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.

Always and everywhere, the only serious political issue is what the state should and should not do. All the rest distracts.

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

Capitalism, and capitalism alone, has rescued the human race from degrading poverty, rampant sickness and early death.

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.

The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

What the American worker needs is more of what WalMart offers and less of what the government offers.