In Earmarks Lies Salvation?

By Patrick J. Buchanan In a deepening recession, what does the reasonable man do? Seeing friends laid off, he will get rid of all but essential credit cards, dine at home more often, terminate unnecessary trips to the mall, put off buying a new car, give up the idea of borrowing on the vanishing equity […]

Socialist Republic

By Patrick J. Buchanan Barack Obama and George W. Bush seem to have come away from their study of the Great Depression with similar conclusions: To wit: After the Crash of 1929, the Federal Reserve did not move fast enough to save the banks and inject cash into the economy. Second, the New Deal, far […]

Who Killed Detroit?

By Patrick J. Buchanan Who killed the U.S. auto industry? To hear the media tell it, arrogant corporate chiefs failed to foresee the demand for small, fuel-efficient cars and made gas-guzzling road-hog SUVs no one wanted, while the clever, far-sighted Japanese, Germans and Koreans prepared and built for the future. I dissent. What killed Detroit […]

As GM Goes, So Goes the GOP

By Patrick J. Buchanan Understandably, Republicans are seething. When Hank Paulson demanded $700 billion to haul away the trash in the dumpsters of JPMorgan Chase and Goldman Sachs — assuring us we could hold a garage sale of the junk — they rebelled. They acted as the nation, by 100 to one, demanded. They killed […]

Bretton Woods II — No Way

By Patrick J. Buchanan “Laissez-faire is finished, the all-powerful market that is always right, that’s finished,” said Nicholas Sarkozy, speaking ex cathedra, last month. As a result, said the diminutive French president, it is “necessary to rebuild the entire global financial and monetary system from the bottom up, the way it was done at Bretton […]

China’s Path to Power

By Patrick J. Buchanan For decades, before a heedless congregation, some of us have preached the old Hamiltonian gospel. Great nations do not have trade partners. They have trade competitors and rivals. Trade surpluses are superior to trade deficits. Tariffs on foreign goods are preferable to taxes on U.S. producers. Manufacturing, not finance, is the […]