Episode 204 Trump believes international trade is another 'war' the U.S. has to win with tariffs

Summary:Libertarians and other free market advocates tend to dismiss Trump’s tariff policy out of hand as simply economically ignorant mercantilism. But the policy advisors around Trump are not ignorant of free trade arguments but rather are highly credentialed economists whose true arguments must be first understood before being refuted. Austrian economist Robert P. Murphy, Ph.D. joins Tom to help listeners do just that.Guest Bio:Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America’s Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show.Links:Watch this episode on You TubeUnpacking the Document that Spells Out Trump’s Tariff Strategy (Human Action Podcast)A User’s Guide to Restructuring the Global Trading System (paper analyzed in link above)More trade analysis at Bob’s InFi: The Future of FinanceBob’s X FeedFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:Many people are debating the effects of Trump’s tariffs on traditional free trade vs. protectionism grounds. But Peter Schiff says no one is talking about what artificially reducing trade deficits with tariffs may do to the U.S. dollar and U.S. bonds.Guest Bio:Peter Schiff is the Senior Economist and Chief Market Strategist for Euro Pacific Asset Management. He's also host of the Peter Schiff show and a frequent expert guest on financial programs in the national media. Peter is renowned for predicting the 2008 financial crisis years in advance and has continued to correctly forecast economic and financial conditions in the U.S and around the world.Links:Watch this episode on You TubeEuro Pacific Asset Management websiteThe Peter Schiff Show on You TubePeter’s X accountFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com! Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:President Trump has designated April 2, 2025 “Liberation Day,” as he claims the reciprocal tariffs he imposes on American importers will make the rest of the country freer. But tariffs don’t make a country freer or richer and aren’t beneficial even as a response to like treatment from trading partners. As have conservatives throughout American history, Trump views trade as a zero sum game, an economic ‘war,’ with winners and losers.Links:Watch this episode on YouTubeFree Excerpt: Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness?Economics Was Invented to Refute Trump’s Tariff ArgumentsOur History of Protectionist Tariff Train Wrecks December 6, 1887: Third Annual Message (President GroverCleveland)Industrial Production – 100 Year ChartIs U.S. Manufacturing Really Declining?Economics in One LessonFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:Pundits constantly refer to a supposedly binary “political spectrum” with extreme conservatism on one end and extreme liberalism on the other. Often libertarians are talked about as if they fall somewhere between these two extremes. But this is a false paradigm. Conservatives, libertarians, and the people we now call “liberals” have three completely different views of human nature and ideas about the purpose of government. Links:Watch this episode on YouTubeFree Excerpt: Where Do Conservatives and Liberals Come From? And What Ever Happened to Life, Liberty and the Pursuit of Happiness?Locke: Two Treatises of GovernmentHobbes: LeviathanBurke: Reflections on the Revolution in FranceRousseau: The Social ContractFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:The stock market has entered correction territory and financial pundits wonder if a recession is coming. Are Trump’s tariffs to blame? Mises Institute economists Jonathan Newman, Ph.D joins Tom to discuss the economy, recession fears, Trump’s policies, and the business cycle.Guest Bio:Dr. Jonathan Newman is a Fellow at the Mises Institute where he has also taught graduate level courses. Previously, he was Associate Professor of Economics and Finance at Bryan College. He earned his PhD at Auburn University while a Research Fellow at the Mises Institute and was the recipient of the 2021 Gary G. Schlarbaum Award to a Promising Young Scholar for Excellence in Research and Teaching. He has published in the Quarterly Journal of Austrian Economics and in volumes edited by Matthew McCaffrey and Per Bylund. His commentary appears regularly in the Mises Wire and Power & Market. Jonathan is also the author of two children’s books: The Broken Window and Ludwig the Builder.Links:Watch this interview on YouTubeGet a free copy of Murray Rothbard’s What Has the Government Done to Our Money?Jonathan’s Books: The Broken Window and Ludwig the BuilderJonathan’s X ProfileJonathan’s CommentariesFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:In order to deport illegal immigrants who belong to criminal gangs more expeditiously, President Trump has invoked the 1798 Alien Enemies Act. His premise in justifying using this due process workaround is that the state of illegal immigration and its related maladies like drug trafficking constitute a war. Federal judges have ruled against this argument. Ironically, it’s the same dispute that occurred when the act was passed and the related “Alien and Sedition Acts” led to the theory of state nullification of federal laws and ultimately to the elevation of Jefferson’s Republicans and the destruction of the Federalist Party. Links:Watch this episode on YouTubeJefferson and Madison: Regulating Immigration a Power “No Where Delegated to the Federal Government”Virginia and Kentucky Resolutions (1798)The Report of 1800Chy Lung vs. Freeman (text)The U.S. ConstitutionFree Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies! Like the music on Tom Mullen Talks Freedom?You can hear more at tommullensings.com!

Summary:It has been five years since the federal and most state governments announced American society would be shut down for “two weeks to flatten the curve.” What followed was a series of atrocities that were immoral, unscientific, unjustified, and completely ineffective. The Covid Regime must not be allowed to stand.Links:Watch this episode on YouTubeComprehensive Study on Government Covid Policies Concludes They Did Nothing (but harm)Don’t Confuse the Scientists with Science: Thomas Kuhn and the Covid CultJob Creation Still Hasn’t Recovered from the Useless Covid LockdownsThe absurd proposition of Covid-19 lockdowns (April 21, 2020)When the Coronavirus Shutdown is over, will anyone blame their governments for the economic devastation they caused? (April 4, 2020)The State and Federal Governments’ Coronavirus Response Will Dwarf Economic Damage Done by FDR (March 21, 2020)Free Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Subscribe to Tom’s Substack here!Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:DOGE has dominated the news with its recommended cuts to the federal budget. But most people have no idea how most of the $7 trillion per year is spent or how it's funded. Tom breaks down federal spending and tax revenues to clarify where the money comes from and where it goes.Links:Watch this episode on YouTubeThe Budget and Economic Outlook: 2025 to 2035 (CBO)Total US Government Spending (federal, state, local)Trump's cuts could cause (necessary) economic pain (Tom's Substack)Free Gifts from Tom:Get a free copy of It’s the Fed, Stupid at itsthefedstupid.com!Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in this free excerpt of Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:President Trump made good on his promise to Libertarians to pardon Ross Ulbricht, given a life sentence by the government for creating a website. Jacob Hornberger joins Tom to discuss the case for similarly pardoning Ian Freeman, the popular libertarian radio personality who was similarly prosecuted by the government for crimes he did not commit. Guest Bio: JacobG. Hornberger is founder and president of The Future of Freedom Foundation. He received his B.A. in economics from Virginia Military Institute and his law degree from the University of Texas. He was a trial attorney for twelve years in Texas. In 1987, Mr. Hornberger left the practice of law to become director of programs at the Foundation for Economic Education. He has advanced freedom and free markets on talk-radio stations all across the country as well as on Fox News’ Neil Cavuto and Greta van Susteren shows and he appeared as a regular commentator on Judge Andrew Napolitano’s show Freedom Watch. Links:Watch the video version of this interviewSign the Petition to Free IanStatism Was Alive and Well in Ian Freeman’s Appellate HearingFuture of Freedom FoundationJacob’s X feedFree Gifts from Tom:Download a free copy of Tom's e-book, It’s the Fed, Stupid, at itsthefedstupid.com.It’s also available in paperback here. It’s priced at a pre-hyperinflation level so grab a few copies for friends if you can.Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Check out Tom’s new podcast, Tom Mullen Talks Movies! Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!

Summary:The administrative state has waged a war against automobiles for decades, its intensity increasing exponentially with each new Democratic president. They have regulated full-size sedans out of existence and soon will do the same for all internal combustion engine vehicles if they are not stopped. Only those affluent enough to afford electric cars will be able to drive. Can Trump save automobile ownership for average Americans? “Libertarian Car Guy” Eric Peters joins Tom to discuss.Guest Bio:Eric Peters started out writing about cars for mainstream media outlets such as The Washington Times, Detroit News and Free Press, Investors Business Daily, The American Spectator, National Review, The Chicago Tribune and Wall Street Journal.Links:Watch the video version of this interview on YouTubeEric’s website (EPAUTOS.COM)Eric’s X Account (@LibertarianCarG)It Snowed! Shut Down the World!Clover’s, RevisitedThe Market vs. CAFEFree Gifts from Tom:Download a free copy of Tom's e-book, It’s the Fed, Stupid, at itsthefedstupid.com. It’s also available in paperback here.It’s priced at a pre-hyperinflation level so grab a few copies for friends if you can.Learn more about the philosophical differences between conservatives, liberals, and the founding fathers in Tom’s 2015 book, Where Do Conservatives and Liberals Come From?Check out Tom’s new podcast, Tom Mullen Talks Movies!Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!