For about 20 years, Ray Keating wrote a weekly column - a short time with the New York City Tribune, more than 11 years with Newsday, another seven years with Long Island Business News, plus another year-and-a-half with RealClearMarkets.com. As an economist, Keating also pens an assortment of analyses each week. With the Keating Files, he decided to expand his efforts with regular commentary touching on a broad range of issues, written by himself and an assortment of talented contributors and columnists. So, here goes...

Thursday, July 30, 2020

PRESS CLUB C Podcast with Ray Keating – Episode #23: Feeling a Sense of Place



After a recent visit to the campus of the University of Notre Dame, Ray started reflecting on why certain places hold meaning for individuals. So, Ray rambles on in this episode about a sense of place, why we might feel it (perhaps, at first glance, inexplicably), and his top 10 spots that give him a sense of place. Tune in here! 

Monday, July 27, 2020

PRESS CLUB C Podcast with Ray Keating – Episode #22: The Redskins Should be Renamed the Washington Americans


Ray Keating argues that the new name for the Washington Redskins should be the Washington Americans. He highlights two major league sports teams that previously carried the name, or something very close, and sums up why going to Washington Americans should be a no-brainer. Tune in here! 

Sunday, July 26, 2020

New Name for Redskins is Obvious: Washington Americans

by Ray Keating
The Keating Files – July 26, 2020

Whether one agreed with the decision or not, the name “Washington Redskins” is now defunct, along with other NFL team names that are no more, such as the New York Titans (now the New York Jets), the Decatur Staleys (now the Chicago Bears), Portsmouth Spartans (now the Detroit Lions), and the Houston Oilers (now the Tennessee Titans).


When announcing that the temporary name would be the “Washington Football Team,” it was said in a team statement, “The decision to use ‘Washington Football Team’ for this season allows the franchise the ability to undertake an in-depth branding process to properly include player, alumni, fan, community, and sponsor input.”

Well, allow me to save owner Dan Snyder both time and money. 

The right name is obvious: The Washington Americans.

In the four big league sports in the U.S., two teams possessed this name or something close to it. In the NFL, the Buffalo All-Americans (also known as the Bisons and Rangers) played from 1920-29. And in the NHL, the New York/Brooklyn Americans played from 1925-41. 

Snyder should resurrect the “Americans” name. It would fit perfectly for the team that plays in (or near) our nation’s capital city. 

It also would shift the team name from one that generated controversy to a name that should unite people across the country. Well, it should unite people, but who knows? It’s hard to unite Americans on just about anything these days.

So, yeah, there probably would be people who somehow would find a reason to attack or protest the name, but tough. Who cares? 

The “Washington Americans” is the obvious choice. You’re welcome, Mr. Snyder and NFL Commissioner Goodell.

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Ray Keating is a columnist, economist, podcaster and entrepreneur. You can order his new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

Keating also is a novelist. His latest novel is  The Traitor: A Pastor Stephen Grant Novel, which is the 12th  book in the series. In addition, Heroes and Villains: A Pastor Stephen Grant Short Story is the Pastor Stephen Grant Book of the Month for July. The Kindle price has been cut to $2.99. Big sale on signed books and sets at https://raykeatingonline.com/t/book-of-the-month.

Also, tune in to Ray Keating’s podcasts – the PRESS CLUB C Podcast and the Free Enterprise in Three Minutes Podcast  

Saturday, July 25, 2020

Guest Column: No, The Government Should Not Tell Apple How To Make iPhones

by Bryan Riley
The Keating Files – July 25, 2020

A recent Wall Street Journal op-ed, “Bringing the Factories Home: Any new industrial policy has to make the U.S. less vulnerable to Chinese suppliers,” by Hudson Institute Senior Fellow Arthur Herman, adds little to the debate over what to do about China.

Plans to “bring the factories home” come with great risks. One that is rarely mentioned is the likelihood that other countries may decide to copy this policy and “take the factories home.” For the 2.6 million American manufacturing workers employed by foreign-owned companies that have built U.S. factories, this would be a devastating result.

Perhaps the key takeaway from the piece is embodied in the suggestion that the federal government should tell Apple, one of the most innovative and successful companies in American history, how to produce iPhones.

Mr. Herman further suggests that China has a stranglehold on American’s access to important health-care goods like ventilators, and therefore the government should reduce American “dependence” on China-sourced pharmaceuticals and health-care products.


Last year, China accounted for 17 percent of all U.S. ventilator imports. That’s hardly a stranglehold.

Overall, more than half of medical goods and pharmaceuticals used in the USA are made in the USA. China accounts for about 2 percent of the combined U.S. market for medical goods and pharmaceuticals.

According to Mr. Herman, 97 percent of antibiotics used in America are sourced from China. It’s not clear where that statistic comes from. According to data from the U.S. International Trade Commission, about 2.4 percent of U.S. antibiotic imports came from China in 2019.

Perhaps he is referring to “Active Pharmaceutical Ingredients” (APIs) imported from China.

According to March 2019 testimony from the Food and Drug Administration (FDA), “we cannot determine with any precision the volume of API that China is actually producing, or the volume of APIs manufactured in China that is entering the U.S. market.” In June 2020, an FDA spokesman reiterated this: “Data available to FDA do not enable us to calculate the volume of API being used for U.S.-marketed drugs from China or India, and what percentage of U.S. drug consumption this represents.”

This lack of data is certainly problematic. It was addressed by Congress in a CARES Act provision authorizing research to get to the bottom of this. In the meantime, there is no reason to believe that 97 percent of U.S. antibiotics are sourced from China.

Mr. Herman adds: “Asia produces 90 percent of the world’s circuit boards—more than half of them in China.”

This statement is reminiscent of the time Scott Williams (2 points) and Michael Jordan (55 points) combined for 57 points in game 4 of the 1993 NBA finals. Why commingle production by China with that of Japan, Korea, Taiwan, and other U.S. allies? More fundamentally, if U.S. manufacturers can procure affordable circuit boards for garage door openers and refrigerators from abroad, how exactly does that threaten American security?

He repeats this tactic with respect to STEM education: “A 2019 Congressional Research Service report found that India and China together made up nearly 70 percent of foreign students enrolled in STEM courses in the U.S.” It makes even less sense to lump together India and China than it does to combine the scores of Michael Jordan and Scott Williams, unless the goal is to concoct a big, scary number.

Mr. Herman is concerned that manufacturing now makes up 11 percent of U.S. gross domestic product (GDP), compared to 25 percent in the 1960s, and that more than five million American manufacturing jobs have been lost since 2000.

It seems that critics of American manufacturing capacity will look at any measure except for how much we manufacture to justify their policy prescriptions.



Manufacturing output has steadily increased over the years. There is no reason Americans should be concerned that other areas of the economy have grown even more, reducing manufacturing’s share of total GDP.

Nor should Americans be concerned that technological advancements made U.S. workers more productive than ever, reducing the number of manufacturing jobs. The economy added new jobs elsewhere, and overall employment grew.

If there’s a problem with that, the easiest fix would be to fire all the country’s doctors, accountants, teachers, and plumbers and ban all imports of affordable clothing. Manufacturing’s share of GDP would increase, and more Americans could return to factories to run sewing machines 40 hours a week.

As is always the case with industrial policy advocates, the proposed solution to the misdiagnosed problem involves the federal government picking winners and losers -- specifically, “Washington should identify commercial-sector technologies that may be crucial to national security. Artificial intelligence, robotics, quantum technologies and nanotechnology all need a strong domestic manufacturing base.”

Perhaps there are those who sincerely believe in the existence of some wizard or super-computer or fortune-teller or bureaucrat who knows the future, and who can use that knowledge to decide how much money to take from farmer A to throw at robotics company B instead of robotics company C or nanotechnology company D. But history suggests that limiting federal involvement to specific, targeted national security needs is an approach that’s much more likely to work.

Telling pharmaceutical companies how to make drugs and Apple how to make iPhones would make us weaker and worse-off.

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Data Notes:
Ventilator imports based on HTS number 9019.20.0000, “ozone therapy, oxygen therapy, aerosol therapy, artificial respiration or other therapeutic respiration apparatus; parts and accessories.”
Medical goods calculations based on NAICS number 3254, "Pharmaceutical and Medicine Manufacturing," and NAICS number 3391, "Medical Equipment and Supplies Manufacturing." 
Antibiotic imports based on HTS number 3004.10, “medicaments, in measured doses, etc., containing penicillins or derivatives thereof, or streptomycins or their derivatives,” and HTS number 3004.20, “medicaments, in measured doses, etc., containing antibiotics, nesoi.”

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Bryan Riley is Director of the NTU’s Free Trade Initiative. This column was originally published here.

Wednesday, July 22, 2020

The Left and Fellow Conservatives Need to Stop Whining and Enjoy the Game

by Ray Keating
The Keating Files – July 22, 2020

No matter where one sits on the religious, philosophical and political spectrums, we all seem to like it when discovering sports or Hollywood stars who agree with us. At the same time, however, we’re bothered when people famous for making movies or excelling on fields of competition serve up views with which we disagree.

Well, okay. I’ve certainly been guilty of this, and my guess is that most people who care about issues have been as well. 

The question is: How do we react when presented by opposing views – indeed, views we might disagree with quite seriously?

Unfortunately, reactions on both the Left and Right these days tend to be, well, whiny. And does anyone really like whining? I don’t think so.


Among my fellow conservatives (including a good number who call themselves “conservative” but have no idea what it means), too many ramp up the whining because Hollywood is overly populated by liberals (and it is). The assumption is that everything, therefore, coming out of Hollywood is hard-core left wing. It’s especially whiny when some conservatives attack movies or television shows without seeing them, even taking on movies that haven’t been released yet (for example, that was the case with the fine 2018 film First Man). However, if individuals spent more time watching assorted movies, rather than whining about them, they might not only discover some solid storytelling, but also – to quote Arnold (Sam Jackson) in Jurassic Park, “Hold on to your butts” – some conservative themes.

And then there’s the latest controversies emerging as pro sports leagues prepare to return to action. 

This fan is especially appreciative that baseball will return on July 23, followed by the NHL on August 1, and the NFL in September, with golf, NASCAR and beach volleyball already back. (Yes, the NBA will be back at the end of this month, but I’ve never been a big NBA fan.) The sports drought due to the coronavirus pandemic has been too long for this fan, and I greatly appreciate the efforts being put forth by the respective leagues and players in being willing to step back on the field of play even as COVID-19 continues to spread in the U.S. I pray for their safety, and thank them for their efforts in bringing some enjoyment to Americans.

But there’s more in the mix now. The death of George Floyd while in Minneapolis police custody has justifiably led to an assortment of peaceful protests, and an expanded discussion of police brutality. Not surprisingly, many people, especially in minority communities, want to say their piece. That includes pro sports players.

No doubt, people will say and express opinions that others are going to disagree with, but that’s not a negative. Instead, it ranks among the many freedoms that we enjoy in this country, thanks to the ideas and principles expressed in and springing from the Declaration of Independence and the Constitution. Conservatives should understand this – perhaps more so than others given that conservatism recognizes the historic importance of the American founding documents and ideas.

The discussion should be robust but also civil – again, preferably absent of whining. 

Players are free to express themselves on the field of play, as long as their employers provide a thumbs up to do so on “company time,” if you will. If employers are reluctant to do so, then professional athletes also have the wherewithal and soapbox to express their opinions off the field.

In a statement, Farhan Zaidi, the President of Baseball Operations for the San Francisco Giants, said in part: “We support those who knelt peacefully to protest racial injustice and those who stood to express love of country. We do not see these as mutually exclusive sentiments and believe the freedom to express both is what our country is about.” Even if one disagrees with kneeling during the National Anthem, that’s a solid sentiment.

At the same time, sports fans who want their sports “politics free” can express their points as well. And of course, they are free to not watch sports. 

I have noticed, though, that those who declare that they will not watch sports in which a minority of players, for example, kneel during the National Anthem often seem to just be whining about individuals expressing views they don’t like. Many of these same people, after all, are simply delighted when a player blesses himself or points skyward as a thank you to the Lord. Are they outraged by all expressions of views or simply the ones with which they disagree?

Then there’s the occasional piece written that serves up some strange arguments amidst this controversy. Consider a column written by Victor David Hanson running at National Review. The author of The Case for Trump doesn’t generally seem too keen on the NFL, but the title of the piece boldly declares “The NFL is on the Brink.” Whoa! The brink of what? 

Before I highlight a few points, I did wonder if the headline overstated the article’s point, given that most columnists don’t have the final say on column titles and I have been victim of poor titles myself. But the title deftly captures Hanson’s prediction that “the NFL is in deep trouble like never before.”

Hanson makes some grandiose claims. For example, he writes, “Kaepernick’s rejection of ‘The Star-Spangled Banner’ eventually spread throughout the NFL.” Not true. Anyone watching games would have seen that a small fraction of players took a knee.

Hanson also writes, “Then game attendance fell. So did television viewership.” While NFL attendance has declined ever so slightly since 2016, it still remains strong, and other factors must be considered, especially the high cost of tickets (which have been rising relentlessly), when examining this recent small decline. As for television ratings, after a one-year dip, ratings have bounced back, and the NFL ranks as a juggernaut in the fast-changing world of television – with even bigger dollars likely to be raked in by the league when current television deals are up at the end of 2021 and 2022.

After some sarcastic ranting about proportional representation, Hanson predicts grave consequences for the NFL if players are allowed to express political views.

Hmmm, maybe. But I have my doubts considering where the nation is today. We’ll see. But my strongest takeaway from this piece was the following: More whining. It didn’t really contribute anything of value to the discussion.

As a conservative, I’m distressed when players take a knee during the National Anthem. I think it reflects an ignorance about what the flag stands for, and about the freedoms guaranteed by the foundational documents and principles of this nation. We are a nation of strong ideals, a love of freedom, and a respect for justice, and at the same time, we fall short and struggle to claw closer to those ideals.

I also tend to favor my sports being relatively politics free in a society in which everything seems to be increasingly politicized – from face masks during a pandemic to baseball games. It’s tiring, and narrows the spaces in society where we are able to come together simply as fellow Americans without regard to political views. A healthy society, again, as conservatives should understand, is not a highly politicized society. Politics and government are necessary evils given the realities of human nature, and should be relegated to the back seat or trunk – available when needed – and certainly shouldn’t be in the driver’s seat.

At the same time, I understand – more so in recent times – the gross shortcomings and bias of law enforcement in parts of this country, and the need for checks and balances to be working in all aspects of government. I once more turn to the founders who, again, understood the need for checks and balances given human nature.

My hopes? I hope to continue speaking in favor of this nation’s founding principles, including freedom and individual responsibility, as I long have. I hope to engage those with whom I disagree in a constructive manner, and in a way that will help to persuade, rather than chase away. I hope to limit my own whining, and remind others to stop whining. And while political expressions that I disagree with served up before or even during sporting events, no doubt, will continue to annoy me, I hope to keep in mind that we live in the greatest nation on earth that allows for such disagreement. 

Finally, I’m going to enjoy the games – after a long sports drought. I hope that Americans from across the religious, philosophical and political spectrums come together to watch some baseball, football, basketball or hockey. Indeed, we just might gain a better understanding of and respect for each other – and be able to persuade and learn – over a brew and ballgame.

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Ray Keating is a columnist, economist, podcaster and entrepreneur. You can order his new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

Keating also is a novelist. His latest novel is  The Traitor: A Pastor Stephen Grant Novel, which is the 12th  book in the series. In addition, Heroes and Villains: A Pastor Stephen Grant Short Story is the Pastor Stephen Grant Book of the Month for July. The Kindle price has been cut to $2.99. Big sale on signed books and sets at https://raykeatingonline.com/t/book-of-the-month.

Also, tune in to Ray Keating’s podcasts – the PRESS CLUB C Podcast and the Free Enterprise in Three Minutes Podcast  

Thursday, July 16, 2020

Tune In for Some Great Interviews on the PRESS CLUB C Podcast!


Check out each of the following...

PRESS CLUB C Podcast with Ray Keating – Episode #21: Faith and Reason Work Together, Not at Odds – Ray interviews Dr. Samuel Gregg, author of Reason, Faith, and the Struggle for Western Civilization and research director at the Acton Institute.

PRESS CLUB C Podcast with Ray Keating – Episode #19: Teaching Markets and Morality to the Left, the Right and the Clergy – Ray Keating interviews Father Robert Sirico, co-founder of the Acton Institute, and a leading voice for traditional morality, Christianity, and free markets. http://www.buzzsprout.com/147907/4361414-episode-19-teaching-markets-and-morality-to-the-left-the-right-and-the-clergy

PRESS CLUB C Podcast with Ray Keating – Episode #17: Pete Boettke Gets Us Jazzed (Again!) about Economics – If you think economics is boring or uninteresting, then you really need to listen to economist Peter Boettke in this fascinating conversation with Ray Keating.

PRESS CLUB C Podcast with Ray Keating – Episode #13: A Conversation About the History Channel’s “Grant” Documentary – Al Hintz, amateur Civil War historian extraordinaire and all-around history buff, joins Ray to discuss the History Channel’s “Grant” documentary, and other aspects of and views on the life and times of Ulysses S. Grant.

PRESS CLUB C Podcast with Ray Keating – Episode #12: Gaining Insights on Becoming an Entrepreneur from Chris Ullman – If you’re thinking about diving into the entrepreneurial waters, you need to listen to the conversation Ray has with Chris Ullman, who offers great insights on a wide array of topics central to becoming and working as an entrepreneur. https://www.buzzsprout.com/147907/4012805-episode-12-gaining-insights-on-becoming-an-entrepreneur-from-chris-ullman

PRESS CLUB C Podcast with Ray Keating – Episode #8: Joy, Seriousness and Fun with Christianity and Pastor Bryan Wolfmueller – Make no mistake, the deep thinking in this episode is being done by Pastor Bryan Wolfmueller, while Ray is kind of along for the ride and enjoying every second. Pastor Wolfmueller talks about Christianity (especially Lutheranism), the use of the Internet as a tool for the Church, Christian joy, martyrdom, American Christianity, his books and YouTube channel, and more! 

PRESS CLUB C Podcast with Ray Keating – Episode #7: Interview with Lou Mongello - Expert on Entrepreneurship and Disney – Need some positive stuff right now? Ray did, so he turned to Lou Mongello for an interview about entrepreneurship, opportunity and more, including Disney! 

PRESS CLUB C Podcast with Ray Keating – Episode #6: Interview with Actor, Author and Disney Expert Chris Lucas on Disney and More! – Ray Keating has the good fortune to interview Chris Lucas, and they talk about several interesting topics, including The Walt Disney Company, Chris’s one-man Walt Disney show, and his book Top Disney: 100 Top Ten Lists of the Best of Disney, From the Man to the Mouse and Beyond, and more! 

PRESS CLUB C Podcast with Ray Keating – Episode #5: Interview with Thom Brennaman – TV Play-by-Play for the Cincinnati Reds & FOX NFL – Ray Keating once again upgrades the podcast with a great guest. Thom Brennaman, Cincinnati Reds play-by-play TV announcer and play-by-play announcer for the NFL on FOX, is that special guest. 

PRESS CLUB C Podcast with Ray Keating – Episode #3: Interviewing Pastor Tyrel Bramwell, the Host of “Alone Together” – Ray interviews Pastor Tyrel Bramwell, who, in addition to being a parish pastor and author, hosts a fascinating daily video program called “Alone Together: A 15-Minute Isolation Conversation,” in which he interviews pastors across the nation. 

Sunday, July 5, 2020

If the Presidential Election Were Held Today: The Numbers in Early July

by Ray Keating
The Keating Files – July 5, 2020

If the 2020 presidential election were held today, who would be the favorite to win?

Well, first, let’s look at the presidential election map from 2016. A few points jump out. 


First, contrary to many claims, the national polls in 2016 basically had the race right. Hillary Clinton won the popular vote over Donald Trump by 48.0 percent to 45.9 percent. Polling problems came in the few key states that swung the race for Trump via the Electoral College, that is, Pennsylvania (20 Electoral College votes), Michigan (16 Electoral College votes) and Wisconsin (10 Electoral College votes). Needing 270 electoral votes to win, Trump took the Electoral College 306-232 (though the final tally of actual votes was 304-227).

Second, everything narrowly broke Trump’s way to win the White House. He took Pennsylvania 48.2 percent to 47.5 percent; Michigan 47.3 percent to 47.0 percent; and Wisconsin 47.2 percent to 46.5 percent. For good measure, Trump won Florida by only 48.6 percent to 47.4 percent. To say that was the narrowest of wins is to understate.

Third, the big factor in the 2016 race was that the primary purpose among voters was to vote against someone – against Trump or against Clinton. As it turned out, Hillary Clinton ranked as a breathtakingly unpopular candidate.

Almost four years later, we need to, of course, note the standard disclaimers. Namely, over the coming four months until Election Day, anything can happen. In addition, the latest polls only estimate what the vote would look like if the election were held today.

So, what if the election were, in fact, held today? The polls point to Democrat Joe Biden trouncing President Trump.

National. The recent national polls, over the past week, put Biden up by eight to 12 points. For good measure, the highest percent garnered by Trump was only 41 percent in these polls. 

Pennsylvania (20 electoral votes). The latest polling puts Biden up by five to 10 points.

Michigan (16 electoral votes). The polling in Michigan ranges widely, with Biden up by anywhere from one point to 13 points.

Wisconsin (10 electoral votes).Again, recent polling ranges from one poll showing Trump being up by one point to all of the other polls pointing to Biden being up by eight to 11 points.

Florida (29 electoral votes).Trump won Florida by 48.6 percent to 47.4 percent in 2016. The latest polls put the Biden-Trump race anywhere from a tie to Biden being up by 9 points.

Iowa (6 electoral votes). Trump won Iowa 51.1 percent to 41.7 percent in 2016. The latest poll for this year’s race put Biden and Trump in a dead heat, with Trump up by one point.

Ohio (18 electoral votes). The last person who won the White House but lost Ohio was John F. Kennedy in 1960. Trump took Ohio 51.3 percent to 43.2 percent. The most recent polls this year are, in effect, a dead heat, with Biden up by 1-2 points.

Arizona (11 electoral votes). Trump won 48.1 percent to 44.6 percent. Among the latest polls, one pointed to Trump being up by four points, while the other two had Biden up by seven points.

Georgia (16 electoral votes). Trump took Georgia by a margin of 50.4 versus 45.3 percent in 2016. The latest poll shows Biden up by two points, that is, a dead heat.

Texas (38 electoral votes). In 2016, Trump won Texas by 52.2 percent to 43.2 percent. Amazingly, Texas ranks as a dead heat this year, according to the latest polls. One poll has Trump up by four points, while another points to Biden up by a point.

North Carolina (15 electoral votes). Trump took the state by 49.8 percent to 46.2 percent four years ago. The latest polls have Biden up by anywhere from one point to seven points.

Looking at these 10 states, a conservativeassessment indicates that Joe Biden could win, perhaps with 333 votes in the Electoral College, or running as high as 357. Of course, the election is not being held today. But the numbers make clear the mighty task facing Donald Trump to gain a second term.

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See recent...






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Ray Keating is a columnist, economist, podcaster and entrepreneur. You can order his new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

Keating also is a novelist. His latest novel is  The Traitor: A Pastor Stephen Grant Novel, which is the 12th  book in the series. In addition,Heroes and Villains: A Pastor Stephen Grant Short Story is the Pastor Stephen Grant Book of the Month for July. The Kindle price has been cut to $2.99. Big sale on signed books and sets at https://raykeatingonline.com/t/book-of-the-month.

Also, tune in to Ray Keating’s podcasts – the PRESS CLUB C Podcast and the Free Enterprise in Three Minutes Podcast