• "Well written, well researched, and the thesis put forth is well argued.... Woods has opened up an area of historical analysis that should invite further study."
    -Journal of American History

  • "During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods."
    -Barry Goldwater Jr.
    Former Member of Congress

  • "I strongly recommend Woods's work."
    -The Honorable Ron Paul,
    U.S. House of Representatives

  • "Written with great clarity and fluency, making the complex philosophical and theological concepts approachable."
    -Journal of American Studies

  • "A must-read."
    -Barron's

  • "An excellent reading source for anyone interested in financial markets, and much more so for anyone interested in learning about capitalism without all the misinterpretations being thrown about in the financial media."
    -Asia Times

  • "Provocative, well-written, and deserves to be read."
    -Catholic Historical Review

  • "An engaging and important contribution to scholarship on the history of American Catholicism."
    -Journal of the Historical Society

  • "Woods and [co-author Kevin] Gutzman appeal to both left and right in this constitutionalist jeremiad…. The authors' exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling."
    -Publishers Weekly

  • "A marvelous read. Every chapter taught me something new and unexpected."
    -Tom Bethell, senior editor,
    The American Spectator

  • "The hottest book today is Meltdown, by my friend Tom Woods."
    -Judge Andrew Napolitano, senior judicial analyst,
    FOX News Channel

  • "Should be required reading."
    -Economic Affairs (London)

  • "Woods, one of the best classical liberal [libertarian] scholars of his generation, has once more placed us in his debt with this lucid and tightly argued book."
    -David Gordon, The Mises Review

  • "Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy."
    -Peter Schiff

Deep Thoughts, by Mike Bloomberg

New York City’s mayor on the sequester:

We are spending money we don’t have. It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money.… Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.

(Thanks to Joe Helms.)

Unlearn the Propaganda!

  • Anonymous

    Like I said years ago when Cheney said “Deficits don’t matter”: Two words: “Nuclear Blackmail”.

  • Anonymous

    Bloomberg has it wrong.. they can and will stop lending us money. China is stockpiling gold and buying up mining operations… most people ignore all the trade agreements countries have been making that exclude use of the dollar.

  • http://twitter.com/ChrisRossini ChrisRossini

    What’s “preposterous” is that people take this dictator seriously.

  • Anonymous

    I agree.. So, it’s either default or hyperinflation….Flip a coin?
    Ha! Talk about regime uncertainty!

  • Jimi

    Is Bloomberg high?

  • Evgeny

    *And that’s a problem for the lenders. They can’t stop lending us more money.*
    First statement is true for future.
    Last statement was true for decades and is true right now.

    This is kind of half-truth.
    Can we provide arguments now to prove this is a half-truth?

  • Anonymous

    Well he’s right in the sense that this is why the wheel keeps spinning. But it’s math as they say. At some point the house of cards gets so big that all it will take is a light fart to blow it over. The people lending the money, what happens when they run out of money to lend? What happens when the dollar crashes from inflation? What if OPEC drops the dollar? What if we have a huge natural disaster? What happens when our debt interest is so high it equals our tax revenue? What’s the stat, I belive it’s 5,000 new social security and medicare recipients/day? So that’s what 1.8 million/year, another 7.3 million by the end of Obama’s term? 7.3 million new takers and fewer earners. How much more do those people cost? We’re doing to have an epic downfall.

  • http://www.facebook.com/steve.mcnair.5030 Steve Mcnair

    I guess he figures they’ll keep lending to us with all the money NYC will save on 16 oz. sodas, styrofoam, salt, transfats, etc.

  • Luke Sunderland

    Wow! The lunacy reaches new heights on a daily basis anymore. How can anybody take this man seriously?

  • Dorwin Dow

    THEATER OF THE ABSURD

    Théâtre de l’Absurde) is a designation for particular plays of absurdist fiction written by a number of primarily European playwrights
    in the late 1950s, as well as one for the style of theatre which has
    evolved from their work. Their work expressed the belief that human
    existence has no meaning or purpose and therefore all communication
    breaks down. Logical construction and argument gives way to irrational
    and illogical speech and to its ultimate conclusion, silence.

    http://en.wikipedia.org/wiki/Theatre_of_the_Absurd

  • Anonymous

    Aaah, an engineer’s take. Good stuff.

  • the ‘liberal rater’

    Everyone is printing money. So they print money to lend to us and we print money to pay them back. Maybe it ends when someone runs out of ink.

  • http://www.facebook.com/people/Brandon-Clobes/772274525 Brandon Clobes

    lol tom certainly does have a way picking titles its been making me giggle ever since i read it

  • Anonymous

    It ends when everything they tax goes to pay the interest on the debt.

  • Anonymous

    China’s housing market has also peaked and started to crumble. 30% vacancy, and the average apartment costs 45 times average yearly income. They’re in for a huge housing bubble collapse, and won’t be buying much more US debt.

  • Anonymous

    “What happens when our debt interest is so high it equals our tax revenue?”

    That, friend, is the end.

  • Anonymous

    The Chinese are heading into a recession. The only entity willing to buy our debt, loan us money, is the Federal Reserve.

  • http://www.facebook.com/people/Benjamin-Allen-Whetham/727059078 Benjamin Allen Whetham

    Not gonna happen. China has more than enough second strike capability to call that bluff.

  • Anonymous

    Remember, these are the guys who said Iraq was gonna be a “cakewalk”

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