Trump channels John "bomb, bomb Iran" McCain. The "peacemaker" turns American First on its head, which may trigger the death of the dollar.
Will Trump's "dealmaking" backfire in future negotiations?
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
The government and its chiefs do not have the powers of a mythical Santa Claus. They cannot spend except by taking out of the pockets of some people for the benefit of others. Ludwig von Mises
MAKE AMERICANS FINANCIALLY INDEPENDENT
During the 2008 presidential campaign Sen. John McCain, the Republican presidential candidate, in a response to a question about Iran, gave a few seconds rendition of the rock n’ roll song, Barbara Ann, with a horrendous twist, Bomb, Bomb Iran.
Trump green lighted the Israeli bombing of Iran justifying the “existential” nuclear threat the Iranian regime poses to the State of Israel. Even if Iran will produce one or dozen nuclear bombs—and Tulsi Gabbard the Director of National Intelligence testified that Iran is not building a nuclear bomb.
Who should we believe, Tulsi or Bibi—Israel’s PM? I vote for Tulsi.
Why are the media silent about the existence of Israel’s nuclear bomb stockpile estimated to be 80 or more?
For a sober assessment of the Iranian-Israeli conflict John Mearsheimer and Judge Napolitano dissect the Mideast conflict that Trump asserted he wanted a diplomatic solution. Instead, Trump has embraced the 1997 neocon’s playbook, eventual regime change in Iran.
A long term possibility of the Israeli attack on Iran could be the move away from the US dollar by numerous nations. This would reduce the demand for dollars, rise in import prices and higher price inflation in the US.
What would other nations use if they phase out their use of dollars in global trade?
The demand for gold has increased markedly. Could this the prelude to gold convertibility or the introduction of global currency backed by gold?
What we know for sure is the US national debt and chronic $2 trillion annual deficits will cause a financial crisis by within the next several years.
The “tell”will be the demand for US Treasury securities and US dollars. When foreign governments and overseas investors go on a “buyers” strike, then the federal government will be forced to reduce its gargantuan appetite for the people’s money.
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Perry Atkinson and I recently discussed the unfolding economic events.
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.
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.
Such BS