Eric Schliesser on the likely cronyism from Trump's tariffs

From my own, more (skeptical) liberal perspective tariffs are an expression of mistrust against individuals’ judgments; they limit and even deny us our ability to shape our lives with our meaningful associates as we see fit.  And tariffs do so, in part, by changing the pattern of costs on us, and, in part, by altering the political landscape in favor of the well-connected few.  

Of course, in practice, tariffs are always hugely regressive by raising costs on consumer products.  This is, in fact, a familiar effect of mercantilism and has been a rallying cry for liberals since Adam Smith and the Corn league.  That is, some of the most insidious and dangerous effects of tariffs are evidently political in character.  They create monopoly profits for the connected few, who can, thereby, entrench themselves against competitors, regulators, and consumers.  It is well known that once a tariff is entrenched it is incredibly difficult to remove.  They create permanent temptations to bribe the executive and those with access to him.  

Watch for stories about import-quotas, tariff holidays, and ad hoc tariff exemptions to appear in the press and subsequent policy.  Political and economic uncertainty is generally a self-reinforcing process.  To undo it more and more actions by the executive are demanded by a scared public manipulated by profit-seeking adventurers.  It’s entirely predictable we’ll see the rise of a system of selective subsidies and cartels as Trump Tariffs are entrenched. 

~ Eric Schliesser, professor of political science at the University of Amsterdam

(Quoted by Lew Rockwell in "Trump's Insane Tariff Policy," April 17, 2025

Ron Paul on Biden asking for another $24 billion to support Ukraine in war with Russia

As Maui Burns, Biden Demands Another $24 Billion…For Ukraine! 

I am not a big fan of Federal Government disaster relief. Too much of the time the money never gets to those who need it most, and too often Washington’s armies of disaster “experts” are more interested in pushing people around than helping them. 

Nevertheless, it’s hard to look at recent footage of the devastation in Maui and then hear President Biden tell Congress that he needs another $24 billion for Ukraine. How can this Administration continue to justify tens of billions of dollars for this losing war that is not in our interest while the rest of the United States disintegrates? 

Biden’s new $24 billion request comes on top of well over $120 billion already spent to fight the US proxy war on Russia in Ukraine. Heritage Foundation budget expert Richard Stern has done the math and determined that Biden’s spending on the Ukraine war thus far will cost each and every American household $900. How many Americans would rather have those 900 dollars back in their pocket rather than in the pockets of Lockheed-Martin, Raytheon, and Ukraine’s oligarchs? 

Recent surveys have shown that a majority of Americans could not afford to cover a sudden $1,000 emergency. Will Americans connect the dots and realize that the reason they can’t find that $1,000 for an emergency is because the neocons have already sent it to Ukraine? 

Ukraine has long been known as among the most corrupt countries on earth and not long ago investigative journalist Seymore Hersh wrote that Ukrainian president Vladimir Zelensky has embezzled at least $400 million in aid from the American people. Corruption scandals continue to break in Ukraine. Just last week Zelensky fired the heads of all local draft boards for corruption. Some press reports suggest that sales of luxury cars in Ukraine have broken all previous records. I wonder why.

No wonder the tide of U.S. public opinion is turning against further involvement in the war. Recently CNN found that among all Americans, more than 55 percent are opposed to continued aid to Ukraine. Among Republicans the number opposing more aid to Ukraine rises to three-out-of-four. That is why we are finally starting to see more Republican Members raising concerns. I’d like to think they have seen the light that an aggressive and interventionist foreign policy is not in America’s interest, but most likely they are worried about losing elections. Whatever their motivation, this turning tide should be welcomed. 

Yet the Biden Administration persists in backing Ukraine even as the U.S. mainstream media is increasingly pointing out the obvious: Ukraine is not winning and cannot win, and continuing to pour money into a losing cause will just result in bankruptcy at home and more dead Ukrainians overseas.

Last week Newsweek published an article asking, “Does Ukraine Have Kompromat on Joe Biden?” In the article, Northeastern University Professor Max Abrahms wonders out loud whether Biden’s continued support for Ukraine might be related to compromising information held in Kiev about the many Biden family shady business ventures in Ukraine and the region. It is certainly worth considering.

Meanwhile, the residents of Maui who survived the recent horrific fire will take little comfort knowing that the Biden Administration is more interested in sending their money to Ukraine than in helping them recover.

~ Ron Paul, Campaign For Liberty, August 20, 2023

Jacob Hornberger on the Russia-Ukraine War, corruption abroud, debt and loss of freedom at home

One of the unanswered questions is how much of the $100 billion in U.S. taxpayer money that U.S. officials have given to the Ukrainian government has been used to line the pockets of Ukrainian officials. After all, Ukraine is one of the most corrupt regimes in the world. There is no reason to believe that the Ukraine-Russia war has suddenly converted Ukrainian officials into honest and honorable government officials. 

Finally, there is something else to consider that is of critical importance. The federal government’s debt now exceeds $31 trillion. U.S. officials, led by President Biden, continue spending money like there was no tomorrow. That includes almost a trillion dollars being given to the Pentagon to keep us “safe” from the threats that it itself induces. Ever-increasing federal spending, debt, taxation, and monetary destruction constitutes a grave threat to the freedom and well-being of the American people. In pleading with Congress to give the Ukrainian government even more billions of dollars of U.S. taxpayer money, it’s too bad that President Zelensky gives short shrift to the continued destruction of our own freedom and well-being here at home.

~ Jacob Hornberger, "Ukraine's War with Russia Has Nothing to Do With Freedom," FFF.org, December 22, 2022

Sheldon Richman on money in politics

There is only one answer.  We must strip government of the power to dispense privileges to anyone.  If we can pull that off, the problem of money in politics will evaporate.

~ Sheldon Richman, "The Only Way to Get Money out of Politics," The Future of Freedom Foundation, January 28, 2010

Tacitus on laws and corruption

The more corrupt the state, the more numerous the laws. 

~ Tacitus, historian

Frank Herbert on power and corruption

The mistakes (of leaders) are amplified by the numbers who follow them without question.  Charismatic leaders tend to build up followings, power structures and these power structures tend to be taken over by people who are corruptible.  I don't think that the old saw about 'power corrupts and absolute power corrupts absolutely' is accurate: I think power attracts the corruptible. 

~ Frank Herbert

Eric Hoffer: "Power corrupts the few, while weakness corrupts the many"

It has often been said that power corrupts.  But it is perhaps equally important to realize that weakness, too, corrupts.  Power corrupts the few, while weakness corrupts the many.  Hatred, malice, rudeness, intolerance, and suspicion are the faults of weakness.  The resentment of the weak does not spring from any injustice done to them but from their sense of inadequacy and impotence.  We cannot win the weak by sharing our wealth with them.  They feel our generosity as oppression. 

~ Eric Hoffer, The Passionate State Of Mind, and Other Aphorisms, Section 42, 1955

Ronald Stöferle et al. on speculators, political connections and Warren Buffett

Good economists are rarely good speculators.  Much more dangerous is, however, the popular notion that a good speculator has to be a good economist...

Speculation is largely a question of timing, and decisions regarding proper timing are a rather intuitive affair...

However, it is quite possible that the conscious manipulation of trends is already a predominant factor these days.  Attempts to control the economy are increasing as well.  With that, the character of speculation has an especially good ear for the scheming of politicians or even enjoyes good political connections.  This is true of most famous speculators, especially the number one: Warren Buffett.  A large proportion of this wealth comes from taxpayer funds.  Rolfe Winkler summarized this for Reuters as follows:

Were it not for government bailouts, for which Buffett lobbied hard, many of his company's stock holdings would have been wiped out.  Berkshire Hathaway, in which Buffett owns 27%... has more than $26 billion invested in eight financial companies that have received bailout money. [...] The federal deposit insurance corporation (FDIC) backs more than $130 billion of their debt.

~ Rahim Taghnizadegan, Ronald Stöferle, Mark Valek and Heinz Blasnik, Austrian School for Investors (2015), p. 68

Buffett with Goldman Sachs CEO Lloyd Blankfein

Thomas Sowell on the corruption of journalism

Journalists cannot serve two masters. To the extent that they take on the task of suppressing information or biting their tongue for the sake of some political agenda, they are betraying the trust of the public and corrupting their own profession.

~ Thomas Sowell

Michael Malice on power and depravity

The thing that Americans don't get, which they are increasingly starting to get, is that people in power are often really depraved.  And they will use their power in sadistic ways, and they get off on not having consequences.  It's not just being corrupt like "oh, I'm getting a kickback for hiring my cousin."  It's so much worse than that.  And they're starting to see it now...

~ Michael Malice, "People Are Waking Up to How Depraved People in Power Really Are," 7:30 mark, YouTube.com, January 7, 2020

Eric Hoffer on business corruption and capitalism

It is probably true that business corrupts everything it touches. It corrupts politics, sports, literature, art, labour unions and so on. But business also corrupts and undermines monolithic totalitarianism. Capitalism is at its liberating best in a non-capitalist environment.

~ Eric Hoffer, philosopher (1902–83), New York Times, April 1971

Emerson on the corruption of language

The corruption of man is followed by the corruption of language. 

~ Ralph Waldo Emerson, Nature, Chapter 4, Language

John Milton on the corruption of language

When language in common use in any country becomes irregular and depraved, it is followed by their ruin and degradation.

~ John Milton

Ron Paul on Wall Street, bailouts, and who pulls the strings in DC

You know, it is said that the Congress didn't have enough strings attached to the money that they were giving away, but I think the strings go in the other direction. I think Wall Street has the strings on Washington. And they pull and do what they want and that's where the corruption is. They control the monetary system.

~ Congressman Ron Paul, "Ron Paul on the recession: 'None of this is behind us'," The Hill's Blog Briefing Room, October 20, 2009, by Michael O'Brien

Harold Evans: JP Morgan's influence on Calvin Coolidge

The great banking house of JP Morgan had the president [Calvin Coolidge] on a "preferred list" by which the bank's influential friends were given a chance to buy stock at half price. Shall we say, they made out like bandits?

~ Harold Evans, "Banker + gangster = bankster," BBC, January 30, 2009

Leonard Read on government power

If there be criminals among us, what is to keep them from gaining and using the power of government?

~ Leonard E. Read

Stan Evans on conservatives

Conservatives come to Washington knowing it's a sewer. Trouble is, most of them wind up treating it like a hot tub.

~ Stan Evans, American journalist, writing about Reagan Republicans who came to Washington in the 1980s

Benjamin Constant on power

Thus arbitrary power will have divided men of superior intelligence into two groups: the former will be seditious, the latter corrupt.

~ Benjamin Constant

Chinese farmer on corruption

If we have the ability to send a satellite to the moon, why is it so difficult to send all corrupt officials to prison?

~ Wu Mingfa, a farmer from Xichang, China, where the nation's first orbiter launched on Oct. 24, as reported in Time, November 5, 2007

Lord Acton on power

Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men.

~ Lord Acton, from a letter to Bishop Mandell Creighton in 1887