The Electoral College on December 19 elected Donald Trump President with only modest “faithless” votes for candidates who did not run on November 8. Before the vote, there were claims that the electoral college in voting for the candidates selected by the public, was not fulfilling Alexander Hamilton’s vision set out in Federalist #68. This […]

After the Federal Open Market Committee raised the Federal Funds rate by 0.25% last week it became clear that Janet Yellen and her predecessor Ben Bernanke have laid a trap for President-elect Donald Trump. Each time the FOMC raises rates, increasing the rates the Fed pays on $2.1 trillion of bank deposits with it, it […]

President-elect Donald Trump’s deal with Carrier rescued some 800 jobs at a cost of some $7 million in additional subsidies. It was immediately attacked, often by commentators whose devotion to the free market had never previously been detected. In reality, the Ricardian free trade doctrine is an abstraction that does not work well in the […]

The price of gold shot up on Election Night, as it became clear that Donald Trump would be the next President, but has since sunk by more than $100 per ounce. President Trump may raise interest rates, cause a global depression through tariffs or govern as a Reaganite, boosting the stock market – all bad […]