Tariffs

Iran and America’s new protection racket

“Whoever rules the waves rules the world” – Alfred Thayer Mahan. Would Donald Trump have attacked Iran on February 28 if the Supreme Court had not ruled against his tariffs on February 20? The two issues may seem unrelated. Yet, as a fascinating piece by Captain John Konrad has pointed out, a closer inspection of Trump’s international agenda reveals his administration’s intense focus on trade, energy and maritime control – and that might help explain the otherwise inexplicable folly of the situation in the Strait of Hormuz.  Trump is determined to bring about an American Golden Age. That involves controlling gas and oil, aggressively reducing China’s expanding control of shipping lanes, and

Strait of Hormuz

The problem with Thomas Massie

Thomas Massie’s predicament, as he fends off a Trump-backed challenger – and Trump himself – in the Republican primary for his seat in Congress, is symbolic of the vexed relationship libertarians have with the right these days. Massie was not only a Tea Party Republican when he was first elected in 2012, he was a Ron Paul Republican, inspired by the longtime, philosophically libertarian Texas congressman who made his second bid for the GOP presidential nomination that year. The Commonwealth of Kentucky had sent Paul’s son, Rand, to the US Senate two years before, and its 4th congressional district put Massie in the House. Libertarians are natural junior partners in

Thomas Massie

The Supreme Court is right to reject Trump’s tariffs

At a rally in Georgia on Thursday night, President Trump declared that he couldn’t wait “forever” for the Supreme Court to rule on the legitimacy of his sweeping tariff policy. Whether or not the court was listening to his complaint, forever arrived today as it handed Trump a thumping defeat. It struck a blow not only for fiscal but also political sanity. Government intrusion upon the free enterprise system is bound to prove inimical to prosperity and liberty The language of the ruling was as lapidary as it was persuasive. “President asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration and scope,” Chief Justice John Roberts wrote in the

Trump’s Greenland caper will heighten inflation

On February 24, Donald Trump will deliver the first State of the Union speech of his second term as president. That impending date goes a long way toward explaining Trump’s avidity for annexing Greenland – sooner rather than later – as the centerpiece of his program for restoring an American golden age of imperial power. Nothing would please Trump more than to be able to declare mission accomplished when he addresses Congress in February. Far from backing away from the issue, Trump, who will travel to Davos next week, is doubling down. He seems convinced that he can cow European leaders into submission, but the more he badgers them, the

Greenland