Category Archives: Featured

Defend Twitter’s, Google’s, and Facebook’s property rights now or don’t complain when you’re called a racist

big-tech-censorship-777x437Twitter took the unprecedented step on Friday of banning the president of the United States from its platform. Their justification lay in the dubious assertion Trump incited the vastly overblown incident inside the Capitol on January 6, as lawmakers attempted to count the electoral votes for president sent by the states.

Never mind that banning Trump can only incite more violence. There is the larger question of whether this constitutes an assault on free speech and what should be done about it. For libertarians, if not conservative (no, they’re not remotely the same thing), the answer should be clear as far as government action goes: nothing.

The left’s timeworn tactic of calling anyone who opposes outright socialism a racist has worn so thin as to become cartoonish. There is a significant segment of the population who are sick of it. That was one of the major reasons Donald Trump was elected in 2016. Trump got 12 million more votes in 2020 than he did then.

Until Covid-19 and the monstrous, unscientific government response to it, it seemed the left had learned little from their previous defeat. No longer content to simply call non-socialists “racists,” they now upped the ante to “white supremacist” or “white nationalist.” Why? Let’s forget the meaning of the actual terms. For most Americans, “white supremacist” merely means “somebody who’s way worse than even a racist.”

I don’t believe Donald Trump is a racist and he has certainly never advanced a single policy that can accurately be described as “white supremacist.” Neither do I believe any significant portion of the 74 million people who voted for him did so because they are racists or white supremacists. But just as hundreds of his supporters may have been baited by FBI infiltrators, Antifa activists, or both into committing a self-destructive act on Wednesday  Trump’s and his supporters’ call for government action against Google, Facebook, Twitter, etc. is going to blow up in their faces.

Let’s not forget the libertarian and conservative position on the 1964 Civil Rights Act. In a nutshell, both groups generally agree with the Act’s prohibitions on any government-enforced racism. But purists in both camps disagree with its prohibitions on private businesses, specifically in Titles II and VII. I was clear in my own piece on the subject that these sections of the law should be repealed. Why? Because people have a right to make whatever rules they want on their own property, no matter how vile we may find them.

I stand by that position to this day, regardless of my personal feelings on the Jim Crow south (and north, in some cases). Yes, I fully understand Jim Crow was state and local governments prohibiting integration in restaurants and hotels and that those laws were only necessary because some people would presumably integrate their businesses without them. But let’s not pretend Jim Crow laws had no support among the people. They had overwhelming support. And they were really, really bad.

Quincy Jones recounted how black musicians had to sleep in a mortuary, with several dead bodies, while on tour in the South, because “separate but equal” failed to provide any hotels. People would travel hundreds of miles looking for a “separate but equal” place to eat lunch or even use a restroom. Next to what these people went through, suspension of our supposedly God-given right to bloviate on Twitter rather pales in comparison.

If we’re going to defend the property rights of segregationists, and I do, then we’re going to have to answer for why we don’t defend the property rights of woke tech giants. I defend them for precisely the same reason I defend the property rights of the 1960s lunch counter owner from refusing to serve black people. It’s his lunch counter. If you believe in limited government, it’s the government’s job to enforce his property rights, not other people’s preferences.

As long as I’ve been a libertarian, the answer to the question, “What would stop people from doing reprehensible things without government?” has been, “private enforcement of property rights.” Ostracism has frequently been cited as a tool individuals could use to fight against distasteful behavior and speech without government.

Well, here we are. Tech giants and the woke crowd have been doing precisely what we libertarians have always said was the non-government way to avoid associating with people we don’t want to associate with. And what is our reaction? “Regulate them!”

How could anyone credibly argue there isn’t hypocrisy here? What defense would any libertarian or conservative who objects to Titles II and VII on principle offer to those who charge them with racism, when they abandon those principles now?

Yes, it’s true the call for regulation by Trump and his supporters is to remove an exemption in Section 230 of the Communications Decency Act (CDA) of 1996 to protect internet content providers from being sued for content by their users. This, argues the regulate crowd, gives them an unfair advantage over traditional media. Somehow, also goes the argument, this allows them to achieve “monopoly power” over the internet.

Are they kidding?

Yes, this is a protection afforded internet providers over traditional media, but it doesn’t give Google any particular advantage over other search engines nor Facebook or Twitter over MeWe or Parler. But the real question is, “Do libertarians and conservatives have total amnesia?” Does no one remember how the internet was celebrated just a few years ago as a way around the gatekeeper traditional media? Now, we’re supposed to defend CNN against Twitter and somehow that will help our cause?

Besides being tactically moronic, it’s unprincipled. If you’re a libertarian and won’t go full Monty anarcho-capitalist, then you should be looking to extend the protection to traditional media, not take it away from the tech platforms. That’s the free speech position, to protect speech from government-enforced mobbism in the courtrooms.

Let’s face it. We like to criticize the left for being dumb, especially on economics. But they’re not. They’re smart and they’re winning. The tech billionaires became billionaires largely because they think strategically. They’ve maneuvered the entire non-socialist movement into betraying their own most fiercely held principles and opening themselves up to the tired charge of racism and making it stick. I’m not sure even I could effectively defend against a charge of racism someone who thinks Titles II and VII should be abolished but Twitter should be regulated. On what grounds?

If we want to fight for property rights, free markets, and individual liberty, the special pleading must stop. Arguments like, “this isn’t really a free market” are astoundingly obtuse. Are we saying that unless and until there is 100% laissez faire, all property rights are off the table? Good luck with that. You might as well vote for AOC in 2024.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

Every year will be 2020 if Americans don’t resist Covid-19 measures now


cuomo whitmerIf you wonder how state governors and so-called “public health” bureaucrats can continue to impose lockdowns even though the evidence is overwhelming they don’t work, just consider smoking bans.

Governments around the U.S. and the world began imposing them at the beginning of this century, claiming second hand smoke (aka “passive smoking”) caused lung cancer, heart disease, and a number of other serious diseases.

Now, even if that were true, it would still be the right of private property owners to decide whether to allow smoking on their premises or not. But it wasn’t true.

It’s been seven years since a large study showed no correlation between secondhand smoke and lung cancer. Heart disease has not decreased as the banners promised, either. Yet, the bans remain in place.

The TSA will celebrate its 20th birthday next year. It has never caught a terrorist and still consistently fails to detect 95% or more of the dangerous items carried through security on its own tests. It, too, will never go away.

If Americans don’t resist them, business closures, travel bans, contact tracing and the rest of Covid-related government insanity will be here to stay. Any who don’t believe that should ask themselves why Erie County is renovating a historic building into a “Covid-19 response hub.” Not even a government would be so obtuse as to make a long-term capital investment like this to address a problem that will be over in a few months.

All of history shows governments don’t give up power unless they are forced to do so. As a new year dawns, Americans are faced with a clear choice: resist now or spend the rest of their lives reliving 2020 over and over again.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

Another day, another Covid “news” article where the reporter questions nothing

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Another day, another article in the Buffalo News where the so-called journalist questions nothing, is curious about nothing, and acts literally as a propagandist for the politician.

If “gatherings” are to blame for higher deaths, then why are over half the deaths in nursing homes, which are completely locked down, including not even allowing the residents to congregate with each other? Why are New York State’s hospitalizations and deaths so much worse than Florida’s, which has no restrictions, no capacity limits on restaurants or bars, and no enforced masked mandates?

By the way, what is the total for deaths from all causes in December 2020, December 2019, and December 2018? Are total deaths really higher? By how much? Are deaths from heart disease, diabetes, and other chronic conditions all lower by close to exactly the number of Covid deaths, as a study found for the U.S.  between March and September?

And how many deaths does the wise county executive estimate have been caused by Covid lockdowns? Will no one ever ask this question? Because that number is not zero. It was uncontroversial a year ago to say every one percent increase in unemployment nationwide causes 30,000 deaths. So how many Erie County deaths have been caused by the unemployment resulting from lockdowns?

These are questions I thought of in seconds as I read the article, but apparently never occurred to the so-called journalist. It’s almost as if she thinks her job is just to write down what the government tells her and repeat it to the population without question.

If that’s the case, why have journalists?

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

What will our Ozymandias say to the future?

ozymandias-percy-shelley-with-poem-34054575160_c4cc6a68e0_bI’ve often wondered what historians of the future will think about us and our demise while sifting through the rubble of our civilization. There are many volumes on the reasons for the fall of Rome. We know what happened to the Spanish, French and British Empires. The Mayan collapse is still somewhat mysterious, although there are theories.

But when it comes to us, this mighty civilization that rose out of the Age of Reason and accomplished wonders in 400 years that eclipsed those of the previous 4,000, what will they conclude?

That, ironically, after surviving the bubonic plague, cholera, several world wars, and many natural disasters, we were finally done in by mass hysteria over a virus that, compared to the great epidemics of history, was rather unremarkable.

And round the decay of our colossal wreck, boundless and bare, the lone and level sands will stretch far away.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

No, government isn’t the problem. It’s the Nitwit Mob.

Simpsons-Mob-400x400

Thirty-nine years ago, Ronald Reagan said during his first inaugural address, “In this present crisis, government is not the solution to our problem; government is the problem.” It had Conservative, Inc. atwitter for decades, even long after everyone knew the federal government doubled in size under The Gipper.

Both proponents and opponents still talk about Reagan as if he shrank the government when he did precisely the opposite. That’s understandable coming from political operatives or media (but I repeat myself) who have some stake in people believing it. What is intolerable is the tens of millions of nitwits – there really is no other word for them – who believe it themselves, contrary to easily verifiable data.

Thus, this libertarian is led to what some might consider an extraordinary conclusion. Government is not, in fact, the problem.

Contrary to what we in the so-called “liberty movement” would like to think, there is not a large percentage of the population yearning to break free from an oppressive government.

In reality, all those polls showing single digit approval ratings for Congress result from people being angry the government isn’t doing more. I wish I could tell you what you want to hear. But I can’t.

Hundreds of years ago there was a moment when the American population was somewhat suspicious of government, respectful of property rights (the only real rights) and devoted to personal liberty. That sentiment began eroding almost immediately upon the thirteen colonies gaining their independence. It died completely generations ago, but for a few contrarians.

We now live in as close to a pure democracy as any society this size could possibly achieve. By “pure democracy,” I do not mean the overrated distinction between democracy and republic. I mean a system in which the will of the majority is unchecked by any institutional restraint.

When you consider half the population have, by definition, IQs under 100, then you can see why it isn’t difficult for a small, interested minority to combine with that population segment to impose whatever they want upon the rest of us. All they need do is promise safety from some terrifying threat, real or imagined, and the cowardly, obsequious, statist-to-the-core majority will not only accept the plan but demand it.

We are ruled by the Nitwit Mob. Democracy is its means, comfortable slavery its end. Participation is mandatory.

How does one know the members of this mob, you ask? Identifying non-members would make for a shorter answer, but here is an incomplete list of some tell-tale characteristics:

  • Mindlessly repeating talking points they hear on state propaganda broadcasts like The Today Show as if the talking points are their own, well considered opinions.
  • Changing their profile pics to some symbol in politically correct vogue at the moment. Can one say any more emphatically, “I have no identify of my own?”
  • “Thanking the troops” for their freedom – or for anything else for that matter. Thanking is only appropriate when a benefit is conferred. And no American taxpayer has benefited from the troops invading Afghanistan, Iraq, Viet Nam, Somalia, Korea…
  • Starting any sentence with the words, “You need to….” Yes, this is a personal pet peeve, but think about the thought process behind this ubiquitous expression. It’s a passive-aggressive way of ordering someone to do something, often to fall in line with some politically correct or otherwise state-directed behavior.

The appropriate response is something like, “No, I need to do no such thing. If you would like me to do thus and so, I suggest you ask politely, employing the word, ‘please.’ I make no guarantees.”

Or, if time is short, simply, “Fuck you.”

  • Using the word “we” when advancing a political agenda. “We need, we must, we can,” etc. are all words employed by two groups of people: those who wish to control or plunder you and the Nitwits who enable them.

What is the solution to rule by the Nitwit Mob? I don’t know.  But I can tell you what the solution isn’t: trying to reason with them.

We can write all the essays we want, teach all the economics we want, cite all the great thinkers in the libertarian tradition we want. It’s not going to work because the Nitwit Mob doesn’t want to be reasoned with. They don’t want to consider your point of view. No, they don’t find that information you “shared” interesting.

The Nitwits are impervious to these efforts because they are emotionally invested in statism. They want an all-powerful state to care for them like they are livestock and they demand you take your place in the stable next to them (not to mention pay for the stable). Any suggestion this might be immoral, impractical or even detrimental to their own interests might as well be made to a donkey.

In substance abuse programs, it is often said the first step in solving your problem is admitting you have one.  We must admit we have a Nitwit problem compared to which the state pales in comparison. Let’s stop operating under the assumption that if we could just bring them the information evil forces have kept from them, they’d join our cause. They won’t.

As my kung fu Sifu once said, “Well, what you’re doing obviously isn’t working. So, whatever you decide to do, don’t keep doing that.” Consider this a request for proposals. How do we free ourselves from the Nitwits who are too stupid to persuade and too numerous to fight?

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

What proof is there that Covid-19 lockdowns prevent more cases than they cause?

2013-updated_scientific-method-steps_v6_noheaderAs the economic pain from shelter in place orders manifests itself, protests are erupting in many states against what I previously called the absurd proposition of Covid-19 lockdowns. Indeed, as the knock-on effects of these severe disruptions begin to emerge, tensions are going to go much higher.

Supporters of reopening the economy make many arguments, including that the threat of Covid-19 is overstated and that the government “cure” will be worse than the disease. Their opponents smear them as “anti-science,” ignorant rubes. But that begs the question: where is the science supporting the theory these lockdowns have prevented more infections than they caused? I don’t see it; nor do I expect I will.

To be clear, the pro-lockdown crowd, which includes politicians, public health officials, and much of the media, have not necessarily said there will be less cases overall because of the lockdowns. They have said the lockdowns will “flatten the curve,” meaning not as many people will get a severe illness from the virus at the same time. This, they argue, will prevent hospitals being overwhelmed with more cases than there are beds at the peak of the infection cycle.

This is certainly a plausible theory, but that is all it is. One can also construct a plausible theory that the lockdowns have caused more cases during their durations than if they hadn’t been ordered at all or if they only applied to high risk people (elderly, people with underlying conditions, etc.).

How? Well, the CDC says that prolonged exposure to the virus increases one’s chance of contracting it. Therefore, anyone ordered to stay in their homes with people already infected had a much higher chance of being infected than if they or the people they were confined with went to work every day as usual.

We now know the virus was present in at least two people who died as far back as early February, long before the first shelter in place order in any state. We also have strong evidence that far more asymptomatic people have already been infected with the disease than previously thought.

A study by Stanford University concluded there may be as many as 81,000 cases  in that county, with only 1,094 reported. A separate study of 397 residents of a Boston, MA homeless shelter showed a similar result. 146 of the 397 tested positive for the virus. 100% of them were asymptomatic.

The pro-lockdown crowd has interpreted these facts predictably – lockdowns must remain in place because people who don’t even know they have the virus may spread it.

But there is another, glaringly obvious conclusion to be drawn from these studies and the knowledge the virus has been here since at least early February. Lockdowns are forcing uninfected people to have prolonged exposure to infected people.

That’s not to say the lockdowns don’t prevent more infections than they cause. There must be some number of people who have avoided infection by staying in their homes and not going to restaurants, bars, work, etc. But there is just as surely some number of people who became infected because of the lockdowns. Evaluating the lockdown policy depends at least in part upon which of those numbers is larger, as well as the damage done by secondary negative effects of the lockdowns.

Here is the problem. No politician or public health official is interested in that second number. They’ve made their decisions and there is zero incentive for them to have any intellectual curiosity about their validity. On the contrary, they would face public lynching, literally or figuratively, if it turned out their policies not only wrecked the economy but achieved the opposite public health results they intended.

Yet, anyone who believes in science should be demanding rigorous proof that these lockdowns didn’t cause more infections than they prevented while they were in place. And anyone who believes in individual liberty must put the burden of proof on those who would infringe upon it, not on those who merely seek to exercise their inalienable rights.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

The absurd proposition of Covid-19 lockdowns

brand-quarantine-coronavirus-CONTENT-2020

Among the most glaring deficiencies of cherished ideals like democracy and “the rule of law” is they allow the dumbest policies to be enacted with the consent of but a tiny percentage of people with IQs above 100. And most of that tiny percentage have ulterior motives.

Boy, are we ever feeling that pain now.

Somehow the American public has accepted without question the bizarre proposition that asymptomatic people must prove they don’t have a disease before exercising most of their rights. That is the reasoning behind locking down all of society until widespread testing or a vaccine is available.

Liberty is dead until this evil notion is banished.

On the contrary, it is the responsibility of people at high risk of being seriously affected by this virus to protect themselves or be protected by their loved ones. They don’t have a right to lock up the rest of the world in a futile attempt to avoid all risk.

Not possessing this power individually, they can’t possibly delegate it to a government, even if you believe in that hogwash popularly known as representative government.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

The government can’t make realities like scarcity go away

magicWhenever I point out the predictable (and often predicted) negative consequences of a particular government intervention, someone will invariably come back with, “Oh yeah, what’s YOUR solution, smartypants!”

Like that’s some sort of zinger.

In almost every case, the inquisitor is looking for me to propose an alternative government solution, when the obvious recommendation implicit in my post was, “Stop letting the government…”

No matter how high the past failures mount up (drug war, education, health care, war on “terror”), they’re always ready to call in the government again.

It’s almost as if they can’t confront the reality that, as the great John Bender put it, “The world is an imperfect place; screws fall out all the time.” They are constantly looking for someone, usually a politician, to wave a magic wand and make realities like scarcity go away.

How many examples will it take? How many thousands of repetitions do they require before every day isn’t their first day?

What would it take for people like this to acknowledge:

1. Some problems can’t be solved. We just have to learn to live with them.

2. In a world of scarce resources, the voluntary cooperation of the market always produces the best outcomes.

3. In that same world, the government always produces the worst outcomes.

Freedom is impossible without confronting reality.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

When the Coronavirus Shutdown is over, will anyone blame their governments for the economic devastation they caused?

The Dow and S&P 500 were both down nearly eight percent, the largest drop since 1931 according to data from LPL Research. FULL CREDIT: Fotosearch/Archive Photos/Getty Images

The expectation that governments (local, state, federal) allowing people to go back to work in a few weeks or a month will mean the economy will immediately be just like it was in January is delusional.

Long-term and permanent damage is being done. Some businesses will close. Some will never rehire all the staff they once employed.

Risk aversion will skyrocket because there is no reason to believe governments won’t do this again in the future, perhaps perennially over less and less significant threats.

Would you put your life savings into a business knowing the government might close it down indefinitely next flu season?

Will anyone bother to track the increased suicide and drug overdose rates caused by massive unemployment?

Will anyone bother to track the increased mortality rates of other illnesses untreated, either during the shutdown or because of the government-inflicted economic depression after it?

Will anyone question the wisdom of previously allowing the FDA to limit competition in drugs and medical supplies (face masks, ventilators, etc.) resulting in shortages when we needed them most?

Will anyone point to these and other obvious negative consequences of government policies and not ask for more government to address them?

In other words, is there any chance we emerge from this epidemic bearing any resemblance to a relatively free and prosperous society?

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.

‘Inflation is low’: The Federal Reserve’s Scam of the Century

MW-HG082_jay_po_20190321070916_ZQIn the wake of the federal government’s $2 trillion fiscal monstrosity and the Federal Reserve’s even more monstrous promise to create new money and credit with no limit whatsoever, it is a good time to reiterate a point I’ve made before: the claim that “inflation” has been low over the past ten years is a scam.

No, I’m not talking about the real definition of “inflation” being the creation of new money and credit, rather than the resulting rise in prices. Nor am I merely claiming the inflation rate is underreported due to all the tricks played with the numbers (hedonic adjustments, substitution, etc.).

I’m saying the claim that prices are not higher because of all the previous quantitative easing is a bald-faced lie. It represents perhaps the biggest gaslighting of an entire population in human history. And because it’s been so successful, the Fed is about to do it again.

The Fed reports the consumer price inflation rate over the past ten years as ranging from about 1.5% to 2.4%, not counting a few outlying years. The average from 2010 – 2019 was 1.77%. The Fed then tells us that low number proves its massive inflation of the currency during the last decade “hasn’t resulted in inflation,” by which they mean a rise in the price of consumer goods. But it has.

The key to this deception is its false premise: that one should compare the prices of goods and services this year to what they were last year. That’s the wrong comparison.

The correct comparison would be between what prices are today vs. what they would be without quantitative easing. Perhaps they wouldn’t be higher at all. Perhaps they would be lower.

Perhaps they should be lower.

Obviously, we don’t get to do a controlled experiment where we relive the past ten years with the Fed’s printing press shut down. But we can look at other factors influencing prices and draw some reasonable conclusions.

One major factor is automation. Donald Trump got elected largely based on his claim that unfair trade deals have destroyed American manufacturing, sending manufacturing jobs overseas. This may play well with unemployed Rust Belters, but there is one problem: American manufacturing hit its all time high in 2007, long after NAFTA and long before Trump got into politics.

It wasn’t trade deals that took away the jobs; it was automation. That means the American economy is producing far more manufactured goods with far fewer people. And this trend isn’t limited to the manufacturing sector. It is ubiquitous across the economy, from robots in warehouses to automated kiosk ordering in fast food restaurants.

So dramatic has been this trend that another presidential candidate, Andrew Yang, campaigned on the idea that we need a “universal basic income” because of all the jobs being eliminated.

Yang’s argument rests upon an old fallacy, but one thing is certain: Automation represents a huge deflationary force on consumer goods prices, as does a host of other trends like ever more powerful computing capabilities, web retail replacing brick and mortar stores, etc.

For these reasons and others, GDP has continued to rise, albeit modestly, during the mass retirements of the baby boomers. So, the increase in total goods produced combined with the decreased demand represented by retiring baby boomers should result in falling consumer prices.

Instead, the Fed’s QE and other monetary inflation interventions – injecting massive amounts of new dollars into the economy – have overcome massive price deflationary forces to make consumer prices rise modestly when they should have been falling.

Falling prices raise real wages, even when nominal wages don’t rise. To put it in topical terms, if the price of toilet paper falls from $2 per roll to $1 dollar per roll, you can buy twice as much toilet paper without getting a raise. Ditto consumer goods in general.

The Fed has a whole story about why falling prices would be catastrophic. But falling prices are what naturally happens as society produces more per capita.

Don’t believe me? Take another look at the Fed’s inflation table, this time from 1800 – 1899, most of which time the U.S. was on a gold standard.

If you make a spreadsheet multiplying a basket of goods costing $100 in 1800 by the inflation rate each year, you’ll see something quite startling.

Nevermind, I did it for you.

That’s right. Prices fell dramatically over the course of the 19th century. A basket of goods that cost $100 in 1800 cost only $48.94 in 1899. That means one could buy twice as much with the same wages in 1899 as one could in 1800.

Falling prices are the natural result of a more productive economy. But as the Fed’s inflation table also shows, it has always overcome this natural tendency and made prices rise (the Fed was created in 1913). That same basket of goods that fell from $100 in 1800 to $48.94 in 1899 cost $1,498.45 in 2019. It should have cost something like $24.00, or even less considering accelerating innovation.

Yes, monetary inflation eventually raises wages, too, but always more slowly than it raises consumer goods, making wage earners poorer while the beneficiaries of inflation – mostly in the financial sector – get richer.

Get it yet? You’re being ripped off on a massive scale. You’ve been ripped off by the monetary system your whole life as automation and other innovations allowing society as a whole to produce more goods and services should have made prices fall even faster than usual.

You’ve been had. And now the Fed is going to use its disinformation about consumer prices to take you again.

Tom Mullen is the author of Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness? Part One and A Return to Common Sense: Reawakening Liberty in the Inhabitants of America.