Introductory

Paul Krugman is world-weary. He's tired of being correct, tired of others being incorrect, and tired of the media for failing to make all of this known. He's especially tired of Ron Paul.

In the United States, both major parties are very fond of using the power of government to prohibit voluntary transactions among consenting adults. They merely disagree on which things to ban under pain of arrest and imprisonment.

Murray Rothbard told us that liberty is what allows human flourishing, that liberty requires private property rights and the non aggression principle (NAP), and that this nation was conceived in liberty.

Economics has been in trouble for decades, ever since mathematics replaced what should properly be known as economics. In many ways, the science was killed, but it's not dead enough for some anti-economics leftists who want all of economics to be abandoned permanently.

Some states are attempting to take control of federal lands within their own borders. But even if the states succeed at this, fewer federal expenditures on federal lands won’t translate into lower taxes for anybody.

Consumer prices have been stable, but we should pay attention to 2014's decline in the money supply which mirrors a similar decline from 1927 and 1928, which was followed by a collapse in industrial production.

Economist Jeffrey Sachs is complaining that some new drugs cost "too much." But after we sift through all the intellectual property rules, the FDA regs, and the government subsidies, it's impossible to guess what a "correct" price for the drugs might be.

In 1925, Winston Churchill, in spite of massive wartime inflation of the pound sterling, restored the gold standard at the old pre-war exchange rate. This set off a chain of events that led to the 1929 crash in America, and the rise of Keynesianism.

Both the left wing and right wing in the United States today use nullification as a tactic against federal law, even though nullification is clearly illegal according to modern legal interpretations. Nullification isn’t a legal tactic, though. It’s a political one.

Asset-price inflation is being ignored as pundits focus on consumer goods. But if we look at asset prices, the carry trade, and commodities, we have reason to believe that the current boom is entering a stage similar to what we saw in 2007.