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Many economic think tanks espouse that national defense spending benefits Americans at large. It doesn’t. The notion that military spending "bolsters" the economy is yet another Keynesian fable.
According to John Kekes, “reclaiming” the political center means coming to an understanding that rights are not natural but are simple social conventions.
"Politically there is nothing more advantageous for a government than an attack on property rights, for it is always an easy matter to incite the masses against the owners of land and capital."
Collectivism isn't a dangerous ideology just because of bad economics. It also is dangerous because its practitioners realize the only way to implement it is through outright violence, and they have no qualms about employing it to get their way.
Brent Johnson of Santiago Capital joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD.