badly their rulers failed them. Instead, “temporary” programs will be extended and further divide Americans into two classes—those who work for a living and those who vote for a living. The more people who view government as their personal savior, the easier it becomes for politicians to demagogue to ever greater power. But as economist Warren Nutter warned, “The more that government takes, the less likely that democracy will survive.” Reprinted with permission from American Institute for Economic Research. Will the Pandemic Promote Political Power in Perpetuity? Click on the headline to read the full story from It is with great personal sadness and a profound realization of the intellectual loss to the cause of liberty that I announce the death of our dear friend Robert Wenzel, publisher of the Economic Policy Journal and Target Liberty. Robert Wenzel's two outlets, for the many in the know, were among the first websites to visit each and every morning. His Target Liberty was as eclectic and iconoclastic (when it comes to the statist status quo) as it was didactic and, yes, even entertaining. Every day, readers were left with a challenging mental lesson and also a great chuckle. Shaking our heads with Bob at the absurdities of the new "woke" movement. Bob was as great at pointing out the comical absurdities of post-modern life as he was at explaining complex economic concepts. He was a rarity in that he was a serious intellectual but he was also always able to see the comical and absurd nature of our current times. He was a brave man, often writing about challenging people on the streets of his native San Francisco on their wearing of masks and other things he found absurd in our steady descent into authoritarianism. He would very often share some of the tricks and turns of phrase he would use on people under the spell of the state. He was a thinker, to be sure, but he also was a doer! I had the sad task this evening of informing Dr. Paul (and Lew Rockwell) of Bob's passing, which Bob's close friend Chris Rossini had earlier passed on to me. Dr. Paul made one excellent observation about Bob - something rare in the world of intellectuals and thought leaders: though Bob rigidly adhered to the ideas of freedom and liberty, though he was very settled in the philosophy, he was also not unwilling to change his mind about certain things as circumstances warranted. While a vocal critic of Rand Paul the presidential candidate, for example, he later became of the most ardent supporters of Senator Paul as the most libertarian Member of the US Senate. Only the very smart and most confident are willing to factor in new inputs and adjust accordingly. I started reading Bob's Economic Policy Journal way, way back while working for Ron Paul on the Hill. I have a distinct memory of driving back from a little jaunt with our then very young children while living in Springfield VA and reading my wife, who was driving, some particularly amazing post from Bob's Journal (Target Liberty was launched several years later). "Can you believe this??? Wow!!" Bob and I had a kind of running joke as Dr. Paul and I did our daily Liberty Report: Hardly a week would pass without Dr. Paul and I bringing in something from Target Liberty, giving him full credit, and all of a sudden in the afternoon I'd get an email from Bob with the subject line "I'm watching!" and a link to where we mentioned him. He was also generous in promoting our Liberty Report. It was the best kind of symbiosis. I only met Bob in person one time. He was in DC while I was working for Dr. Paul and he suggested we meet for drinks at an open air pub in the city. The conversation was rapid-fire and sharply intellectual (at least on his part!!!), as I remember it. Strangely I know nothing about Bob's personal life - which in these days of "letting it all hang out" is quite refreshing - but he kind of struck me as a New Yorker. May have been. I had no idea. He kept his privacy, which I admired. The death of Robert Wenzel has not really begun to sink in. But the entire movement of pro-liberty people and free-thinkers has suffered what feels like a devastating loss. I cannot imagine waking up tomorrow morning and not having Target Liberty to visit. The world is a darker place without Robert Wenzel. Rest in peace, liberty warrior! Robert Wenzel, RIP Click on the headline to read the full story from
Why are the people who trespassed in the US Capitol Building on January 6th being detained for months in solitary confinement? Why have they been denied bail for mostly minor crimes? Why are they being held in particularly inhuman conditions despite for the vast majority no previous criminal charges? Is this justice...or political revenge? Also today: Press hypocrisy on Wuhan lab "conspiracy theory." And...some justice for Newsom's victims. Watch today's Liberty Report: Equal Justice? Jan. 6 'Insurrectionists' Rot In US Gulag Click on the headline to read the full story from |
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