What to make of the current battle over the politicization of the Federal Reserve? The past year has featured an unprecedented attack by President Trump on Fed leaders and their independence. Mr. Trump not only questioned the board governors’ judgment but even contemplated removing the chairman for the sin of not setting interest rates where the president wants them. 

August 15, 2019 is the 48th anniversary of President Nixon’s announcement of a 90-day freeze on all wages and prices. What followed after 90 days were various phases that caused the controls to last into 1974. The worst effects of the price controls were in the oil and gasoline markets, where OPEC’s price increase in the fall of 1973, combined with binding price controls, led to shortages, lineups, rationing, occasional violence in lines, and, arguably, President Carter’s Rapid Deployment Force, which was later changed into U.S. Central Command (CENTCOM.) So August 15, 1971 is a day that should live in infamy.

Thomas Sowell has often stated that it would be nicer and easier if the left-wing/unconstrained vision of the world were true. Social welfare programs could make poor people not poor, peace would be easy to make through treaties and government wouldn’t be corrupt if only the right people ran it. Overall, I think that’s true. I’d like it if mankind were less corrupt and more competent, which is the basis of the unconstrained vision.

A recent Ontario court decision struck down the mandatory conviction for impaired driving of a woman because she is Indigenous. This highlights the urgent need to re-examine the wrong-headed light sentencing principles (Gladue) that now apply exclusively to Indigenous offenders.

There’s tariffs on games and tariffs on toys—try explaining tariffs to your little boy. Santa’s workshop is struggling, you’ll find yourself saying. I think the reindeer are backed up with their sleighing.”