The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters. And that's beginning to happen. More than six decades of hard work for American liberty beginning with the Old Right opposition to the Roosevelt Revolution and continuing with the Mises Institute, is beginning to bear fruit.

Private enterprise creates; government destroys. That is the great economic lesson of our times and all times.

Americans are coming to their senses, and the libertarian theory of society and government is pointing the way. The times change, but the enduring principles that help us to interpret and understand the world do not. It remains true now, as then, as in the future, saecula saeculorum, that government provides neither an effective nor a moral means for solving any human problem.

It's a hard truth for Americans to face, that neither team in Washington is going to guard what we love the most. That is something we are going to have to face. Liberty is for the citizens to guard themselves.

Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.

Profit is a signal that valuable services are being rendered to people on a voluntary basis.

Never underestimate the power of bad ideas. They must be refuted again and again.