Brexit and Trump’s UK visit

I was recently in an interview on NTN24 (a CNN-type TV channel for the Spanish-speaking world) about President Donald Trump’s visit to the United Kingdom. Although the topic of Brexit was not supposed to be on the agenda for this state visit—especially in the presence of the queen—it seemed that Brexit was the first topic Trump brought up. Continue Reading...

Europe’s dream

Last week, EU voters went to the polls in the latest round of the project of pan-European governance, another step on the supposed road to further unity and prosperity. The results were varied and at odds with one another, and the only constant seems to be dissatisfaction with the status quo. Continue Reading...

Alejandro Chafuen in Forbes: European elections

Alejandro Chafuen, Acton’s Managing Director, International, comments in Forbes today on the results of the European Parliament elections that concluded this past Sunday. Many European countries showed gains for nationalist, Euroskeptic and environmentalist parties at the expense of more traditional centrist groups and of socialist parties. Continue Reading...

Pope Francis on ‘fake charity’

At the recent Vatican meeting of Catholic Charities Pope Francis praised the participants for their concern for the poor and marginalized, but warned them of the danger of “fake charity.” Carol Glatz writes in Catholic Herald: Charity is not a sterile service or a simple donation to hand over to put our conscience at ease,” he said. Continue Reading...

Great news: Even ‘socialists’ love the free market (poll)

A Gallup poll released Monday made headlines: “Four in 10 Americans Embrace Some Form of Socialism.” However, the headline could have read, “Seven in 10 Americans reject the central premise of socialism.” When Gallup asked if “some form of socialism” would be “a good thing or a bad thing,” 41 percent said it would and 52 percent said it would not. Continue Reading...

Alejandro Chafuen in Forbes: Xi Jinping’s ‘New Long March’

Alejandro Chafuen, Acton’s Managing Director, International, writes today in Forbes of the growing trade war between the United States and China. Chinese president Xi Jinping recently characterized the road ahead as a “new Long March,” in a reference to Mao Zedong’s legendary strategic retreat from Chiang Kai-Shek’s nationalist forces in 1934. Continue Reading...

Should credit-card interest be capped at 15%?

Democratic presidential primary contender Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez have unveiled a plan to cap credit-card interest rates at 15%: Under the “Loan Shark Prevention Act,” the annual percentage rate applicable to any extension of credit would not be allowed surpass 15% on “unpaid balances, inclusive of all finance charges” or “the maximum rate permitted by the laws of the State in which the consumer resides.” Consumer debt, and credit card debt in particular, is something many Americans struggle with and both the amount of total debt as well as the interest rates have escalated in recent years: The median credit-card interest rate was 21.36% as of last week, compared with 12.62% a decade ago, according to Creditcards.com. Continue Reading...