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This is why we can't have nice things. Last week we reported on Raytheon being fined for overcharging and bribery; and this week we learn that Boeing is in on the game as well. Are we getting what we pay for with military spending? Also today: two potentially major wars bubbling under Biden's "leadership." Finally...the Ukraine loan scam.
"President" Joe Biden called tens of millions of Trump supporters "garbage," and the mainstream media went into a frenzy doing what they do best: covering up for Democrats and attacking Republicans. But this time it backfired. Big time. Also today: US funds 70% of Israel's wars on its neighbors. Finally...a North Korea update.
At a recent Trump campaign rally, entrepreneur Elon Musk announced that the US budget should be cut by at least two trillion dollars over last year's budget. Ron Paul has some suggestions on where to start. Also today, WaPo owner Jeff Bezos reveals why the paper decided not to endorse anyone for president.
Earlier this month, US Rep. Matt Rosendale (R-MT) posted on Twitter/X, "End the Fed!" It turns out there is an interesting backstory to the Tweet so the Liberty Report decided to meet up with Rep. Rosendale to discuss the Fed and his strongly independent voting record in the House.
By Ron Paul
Public opinion polls consistently show the economy is one of the top issues, if not the top issue, for American voters. This may strike some as odd, since official government statistics show low unemployment and declining price inflation, suggesting the Federal Reserve has engineered a “soft landing” bringing down inflation without causing a recession. So why the concern over the economy? One reason is more people are realizing government economic figures hide the truth about the economy. “Recession Since 2022: US Economic Income and Output Have Fallen Overall for Four Years” is a Brownstone Institute research paper by Dr. E.J. Antoni, a research fellow at the Heritage Foundation, and Dr. Peter St. Onge, a fellow with the Mises Institute. It details how the federal government understates inflation, while making wages, profits, and economic growth appear stronger. Dr. Antoni and Dr. St. Onge use a more accurate measure of inflation than that used by government to uncover the true state of the economy. Their calculations show that the US economy has been in recession since 2022. The government claims that Gross Domestic Product (GDP) increased by approximately 13.7 percent from 2019 through the first half of 2024. When the more accurate inflation number is used, the result is a 2.5 percent decline in GDP. The federal government’s figures also show the American people’s disposable income increased by 12.9 percent from 2019 through the first half of 2024. However, when the more accurate way of calculating price inflation is used, it shows Americans’ disposable income declined by 2.3 percent. Dr. Antoni and Dr. St. Onge are hardly the first to expose how the government uses doctored statistics to make the economy look stronger. John Williams’s ShadowStats has regularly shown how government manipulates data to underreport unemployment and price inflation. Government distortions of economic data mislead the people regarding the true state of the economy. They also mislead Congress, the president, and maybe even the Federal Reserve. Until the Audit the Fed bill becomes law, we will not know for sure what data the central bank relies on. Making economic policy decisions based on flawed data enables politicians to ignore the dangers posed by Congress’s refusal to cut federal spending. Government spending puts pressure on the Federal Reserve to keep interest rates low. The Federal Reserve can keep interest rates low because the dollar’s world reserve currency status guarantees a strong demand for US dollars. A growing number of countries, though, are seeking alternatives to the dollar. One reason for this is resentment over the US government’s use of the dollar’s world reserve currency status to force other counties to abide by US demands. Saudi Arabia is moving away from exclusively using dollars for its oil trade. The “petrodollar” is a major reason the dollar has been able to maintain its world reserve currency status. If the dollar loses its world reserve currency status, America would face a major economic crisis. This crisis could lead to the collapse of the welfare-warfare state and the fiat money system that makes it possible. The danger is the replacement could be even worse as a frightened populace turns toward an authoritarian promise of security in exchange for restriction of liberty. However, the collapse could also result in a turn toward respect for the principles of liberty, limited government, free markets, and a foreign policy of peace and free trade. Those who know the truth must continue to educate our fellow citizens about the benefits of liberty.
JP Cortez is the Executive Director of the Sound Money Defense League, a nationally renowned policy group known for its fervent commitment to advocating for a stable and constitutional monetary system. With a passion for Austrian economics and a deep understanding of monetary history, Cortez has become a leading voice in the movement to restore sound money to its rightful place in society. We hope you enjoy this special interview!
Two journalists compiled all social media posts for the Israeli military's 749 Battalion. The results are astonishing. Also today, House Intel Chair claims "red line" crossed if North Korean troops fighting with Russia.
Turns out it wasn't the Russians or the Iranians! A bizarre plot was uncovered this week involving operatives from the UK Labour Party being dispatched to the US to assist Democratic Party presidential candidate Kamala Harris. But the plot thickens more when it turns out this is part of a larger UK plot to smash our First Amendment! Also today: Secretary of State Blinken back from Israel - mission success?
Politico has published at least two speculatory articles on what the top personnel in a second Trump White House might look like. Several prominent neocons are on the list. Will the neocons move back in and run the show? Also today, tens of thousands of soldiers are deserting the Ukrainian army. What happens when there is no one left to fight?
Over the weekend an obscure Telegram account leaked two apparently highly-classified US intelligence documents related to Israel's attack plans for Iran. Was it a genuine leak? Was it meant to obfuscate? Who benefits? It's a hall of mirrors. Also today: reports that Israeli soldiers are refusing orders to return to battle. Has war exhaustion set in?
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