The True Believer

By Patrick J. BuchananLast May, Ron Paul filed his financial disclosure form, and The Wall Street Journal enlisted financial analyst William Bernstein to scrutinize his investments."Paul's portfolio isn't merely different," said an astonished Journal, "it's shockingly different."Twenty-one percent of his $2.4 to $5.5 million was in real estate, 14 percent in cash. He owns no bonds. Continue reading...

A Conspiracy of Counterfeiters

By Patrick J. Buchanan"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.""Lenin was certainly right," John Maynard Keynes continued in his 1919 classic, "The Economic Consequences of the Continue reading...

Who’s Really Downgrading America?

By Patrick J. BuchananThe decision by Standard & Poor's to strip the United States of its AAA credit rating, for the first time, has triggered a barrage of catcalls against the umpire from the press box and Obamaites.S&P, we are reminded, was giving A ratings to banks like Lehman Brothers, whose books were stuffed with suspect subprime paper, right up to the day Lehman Brothers fell over Continue reading...

The Long Retreat of Liberalism

By Patrick J. BuchananThough President Obama has run rings about the Republican Party in the debt-ceiling debate, that party can yet emerge victorious, if it will stick to its guns.Clearly, the Republican strategy was not thought through, when the party chose the debt ceiling as the legislative terrain on which to fight its fiscal war.The president had wanted a clean debt-ceiling Continue reading...

Obama’s Dilemma — and Ours

By Patrick J. BuchananSeventy-one years ago this spring, after the German army had broken through the French lines, British Prime Minister Winston Churchill flew to France to consult his embattled allies on how to stop the advance."Where is the strategic reserve?" Churchill urgently asked the French commander in chief, Gen. Maurice Gamelin, and then he repeated himself in French: "Ou est Continue reading...