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Are Recessions Inevitable?

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Stocks fell last week following news that the yield curve on Treasury notes had inverted. This means that a short-term Treasury note was paying higher interest rates than long-term Treasury note. An inverted yield curve is widely seen as a sign of an impending recession.
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Endgame for the Fed?

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The Federal Reserve, responding to concerns about the economy and the stock market, and perhaps to criticisms by President Trump, recently changed course on interest rates by cutting its “benchmark” rate from 2.25 percent to two percent. President Trump responded to the cut in already historically-low rates by attacking the Fed for not committing to future rate cuts.
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Congress Spending Surge is National Suicide

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With a national debt approaching $23 trillion and a trillion dollar deficit for this year alone, Congress last week decided to double down on suicidal spending, passing a two year budget that has the United States careening toward catastrophe. While we cannot say precisely when the economic crash will occur, we do know that it is coming. And last week Congress pounded down on the accelerator.
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True Budget Hawks are Foreign Policy Doves

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During my presidential campaigns, well-meaning supporters would sometimes suggest I stop emphasizing opposition to overseas intervention and focus on fiscal issues. I disregarded the advice, not only because adopting a noninterventionist foreign policy is crucial to restoring constitutional government but because it is impossible to be both a budget hawk and a war hawk. This is shown by the constant failure of so-called fiscal conservatives in the Republican leadership to fulfill their promise to cut spending.

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Will Persian Gulf 'Tanker War' Become a Shooting War?

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The UK got a taste of its own medicine this week as Iran seized a British tanker, the Stena Impero, just two weeks after UK Royal Marines seized a tanker near Gibraltar carrying two million barrels of Iranian oil. As could be predicted, the US and UK media are reporting Iran’s seizure of the Stena Impero as if it were something out of the blue, pushing the war propaganda that “we” have been attacked and must retaliate. Media criticism of the UK is limited to claims that it has not put enough military into the Persian Gulf, not that it should never have seized the Iranian ship in the first place.
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Conservatives Against Liberty

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Recently several prominent social and populist conservatives have attacked libertarianism. These conservatives, some of whom are allies in the fight against our hyper-interventionist foreign policy, blame libertarianism for a variety of social and economic ills. The conservative attack on libertarianism — like the attack on the freedom philosophy launched by leftists — is rooted in factual, economic, and philosophical errors.
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Frog-Marching Trump Toward War on Iran

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Hypocrisy seems to have become a defining characteristic of US foreign policy, especially when it comes to Iran. After breaking the Iran deal last year and, de facto, forcing the Europeans to violate the deal in May, the US Administration is now complaining that Iran is no longer abiding by its obligations under the deal!
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Media and Politicians Ignore Oncoming Financial Crisis

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The mainstream media was too busy obsessing over Russiagate to notice that, according to an annual Social Security and Medicare Boards of Trustees report, the Social Security trust fund will run out of money by 2035. The trustees also reported that the Medicare Hospital Insurance trust fund will be empty by 2027.
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Boxed in by Neocons and the Media, Will Trump Launch Iran War?

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President Trump did the smart thing last week by calling off a US airstrike on Iran over the downing of an American spy drone near or within Iranian territorial waters. According to press reports, the president over-ruled virtually all his top advisors – Bolton, Pompeo, and Haspel – who all wanted another undeclared and unauthorized US war in the Middle East.
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Medical IDs: Enemy of Privacy, Liberty, and Health

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Last week, the House of Representatives voted in favor of a Labor, Health and Human Services, and Education appropriations bill amendment to repeal the prohibition on the use of federal funds to create a “unique patient identifier.” Unless this prohibition, which I originally sponsored in 1998, is reinstated, the federal government will have the authority to assign every American a medical ID. This ID will be used to store and track every American’s medical history.
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