08/10/2018

Trump’s Ultimate Disruption

Daniel Henninger, The Wall Street Journal

Donald Trump’s disruptions to the domestic and global political order come and go so fast it can be difficult to assess their significance. Which parts are real and which parts are cotton candy?

The evening before the House election in Ohio’s 12th District, the Republican candidate said: “This has gained so much national attention, and we didn’t want that. We were trying to keep the national media out of it.”

Come again? Everyone knows that on Saturday President Trump sweated through an Ohio rally for a state senator whose name probably half the people reading this can’t identify as Troy Balderson.

The national media tsunami that just washed over central Ohio depicts Mr. Balderson as another anonymous foot-soldier in the Trump party, formerly known as the GOP. It is no doubt true that Mr. Trump, with his insistently constant public presence, has disrupted the already weak standard model of America’s political parties as arbiters of candidates and ideas.

If so, we shouldn’t let Mr. Trump’s feud with Charles and David Koch get flushed like so many others. It was a significant event.

In an interview, Charles Koch said trade wars and prosperity were incompatible and that his organization’s financial support wouldn’t depend on party affiliation.

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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


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.05%
    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central July 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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