Socialists/economic fascists in the White House and in the Congress are taking us further down the welfare state road and a managed economy.

Perry Atkinson and I recently discussed the unfolding economic events.

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists. Ernest Hemingway

MAKE AMERICANS FINANCIALLY INDEPENDENT

The above Hemingway quote is a concise description of the welfare-warfare state. Money printing and endless wars are the federal government’s “tools” to manage the economy and butt in the disputes between foreign nations.

The welfare-warfare state is a financial, economic, cultural and military failure and yet both sides of the aisle in Washington keep funding it, a classic definition of “insanity,” doing the same thing over and over and expecting a different result.

Trump’s “big, beautiful bill” has all the elements of the GOP playbook, cut tax rates but maintain the welfare state. In fact, another welfare state intuitive is in the bill, namely, the federal government will give each newborn $1,000 who is born between January 1, 2025 and January 1 2029. The cradle-to-grave agenda of Bernie Sanders and others are being made possible by a Republican president and a Republican Congress.

Sen. Ted Cruz (R-TX) is one of the architects of the $1,000 giveaway, all of which has to borrowed and therefore will increase the national debt. Cruz will probably be a presidential candidate in 2028. Will his campaign slogan be? “I love the welfare state for newborns.” Ugh!

The welfare state culture is so embedded in our politics that Republicans can say with a straight face they are fiscal conservative and pro limited government. Hypocrisy has no limits in the nation’s capital.

The big three of the welfare state, Social Security, Medicare, and Medicaid, now has a fourth welfare program, taxpayer funded welfare for newborns.

With Republicans like these who needs Democrats?

What we are witnessing was made inevitable because of the FDR’s New Deal and LBJ’s Great Society.

John Flynn’s 1944 book, As We Go Marching, is one of the most prescient books written during World War II about the rise of domestic fascism. In 1975, Charlotte Twight’s echoed Flynn’s sentiments in America’s Emerging Fascist Economy. More recently, Twight’s Dependent on DC, updates her earlier book with a scathing critique of the welfare state.

Murray Rothbard’s essay, The Great Society: A Libertarian Critique, put another nail in the coffin of LBJ’s big government agenda. And Tom DiLorenzo reveals how economic fascism has unfolded overseas and in the United States.

Currently, the Trump’s administration wants to manage the flow of overseas goods that the American people want with tariffs, sanctions, threats, etc., How is that making America great again?

The Trump administration wants to replace “consumer sovereignty” with government control of trade. These statist policies must be “buried” once and for all.

Trump, the self proclaimed deal maker, is no advocate of free enterprise, but another president who thinks he can override the wishes of the American people by bullying countries with higher tariffs and trade restrictions.

To threaten Tim Cook, CEO of Apple, with a 25% tariff on iPhones manufactured overseas is the height of arrogance and a gross violation of property rights. In addition, Cook has a fiduciary to Apple’s shareholders and should tell Trump he is violating his corporate responsibilities.

Trump—and his minions in his administration and in Congress— apparently do not understand the basics of corporate governance. America’s CEOs should file a class action suit against the Trump administration for egregious interfering in their fiduciary duty to their shareholders.

If Trump wants to Make America Great Again, he would advocate Financial Independence, a concept that is at the heart of the Declaration of Independence.

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James Bovard on protectionism.

Recent interviews discussing the state of the economy with Perry Atkinson, Jim Peters, and Randy Durham.

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Dave Campbell and I discuss MAFI on the Clarity and Chaos podcast.

Col. Mike and Dr. Mike and I discuss Trump and his promises on the National Security Hour.

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Restoring free enterprise, medical freedom, and a constitutional federal budget.

The insufferable Jim Cramer reveals his economic ignorance in a recent CNBC rant.

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Tom DiLorenzo’s pamphlet, Axis of Evil, is now available at the Mises Institute.

Order a free copy of Rothbard’s money and banking classic monograph. Or, you can read it online here.

My December 10 talk on medical care.

America’s debt bomb.

Bob Murphy interviews Dr. Keith Smith of the Surgery Center of OK.

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Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin's autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022. He is also the author of Why the Federal Reserve Sucks.