logo
Robby's Radar: Elon Musk should join the Libertarian Party

Robby's Radar: Elon Musk should join the Libertarian Party

The Hill2 days ago

I have an idea for Elon Musk: join the Libertarian Party!
Actually, don't just join it — take it over!
Let me explain.
Musk and President Trump seem to have entered some kind of détente following their big blowup last week. The world's richest man is no longer tweeting constantly about Trump being on the Epstein client list, or about how he feels betrayed over the big beautiful bill, which will massively increase the deficit despite Republican promises to finally cut government spending. In fact, he's spent the last several days tweeting about the Los Angeles riots and the importance of emerging AI technology.
Trump, for his part, is refusing to engage Elon with particular hostility. Trump recently told reporters that he would be keeping the Tesla he bought from Musk, that he would continue using Starlink, Musk's internet service, and that he wished Elon well.
I try not to make political predictions, but it actually would not surprise me in the least if Trump and Elon makeup — or at the very least, if the Republican Party maintains a friendly enough connection to Elon so that the tech billionaire remains a financial backer of, say, Vice President JD Vance when he inevitably runs for president.
But here's an alternative idea I'd like to plan in Musk's head, as he is currently party shopping.
As a Libertarian Party member, and voter, I would be thrilled to welcome Elon into the party — and I suspect I wouldn't be alone. After all, the Libertarian Party is a natural fit for Elon, whose politics mostly seem to align with Rand Paul and Thomas Massie, the two most libertarian members of Congress in the Republican Party.
Elon wants low taxes, lower spending, low regulation, and thinks the federal government's priorities should reflect that: Cut the deficit first, get our fiscal house in order, and worry about the other stuff later. He also wants government regulations to be friendly to technological growth, is particularly motivated to prevent censorship on social media, and thinks the federal response to the COVID-19 pandemic was authoritarian. These are all textbook libertarian issues.
What's more, the current trajectory of the Libertarian Party makes it ideal for some new leadership.
For years, the party has been the nation's third or fourth largest, alongside the Green Party. In the 2016 election, Libertarian nominee Gary Johnson received 4.5 million votes and about 3 percent of the national vote, a record at the time. In 2020, the Libertarian nominee received about 1 percent of the national vote. In both of those elections, it finished ahead of the Green Party.
Behind the scenes, however, the party has gone through something for a transformation over the last two cycles. Johnson, the 2016 nominee, was perceived by some within the Libertarian Party as too liberal and mainstream — not based enough to attract contrarians and dissidents to the party. In response, a faction calling itself the Mises Caucus formed and attempted to take control of the party. In 2022, they succeeded. Their strategy was podcast-focused: Find people who listen to Joe Rogan and like-minded independent thinkers and draw them to the Libertarian Party.
The strategy had a certain amount of merit. The party ended up flirting with Robert F Kennedy Jr., and found itself having significant audience overlap with him. But eventually, Kennedy made a quasi-endorsement of Trump and essentially withdrew from the presidential race. Meanwhile, at the Libertarian National Convention, delegates bucked the Mises Caucus and picked their least preferred candidate, Chase Oliver.
In response, the Mises Caucus leadership barely tolerated the Libertarian candidate, hindering his campaign in numerous ways. The party's chairwoman, Angela McArdle, the highest-ranking Mises Caucus official, subsequently resigned from the party. The new chair is not a member of this faction and is trying to chart a more neutral course and reunite the party, though the Mises Caucus has vowed to retake control.
So that's where we are now: The Libertarian Party could use some new people, some new leadership, and probably a new infusion of cash. If Elon Musk really wants to make Republicans sorry that they failed to live up to his expectations and cut government spending — but quite rationally believes that Democrats will never ever, ever do better — he might find he has the most in common with the ticket that gets my vote every year.
Robbie Soave is co-host of The Hill's commentary show 'Rising' and a senior editor for Reason Magazine. This column is an edited transcription of his daily commentary.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

DoubleLine's Gundlach Says ‘Reckoning Is Coming' for US Debt
DoubleLine's Gundlach Says ‘Reckoning Is Coming' for US Debt

Yahoo

time20 minutes ago

  • Yahoo

DoubleLine's Gundlach Says ‘Reckoning Is Coming' for US Debt

(Bloomberg) -- America's debt burden and interest expense have become 'untenable,' a situation that may lead investors to move out of dollar-based assets, according to DoubleLine Capital's Jeffrey Gundlach. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban NY Long Island Rail Service Resumes After Grand Central Fire Do World's Fairs Still Matter? 'There's an awareness now that the long-term Treasury bond is not a legitimate flight-to-quality asset,' the veteran bond manager said Wednesday in an interview at the Bloomberg Global Credit Forum in Los Angeles. A 'reckoning is coming.' In a wide-ranging discussion that also touched on gold's attractiveness, stretched market valuations, the state of private credit, artificial intelligence and long-term investment opportunities in India, Gundlach said investors should consider increasing their non-dollar-based holdings, adding that his firm was starting to introduce foreign currencies into its funds. His comments came a day before a closely watched auction for 30-year Treasury bonds. Gundlach, 65, likened today's market to the environment in 1999, just before the dot-com bust, as well as 2006 and 2007 before the global financial crisis. Going further, he said the booming private credit sector is analogous to the market for collateralized debt obligations, or CDOs, in the mid-2000s, 'where there's just tremendous issuance, there's tremendous acceptance.' The investor noted that public credit markets have outperformed their private counterparts in recent months, and sees 'overinvestment' — and a risk of forced selling — in the latter. 'I just don't think the excess reward is anything close to what it used to be,' Gundlach said. He cited possible selling of private assets by US institutions such as Harvard University, which has explored offloading part of its endowment's private equity holdings as the Trump administration cuts off grants and funding. Gundlach founded DoubleLine in 2009 after a contentious exit from TCW, where he'd become a star bond manager. DoubleLine managed $93 billion in assets and had more than 250 employees as of March. The firm and its founder haven't shied away from bold takes. Gundlach, who called Donald Trump's first presidential win in 2016, gave the Federal Reserve an F grade in September for its response to the economy as he correctly predicted a half-point rate cut, and earlier this year the firm posed an open question of whether Microsoft Corp. debt was safer than Treasuries. Next Stop 6%? As for Treasury debt, Gundlach said yields on long-term bonds could continue to rise as the economy starts to weaken. If yields reached 6%, that could prompt the Federal Reserve to step in and start quantitative easing, buying long-term Treasuries to rein in borrowing costs. DoubleLine and peers including Pacific Investment Management Co. and TCW Group Inc. have been avoiding the longest-dated US government bonds in favor of shorter maturities that carry less interest-rate risk in the face of spiraling federal debt and deficits. US 30-year yields touched a near two-decade high of 5.15% last month, and traded at around 4.9% on Thursday. In a telling sign, yields on the long-term benchmark are higher year to date, even as rates on shorter-term Treasuries have fallen. While known for his fixed-income calls, Gundlach has grown more bullish on gold, doubling down on its status as a 'real asset class' and one that is 'no longer for lunatic survivalists' and speculators. 'We have a tremendous paradigm shift where money is not coming into the United States, and gold is suddenly the flight to quality asset,' he said. Gundlach previously predicted that the price of gold would shatter records, as happened this year, and in May, he told CNBC that the precious metal could swell to $4,000 per ounce, up from about $3,350 now. He also pointed to India as one of the 'most bankable' long-term investment opportunities. 'The way to invest in periods like this is to go with long-term themes,' Gundlach said. 'It might take 30 years, but you should invest in India because it has a similar profile today that China had 35 years ago.' --With assistance from Elizabeth Campbell, Loukia Gyftopoulou and Michael Mackenzie. (Adds the 30-year Treasury auction in the third paragraph.) New Grads Join Worst Entry-Level Job Market in Years American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Tencent Said to Study Deal for $15 Billion Game Developer Nexon
Tencent Said to Study Deal for $15 Billion Game Developer Nexon

Yahoo

time20 minutes ago

  • Yahoo

Tencent Said to Study Deal for $15 Billion Game Developer Nexon

(Bloomberg) -- Tencent Holdings Ltd. is studying a potential deal for Nexon Co., as the Chinese internet giant looks for ways to bolster its lucrative gaming operations, people with knowledge of the matter said. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban NY Long Island Rail Service Resumes After Grand Central Fire Do World's Fairs Still Matter? Shenzhen-based Tencent has reached out to the family of Nexon's late founder Kim Jung-ju to discuss the possibility of an acquisition, the people said, asking not to be identified because the information is private. Kim's family has been speaking to advisers and evaluating options, according to the people. Kim's relatives hold their stake through family investment firm NXC Corp., which — together with affiliated unit NXMH BV — owned 44.4% of Nexon as of June 30, according to Nexon's interim report. Kim's wife and daughters own about 67.6% of NXC. It's unclear how receptive NXC is to a sale of the Nexon holding, and there's no certainty Tencent's deliberations will lead to a transaction, the people said. The structure of any deal hasn't been finalized, they added. A representative for Tencent didn't respond to a request seeking comment, while Nexon and NXC declined to comment. The move comes as Tencent, which already pursued an acquisition of Nexon in 2019, makes fresh forays into other South Korean assets. A subsidiary agreed to buy a nearly 10% stake in Seoul-based music producer SM Entertainment Co. in late May, just as an unofficial ban on K-pop in mainland China wanes. Known for role-playing games like MapleStory, Nexon was founded in South Korea in 1994 and listed in Japan in 2011, in one of the biggest tech-related initial public offerings at the time. Nexon shares have climbed more than 10% in Tokyo trading this year, giving the company a market value of about $15 billion. Changes in the shareholding structure after Kim's death in 2022 could complicate any deal. Family members handed the Korean government a stake in the NXC holding company in 2023 to settle an inheritance tax bill. Kim's wife and two daughters inherited his stake in NXC after he died in Hawaii. The family also sold treasury shares in NXC back to the holding company for 650 billion won ($478 million) in August. The Korean government has sought to sell its holding but failed to find a suitor, local media reported. Shares of rival game developers like Ubisoft Entertainment SA, GungHo Online Entertainment Inc. and Sega Sammy Holdings Inc. have declined this year. While Nexon shares are up in 2025, they're nearly 30% off a peak in 2021. NXC explored a sale of its Nexon stake six years ago, attracting interest from Tencent as well as buyout firms such as KKR & Co. and Hillhouse. The sale process was eventually shelved because of a failure to agree on price, Bloomberg News reported at the time. Nexon and Tencent have already worked together, developing Dungeon & Fighter, a key revenue generator. In March, Tencent agreed to invest €1.16 billion ($1.3 billion) for a 25% stake in a new Ubisoft unit that holds the rights to intellectual properties including Assassin's Creed. Nexon's first-quarter net sales totaled about ¥114 billion, while net income was ¥26 billion. --With assistance from Sohee Kim and Zheping Huang. New Grads Join Worst Entry-Level Job Market in Years American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again ©2025 Bloomberg L.P.

Trump's past feuds don't bode well for Elon Musk
Trump's past feuds don't bode well for Elon Musk

USA Today

time21 minutes ago

  • USA Today

Trump's past feuds don't bode well for Elon Musk

Trump's past feuds don't bode well for Elon Musk Show Caption Hide Caption President Trump gives his thoughts on Elon Musk amid clash on bill President Donald Trump responded to Elon Musk's criticism of his "big, beautiful bill" with disappointment as Musk responded on X. WASHINGTON − If history is any guide, and there is a lot of history, the explosive new falling-out between President Donald Trump and Elon Musk is not going to end well for the former White House adviser and world's richest man. The political battlefield is littered with the scorched remains of some of Trump's former allies who picked a fight with him or were on the receiving end of one. Lawyer Michael Cohen. Political adviser Steve Bannon. Attorney General Jeff Sessions, Defense Secretary James Mattis and Secretary of State Rex Tillerson. John Bolton, John Kelly and Chris Christie, to name just a few. 'If what happened to me is any indication of how they handle these matters, then Elon is going to get decimated,' said Cohen, the former long-term Trump lawyer and fixer who once said he'd 'take a bullet' for his boss. Musk, he said, "just doesn't understand how to fight this type of political guerrilla warfare." 'They're going to take his money, they're going to shutter his businesses, and they're going to either incarcerate or deport him,' Cohen said. 'He's probably got the White House working overtime already, as we speak, figuring out how to close his whole damn thing down.' Cohen had perhaps the most spectacular blowup, until now, with Trump. He served time in prison after Trump threw him under the bus by denying any knowledge of pre-election payments Cohen made to a porn actress to keep her alleged tryst with Trump quiet before the 2016 election. More: President Trump threatens Elon Musk's billions in government contracts as alliance craters Cohen felt so betrayed by Trump that he titled his memoir 'Disloyal,' but the Trump administration tried to block its publication. Cohen ultimately fought back, becoming a star witness for the government in the state 'hush money' case and helped get Trump convicted by a Manhattan jury. More: Impeachment? Deportation? Crazy? 6 takeaways from the wild feud between Trump and Elon Musk Some suffered similar legal attacks and other slings and arrows, including Trump taunts and his trademark nasty nicknames. Trump vilified others, casting them into the political wilderness with his MAGA base. When Sessions recused himself from the Justice Department's investigation of Russian meddling in the 2016 election, Trump savaged him, calling his appointment a 'mistake' and lobbing other epithets. Sessions resigned under pressure in 2018. When he tried to resurrect his political career by running for his old Senate seat in Alabama, Trump endorsed his opponent, who won the GOP primary. After firing Tillerson, Trump called the former ExxonMobil chief lazy and 'dumb as a rock.' Trump still taunts Christie, an early supporter and 2016 transition chief, especially about his weight. Trump also had a falling-out with Bannon, who was instrumental in delivering his presidential victory in 2016 and then joined the White House as special adviser. 'Steve Bannon has nothing to do with me or my presidency,' Trump said in 2018, a year after Bannon's ouster from the White House. 'When he was fired, he not only lost his job, he lost his mind.' Trump's Justice Department even indicted Bannon in 2020 for fraud, though the president pardoned him before leaving office. One of Trump's biggest feuds was with Bolton, whom he fired as his national security adviser in 2019. Trump used every means possible to prevent Bolton's book, 'The Room Where it Happened,' from being published, Bolton told USA TODAY on June 5. That included having the U.S. government sue his publisher on the false premise that Bolton violated a nondisclosure agreement and was leaking classified information, Bolton said. Bolton said Musk is unlike most others who have crossed swords with Trump in that he has unlimited amounts of money and control of a powerful social media platform in X to help shape the narrative. Musk also has billions in government contracts that even a vindictive Trump would have a hard time killing, as he threatened to do June 5, without significant legal challenges. Even so, Bolton said, "It's going to end up like most mud fights do, with both of them worse off. The question is how much worse the country is going to be off."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store