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June 11, 2025
Welcome to The Lighthouse, the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.
Dear Readers,
The ongoing protests, which started in Los Angeles and have since spread to other cities, have sparked a conversation about what freedom of movement and freedom of association really mean.
Over the past several days, federal agents have clashed with protesters. This conflict was brought about by a series of raids conducted by ICE. Tensions rose when President Trump deployed the National Guard despite objections from Governor Gavin Newsom. The president has also proposed that active-duty military personnel, such as the Marines, may be sent in to keep order, which also calls into question the historical constraints on the employment of military force in domestic law enforcement.
For some, the federal response is crucial to uphold order. However, the protests were in no small part due to the systematic lawlessness of immigration authorities, particularly ICE. They have adopted the tactics of secret police, imprisoning and deporting without due process, ignoring the Constitution, and circumventing the legal constraints necessary for the rule of law and a free society.
This does not mean that protestors are free to riot. Violence and property destruction harm innocent people.
This week’s articles give context and opinion on government power, markets, surveillance, and personal freedom. Alvaro Vargas Llosa writes about the Federal Reserve’s role in creating easy money and how it only worsens the issue by buckling to political pressure. In a pair of articles, Ray March discusses trusting the states to make health-related prohibitions and how a lack of transparency and inordinate political control have changed little since the mishandling of the COVID-19 pandemic. Craig Eyermann reflects on Musk’s time with DOGE. Nikolai G. Wenzel tackles trade deficits. Finally, I report on a bipartisan privacy reform.
Jonathan Hofer
Managing Editor
Top picks this week
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** Politicizing the Fed ([link removed])
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** by Alvaro Vargas Llosa
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Easy money policies have distorted asset prices and inflated speculative bubbles, enriching the elite while undermining the real economy.
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** Food Dye Bans Should Be Left to the States ([link removed])
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** by Raymond J. March
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Any complex question in health or public policy is better addressed with experimentation and varied approaches. A federal ban provides the opposite.
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** Is RFK Jr. Asking Us to “Follow the Science?” ([link removed])
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** by Raymond J. March
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The potential for government agencies to misguide and distort science remains.
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** The Musk Era of DOGE Ends ([link removed])
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** by Craig Eyermann
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It would be unfortunate if Congress let this rare opportunity to solve a problem they all claim to oppose slip away.
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** Remembering the Capital Account Surplus ([link removed])
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** by Nikolai G. Wenzel
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The U.S. financial market’s dominance likely won’t go on forever, and foolish policies certainly won’t help it last.
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** Virginia Passes Plate Reader Oversight Bill ([link removed])
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** What House Bill 2724 accomplishes ([link removed])
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** by Jonathan Hofer
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HB 2724 adds needed safeguards to ALPRs. It’s not perfect, but usage policies are better than no policies.
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** FEATURED BOOK - AVAILABLE SOON!
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** The 1619 Project Myth ([link removed])
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** by Phillip W. Magness
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“There is no one better to pick apart the disastrous 1619 Project than Phil Magness. If every classroom that incorporated the 1619 Project into its curriculum replaced it with this book, the country would be better off.”
—Coleman Hughes, American writer, podcast host, and visiting professor at the University of Austin
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