The Weimar Solution

By Patrick J. Buchanan “The best way to destroy the capitalist system is to debauch the currency,” said Lord Keynes. Ben Bernanke disagrees. A student of the Depression, the Fed chair appears far more fearful of deflation — a vicious cycle of falling prices, debt defaults, home foreclosures and rising unemployment. Deflation is what America […]

Systemic Failure

By Patrick J. Buchanan As the U.S. financial crisis broadens and deepens, wiping out the wealth and savings of tens of millions, destroying hopes and dreams, it is hard not to see in all of this history’s verdict upon this generation. We have been weighed in the balance and found wanting. For how did this […]

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 […]

Liquidating the Empire

By Patrick j. Buchanan “Liquidate labor, liquidate stocks, liquidate the farmers.” So Treasury Secretary Andrew Mellon advised Herbert Hoover in the Great Crash of ’29. Hoover did. And the nation liquidated him — and the Republicans. In the Crash of 2008, 40 percent of stock value has vanished, almost $9 trillion. Some $5 trillion in […]

Day of Reckoning

By Patrick J. Buchanan How did the United States of America, the richest nation on earth, whose economy represents 30 percent of the Global Economy, arrive at the precipice of a financial panic and collapse? The answer lies in the abject failure of both America’s financial elite and the political elite of both parties — […]