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The Lighthouse®

The Lighthouse® is the weekly email newsletter of the Independent Institute.
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Volume 25, Issue 9: March 2, 2022

Victor Davis Hanson (American Greatness)
One of the oddest commentaries about the Russian invasion of Ukraine? “This does not happen in the 21st century.” But why? Are we smarter than the Romans? More innovative than the Florentines? Do we have more savvy leaders than Lincoln or Churchill? Turns out, as the long road to Kyiv proves, the ancient idea of deterrence is not as obsolete as the Davos elite would have us believe. How do we restore it? READ MORE »



Judy Shelton (Wall Street Journal)
How will the Russian invasion of Ukraine affect the Fed’s most pressing challenge: inflation? The Fed could still artificially raise interest rates, but that would spook equity markets, pleasing Putin, who needs in the West any instability he can get. Far better if the Fed, by unwinding its massive holdings of government-backed securities, gave international capital the safe haven it, post invasion, now seeks. A freer, richer America is Putin’s nemesis. READ MORE »



Alvaro Vargas Llosa (The American Spectator)
Among collectivist narratives, none is more powerful than nationalism—particularly one based on a foundational myth that includes an all-too-familiar imperialist lie: “the country next door belongs to us.” Until the West understands that, Russian President Vladimir Putin will be a danger both to regional stability and to world peace. READ MORE »



Michael Rechtenwald
At its core, the Great Reset is the development of the Chinese system in the West—only in reverse. China began with a socialist political system and introduced private for-profit production later. The West began with a degree of capitalism; it is now implementing a socialist political system. But Great Reset corporatism is merely economic fascism with a fancy name. Will Americans be fooled by it? READ MORE »



Steve H. Hanke and Nicholas Hanlon (Wall Street Journal)
Federal Reserve Chairman Jerome Powell still believes that inflation and the money supply are unrelated. But the facts say otherwise. How much money we print matters—we’ve known that since the Renaissance. When will Chairman Powell catch up? READ MORE »



Stephen. P. Halbrook (Ukrainian Law Journal, “Law of the USA,” 2013)
As the Ukrainian government expands civilian access to firearms, in the midst of a Russian invasion, it is good to remind ourselves, thanks to Stephen P. Halbrook’s important article, just how unique America is in its constitutional right of citizens to keep and bear arms. May we, and the newly armed Ukrainians, never lose it.... READ MORE »



Lee E. Ohanian (California on Your Mind)
California, where about 47 percent of the country’s unsheltered homeless live, spent $12 billion between 2019 and 2021 to fix the problem—only to see it get worse. The reaction so far from Governor Newsom to Republican ideas to fix things? Silence. And that’s sad, because solutions (like dealing with mental illness and substance abuse) don’t have party lines. READ MORE »





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