The Fed is patting itself on the back. Its manipulation of the economy has put it "in such a good place." Have they really done it? Does central planning work? Of course not! A serious financial crisis is ahead.
By Ryan McMaken
Advocates for marijuana legalization won another victory this year as voters in Michigan voted to approve legalization of recreational marijuana in last week's election.
This comes only a month after Canada finalized its legalization of recreational marijuana, making it only the second country where the national government has legalized nationwide recreational use.
Nevertheless, with the addition of Michigan to the eight other states that have legalized recreational marijuana (not counting the District of Columbia), 78 million Americans now live in jurisdictions where it's been legalized.
Were these states to form their own country, it would be the nineteenth largest country in the world — larger than the United Kingdom and France.
This new reality has already made itself felt in federal policy.
In 2017, Congress voted to deny the Justice Department funds to enforce federal laws against medicinal marijuana.
And when now-outgoing US Attorney General Sessions announced plans to crack down on marijuana use that had already been legalized at the state level, he received bipartisan opposition in Congress. Not even republicans in Congress from pro-legalization states want anything to do with a ratcheting up of the Drug War.
Also pending in Washington is the "Strengthening the Tenth Amendment Through Entrusting States (STATES) Act" which, is essentially a "states' rights" bill supported by both parties in the name of reining in the drug war. Its purpose is to recognize what the Tenth Amendment already makes clear: that the federal government has no authority to dictate to states as to what people can eat or smoke.
One shouldn't expect many politicians to apply this philosophy across the board, although recognizing the importance of decentralization in the Drug War is a good first step.
Trump has suggested he will support the bill.
Illinois and New Hampshire may be next on the list for legalization, perhaps in 2020.
This article was originally published at The Mises Institute.
By Chris Rossini
The British want out of the European Union, but it's not going so well. Once a country sacrifices its sovereignty, it's not easy to get it back.
The current "deal" is that the British "leave" the EU in name only.
Americans can imagine it to be like the following analogy:
It's 1776 and the American colonists have had enough of the British Crown.
It's time to secede.
Thomas Jefferson writes King George III the following memo:
"Your Highness, we have a lot of grievances and have prepared a Declaration of Independence. (See attached).
And back comes King George III's response:
"Tom, thanks for writing, but that's not going to work for us over here.
Power NEVER wants to let go.
The Brexit "deal" conforms perfectly to that fact.
A new study by Brown University has found that the post 9/11 wars have, when all totaled up, cost an estimated $5.9 trillion (and counting) as interest on the borrowed money continues to accrue. What did we get for our money? Safety and security? No. More threats and more wars. Was the whole thing a scam?
By Chris Rossini
It's the same old story from the one-party state: They're all spending (i.e., wasting taxpayer money) at breakneck speed. Government doesn't stop at what they're able to rip off from our incomes. No....They go WAY beyond that.
Drowning in $21 TRILLION in debt, the federal government spent $100 billion more in October of this year than what it took in from taxation. Bloomberg reports that this was a 60% jump from October of last year!
Remember that government is not a wealth-generating institution. It is parasitic. It's a taker and waster.
The more that government spends, the more it undermines the wealth generating economy.
Every dollar that is taken from you by government could have been used to improve your lot in life. Those opportunities are now gone, never to be realized.
Will government raise taxes to fix its financial distress?
Again, bad deal for you. The last thing that you need is for them to take more!
Will government issue even more debt?
Bad deal for you.
The more private savings that are sent to government, the less private savings are available for the productive economy. Government grabbing of resources crowds out resources that could have been used to satisfy people's urgent economic desires.
Will the government lean on the Federal Reserve to create money out-of-thin-air to finance its deficits?
Once again, VERY bad deal for you!
For every new dollar that the Fed creates, the money in your wallet and bank account lose purchasing power. Prices will continue to rise around you.
Perhaps people will need a third job (many people already have two) just to stay afloat.
This is not a Republican/Democrat thing anymore, even though that's where your attention is carefully steered.
This is a Power versus Liberty issue.
Power is going nuts and it sees no restraints to its actions.
Everyone's property and income is ripe for the taking....including yours.
The surprise resignation of Israeli defense minister Avigdor Lieberman over a ceasefire agreement with Gaza - after a botched Israeli raid broke the initial ceasefire - has brought Israel to the brink of snap elections. Who are the main players and what to expect?
The International Atomic Energy Agency has again found Iran in compliance with the JCPOA nuclear deal - despite the US re-imposition of sanctions. Trump's National Security Advisor, John Bolton, said this week he would "squeeze hard" until the "pips squeak." Will sanctions after sanctions work...or are they just isolating the US?
By Ron Paul
It’s not often that US Government officials are honest when they talk about our foreign policy. The unprovoked 2003 attack on Iraq was called a “liberation.” The 2011 US-led destruction of Libya was a “humanitarian intervention.” And so on.
So, in a way, Secretary of State Mike Pompeo was refreshingly honest last week when, speaking about newly-imposed US sanctions, he told the BBC that the Iranian leadership “has to make a decision that they want their people to eat." It was an honest admission that new US sanctions are designed to starve Iranians unless the Iranian leadership accepts US demands.
His statement also reveals the lengths to which the neocons are willing to go to get their “regime change” in Iran. Just like then-Secretary of State Madeleine Albright said it was “worth it” that half a million Iraqi children died because of our sanctions on that country, Pompeo is letting us know that a few million dead Iranians is also “worth it” if the government in Tehran can be overthrown.
The US Secretary of State has demanded that Iran “act like a normal country” or the US would continue its pressure until Iran’s economy crumbles. How twisted is US foreign policy that Washington considers it “normal” to impose sanctions specifically designed to make life miserable – or worse – for civilians!
Is it normal to threaten millions of people with starvation if their leaders refuse to bow down to US demands? Is the neoconservative obsession with regime change “normal” behavior? Is training and arming al-Qaeda in Syria to overthrow Assad “normal” behavior? If so, then perhaps Washington’s neocons have a point. As Iran is not imposing sanctions, is not invading its neighbors, is not threatening to starve millions of Americans unless Washington is “regime-changed,” perhaps Iran is not acting “normal.”
So what is normal?
The continued Saudi genocide in Yemen does not bother Washington a bit. In fact, Saudi aggression in Yemen is viewed as just another opportunity to strike out at Iran. By making phony claims that Yemen’s Houthis are “Iran-backed,” the US government justifies literally handing the Saudis the bombs to drop on Yemeni school busses while claiming it is fighting Iranian-backed terrorism! Is that “normal”?
Millions of Yemenis face starvation after three years of Saudi attacks have destroyed the economy and a Saudi blockade prohibits aid from reaching the suffering victims, but Secretary Pompeo recently blamed Yemeni starvation on, you guessed it: Iran!
And in a shocking display of cynicism, the US government is reportedly considering listing Yemen’s Houthis as a “terrorist” organization for the “crime” of fighting back against Saudi (and US) aggression. Labeling the Yemeni resistance a “terrorist” organization would effectively “legalize” the ongoing Saudi destruction of Yemen, as it could be justified as just another battle in the “war on terror.” It would also falsely identify the real culprits in the Yemen tragedy as Iran, which is repeatedly and falsely called the “number one sponsor of terrorism” by Pompeo and the rest of the Trump Administration neocons.
So yes, Secretary of State Mike Pompeo told one wicked truth last week. But before he demands that countries like Iran start acting “normal” or face starvation, perhaps he should look in the mirror. Are Pompeo and the neocons “normal”? I don’t think so.
The weekend commemoration of the end of World War I, and particularly the speech from the French president, demonstrate why the "war to end all wars" did not at all end all wars. They still don't get it, so we are forced to repeat it. How does our current policy look so much like that of the countries careening toward disaster in 1914?
While the average person is propagandized into thinking gold isn't money, the elites know better. He who has the gold, makes the rules, and many nations are either repatriating gold, or buying it outright. Why now? Can they see the writing on the wall for the U.S. dollar?