Source: Foundation for Economic Education
by Cláudia Ascensão Nunes
“The UK government has completed the forced nationalization of British Steel, the company that owns the Scunthorpe plant in Lincolnshire, the last facility in the United Kingdom capable of producing virgin steel in traditional blast furnaces. Celebrated by sectors on both the left and the right, this move represents a definitive transfer of risk from private shareholders to taxpayers, ignoring that many of the problems that led to it were largely created by the state itself and its aggressive green policies.” (07/27/26)
“Brexit was one of the defining political events of the early twenty-first century. Ten years ago, the world was shaken by the images of Prime Minister David Cameron announcing his resignation after losing the Brexit referendum. The vote transformed Britain’s relationship with Europe and offered a powerful lesson about the unpredictability of referendums in the age of social media and fake news.” (07/27/26)
“Health Secretary Robert F. Kennedy, Jr.’s recent decision to terminate the Covid-19 Emergency Use Authorization (EUA) declarations1 invites reconsideration of the evidence that launched this extraordinary regulatory chapter. The FDA’s first EUA for a Covid-19 vaccine rested on its determination that the known and potential benefits of the Pfizer–BioNTech vaccine outweighed its known and potential risks. Yet the pivotal trial report did not bring those benefits and risks together within a common quantitative framework. Better late than never: more than five years later, I did—and what I found was startling.” (07/27/26)
Source: Ludwig von Mises Institute
by George Ford Smith
“As John Adams wrote to his wife Abigail following a congressional vote for independence on July 2, 1776, ‘[This date] ought to be Solemnized with Pomp and Parade with Shews, Games, Sports, Guns, Bells, Bonfires and Illuminations from one End of this Continent to the other from this Time forward forever more.’ The future father of the Alien and Sedition Acts was justifiably proud and excited. … for those who took the risk of signing the Declaration, it was the document’s affirmation of the individual over government that became the hill they would die on if necessary. Government was a necessary evil, as Paine wrote, but that wouldn’t stop them from somehow putting the people at the top of the food chain.” (07/27/26)
“Last week two seemingly unrelated events, one in the tech world and one in Trump world, together illustrated how unprepared the planet is for the AI revolution—in particular, for its potential to create international turmoil, up to and including nuclear war. (1) OpenAI revealed that two of its models had, while under evaluation, escaped the laboratory and gone rogue in a way that inspired various nightmare scenarios. … (2) The Wall Street Journal, by way of illuminating the strategic logic that had led one of the world’s political leaders to bomb Iran for 11 days in a row, reported the following: According to a senior official in his administration, he is in ‘revenge mode.'” (07/27/26)
“Pity Russian savers. In June, the Russian Finance Ministry announced its support for draft legislation to transfer nearly $40 billion in private pension savings into government coffers. Later that month, Russian Communist Party leader Gennady Zyuganov encouraged President Vladimir Putin to make the most of the almost $1.8 trillion that Russian firms and individuals hold in bank accounts to support state finances. According to Zyuganov’s calculations, ‘that is three state budgets … sitting there and enriching bankers.’ Pondering whether the Russian economy will collapse is in fashion these days—but that may be the wrong question to ask. The better question is which sources of politically affordable money the Kremlin can still tap to finance military expenses while maintaining social stability.” (07/27/26)
“In the 2002 movie My Big Fat Greek Wedding, the father of the bride claims that Windex, a US glass cleaning product, can cure all known medical conditions. I was reminded of that scene when I heard Donald Trump prescribe tariffs as a remedy for diarrhea last week. The Center for Disease Control has recently registered more than 4,000 cases of a disease suspected to be cyclosporiasis, an intestinal illness, transmitted through food. The suspect is shredded lettuce, grown in Mexico and exported to Taco Bell fast-food chains across the US. When a reporter asked him about the outbreak, Trump threatened to put a tariff on imported Mexican lettuce to control the spread of the parasite.
The President may not have been serious about the lettuce tariff, but he is serious about tariffs in general.” (07/27/26)
