06/13/2018

Collapse Of The G-7

New York Sun

That photo of President Trump being glared at by the leaders of the big democracies has certainly gone viral. The picture from Quebec was met by the Times’ David Leonhardt with a column headlined “Trump Tries To Destroy the West.” The picture shows the President seated with his arms crossed and chin out, as he’s being frowned upon by Chancellor Merkel, President Macron, and Prime Ministers Abe and May, among others.

Say, does that remind of anything? Like, oh, possibly, one of those debates in the 2016 Republican primary? Remember that situation? There were 17 candidates at the start. It made for a veritable free for all. Only one of them, though, refused to promise to endorse the winner handed up by the GOP nominating process. Only one of them broke with Republican orthodoxy. And only one of them ended up in the White House.

Mr. Trump had the whole gang against him — including the Sun, on trade and immigration — but he stuck to his principles, if that’s what they were, and routed all 16 variations on GOP orthodoxy, from neoconservatives to paleo-conservatives to libertarians to the Bush dynasty. The party handed up a president like no other, to borrow the phrase that our columnist Conrad Black uses as the title of his new biography of Mr. Trump.

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In Search Of History

4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

-- Henry Hazlitt,

Shadow Stats Snapshot


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  • Unemployment:
    FreeMarket Central BLS: 4.05%
    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central November Year-to-Year: 2.87% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

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