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Stocks crash after China devalues its currency.

Policy and Government

The WSJ reports Trump’s advisers were strongly against the new tariffs on China…except Peter Navarro.


CNBC reports the Dow Jones crashed after China devalued its currency.

Bloomberg reports Director Kudlow says the U.S. won’t devalue the dollar.

In the Washington Times, Stephen Moore says the Fed shouldn’t compete with private banks.

This 2017 column by TSS editor in chief Ralph Benko on the gold standard (and President Trump) enjoys its one-millionth reader.

At Project Syndicate, Raghuram Rajan expresses concern that “now, central bankers must ease monetary policies in response to populist mistakes for which they themselves will be blamed” and will be made the fall guy by the politicos when the chickens come home to roost.

Joakim Book at AIER analyzes “Egregious Errors in The New Yorker’s Account of The Invention of Money.”

At, John Tamny says Facebook’s Libra is prompted by unstable money.


Sterling Burnett at reflects on the declaration of a prominent progressive thought leader that “climate change” was intended by some progressives as mainly a clever ruse by which to impose government control on the economy, a/k/a socialism.


At Foreign Policy, Michael Auslin wonders if the Asian century is over.

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