Tuesday, October 28, 2014

Tuesday Update: Steve Lonegan explains how the gold standard ensures the dollar has more buying power; Dr. Judy Shelton cautions Madame Yellen on grandiosity; John Tamny urges us to ignore the latest deflation scare; Ralph Benko asks if Janet Yellen is the New Magoo following her Perspectives on inequality speech


Politics and Government

In the NY Sun, Larry Kudlow says the President’s head will spin in a flurry of legislation if the GOP takes the Senate.

Monetary Reform

At NJ.com, Steve Lonegan explains how the gold standard insures the dollar has more buying power, debunks former Governor Jim Florio’s caricature of the gold standard.

In the NY Sun, Steve Forbes writes great countries don’t have weak currencies.

At Forbes.com, John Tamny urges us to ignore the latest deflation scare.

In The Hill, Dr. Judy Shelton cautions Madame Yellen on grandiosity.

From Forbes.com, Ralph Benko asks if Janet Yellen is the New Magoo following her Perspectives on inequality speech; also on Forbes.com, Ralph Benko covers Harry Reid and the Democrat’s strategy to keep the majority.

In Forbes.com, Nathan Lewis explains what's behind the collapsing ruble.

Steve Hanke, tells Interfax the country will continue to run down its foreign reserves – the cash it uses for LNG imports.

The NY Sun debunks the NY Times claim that QE revived the economy.   

The Washington Post discusses why Europe is doomed.

The German central bank is a lost cause that's compared Draghi to the devil—yes, really—for being open to printing money

From Forbes.com, Norbert Michel suggests we discredit the devaluation of currencies once and for all; also on Forbes.com, Norbert Michel details how the Fed was too tight in 2008.

At TGSN, Ralph Benko presents part 3 and part 4 of his interview with Professor Lawrence White.

Tax

At Forbes.com, Brian Domitrovic writes politicians were talking about the Laffer curve in 1963.

The Middle Class Squeeze

Rising demand of meat and corn combined with bad weather cause food prices to reach record highs for restaurants.

Rising electricity prices cause communities in the NE to reignite debate over the construction of a natural gas pipeline in the area.

Sunday, October 19, 2014

Weekend Wrap Up: John Tamny writes David Gordon took aim at Steve Forbes, but hit Ludwig von Mises; former NJ governor Jim Florio compares the gold standard to zombies and vampires

Politics and Government

From MarketWatch, Joseph Adinolfi discusses why the U.S. economy is vulnerable to global woes.

Monetary Reform

From Forbes.com, John Tamny writes David Gordon took aim at Steve Forbes, but hit Ludwig von Mises.

In NJ.com former NJ governor Jim Florio compares the gold standard to zombies and vampires.

In the New Yorker, John Cassidy details Janet Yellen’s remarks on rising inequality, rising asset prices.

During the Great Recession, income fell more steeply at the top, largely as a result of the decline in the stock market. That caused inequality to “narrow slightly,” she said, but it “resumed widening in the recovery, and by 2013 it had nearly returned to the pre-recession peak.”

That’s an important finding, because some other studies suggest that, by some measures, income inequality has levelled off during the past decade.

Turning to wealth, which includes financial assets, real estate, and durable goods, such as cars, Yellen noted that the pattern was the same—except the increase in inequality had been even more stark.


In the WSJ, David Malpass writes creating economic growth isn’t the Fed’s forte.

Regulatory Reform


In the NY Sun, Larry Kudlow says the GOP may get the chance to dare the President to veto the keystone pipeline.

Thursday, October 16, 2014

Thursday News: Steve Forbes writes the virus of bad money is undermining growth; Ralph Benko praises Peter Thiel’s new book “Zero to One,” echos Theil’s observation of a “power law” that rules the world.

Politics and Government

At Forbes.com, Steve Forbes writes the virus of bad money is undermining growth; Steve Forbes says more malpractice from the Fed will hurt the economy.. 

From Forbes.com, Ralph Benko praises Peter Thiel’s new book “Zero to One,” echos Theil’s observation of a “power law” that rules the world. 

Reuters reports U.S. retail sales, producer prices give cautionary signs on the economy. 

The WSJ covers wild swings in stocks, treasurys, dollars, oil, and gold. 

Monetary Reform

At Coin Telegraph, Diana Ngo says Venezuala’s strict control over their floundering currency has Venezuelans turning to bitcoin. 

At TGSN, Ralph Benko presents part 2 of his interview with Professor Lawrence White. 

Middle Class Squeeze

Middle Class Squeeze is Worldwide.

Friday, October 10, 2014

Friday News: World equities and oil drop on signs of world economic slowdown; Deficit shrinks; Jared Berstein gives more thought to the problems caused by the reserve currency status of the dollar



Markets

World equities and oil drop on signs of world economic slowdown

Fiscal
Federal deficit shrinks to 6-year low.

Monetary

Jared Berstein gives more thought to the problems caused by the reserve currency status of the dollar.  "The enlightened path is not always obvious, and here there is a lot more work to do by all of us in this debate, Pettis, Baker, Ralph Benko, Austin, Martin Wolf, even Bernanke, whose work first got me thinking about all this."

Paul Krugman disagrees as to the significance of the reserve currency status of the dollar.

In the WSJ, Jon Hilsenrath reports Fed minutes show wariness over global growth.

Pew Research reports that, In combination, more people believe that John Roberts, Sonia Sotomayor, or Alan Greenspan is the Fed Chair than know that it's Janet Yellen.  A dominant plurality just don't know. 

From CNBC, Peter Boockvar says the Fed has killed the saver. 

In the WSJ, Paul Vigna believes market faith in central bank omniscience is being tested. 

At Bloomberg, Jeff Kearns and Rebecca Christie report on the Federal Reserve’s interest rate timetable. 

The Middle Class Squeeze

Tuesday, October 7, 2014

Tuesday Update: Brian Domitrovic writes Greenspan lets his hair down, talks up gold; Ben Steil calls the Brics bank "Chicken Feed"; Ralph Benko writes the fortunes of the GOP and America may hang on the outcome of the Ways and Means Chairmanship, praises Congressman Kevin Brady for addressing the growth gap

Politics and Government

Reuters reports the IMF cut the global growth forecast.

On NBC News, Larry Kudlow debates Barney Frank on the state of the economy.

The New Yorker publishes an extensive profile of Lawrence Lessig’s campaign for popular financing of Congressional elections.

Monetary Reform

From Forbes.com, Brian Domitrovic writes Greenspan lets his hair down, talks up gold. 

CFR's Ben Steil calls the Brics bank "Chicken Feed:" "off to a poor start. ... all the start-up funding for the Brics bank will be in greenbacks, creating new demand for dollar assets."

At AEIdeas James Pethokoukis responds to Ralph Benko’s negative assessment of his blog associating the gold standard with the Nazis and with a later blog attacking the gold standard and explains further why he believes that “the gold standard is fool’s gold for Republicans.”

At Forbes.com, Ralph Benko writes the fortunes of the GOP and America may hang on the outcome of the Ways and Means Chairmanship race, praises Congressman Kevin Brady for addressing the growth gap. 

Michael Pettis picks up on Austin, Bernstein and Benko's critique of the reserve currency status of the dollar.

Pravda.ru reprises Ralph Benko’s “rise and Fall of King Dollar, Part 1” from Forbes.com

In the WSJ, Josh Dawsey and Ben Leubsdorf cover Jeff Bell’s campaign against Cory Booker and the Fed.

In the WSJ, Jon Hilsenrath writes the pressure to devalue builds on global currencies. 

From TGSN, Ralph Benko presents part 1 of his interview with Professor Larry White. 

At Marketwatch, Greg Robb says the split between the hawks and doves is getting more evident in Fed minutes.

The Middle Class Squeeze

In the Washington Post, Catherine Rampbell explains why you haven’t gotten a raise.

Congress to investigate rising drug prices.
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Monday, October 6, 2014

Friday Highlights: Alan Greenspan in Foreign Affairs, controverts Keynes's characterization of gold as a "barbarous relic." John Tamny writes the departure of Bill Gross from Pimco unmasks the Fed as a credit destroyer; William Kristol says Bell-Booker is really a five point race

Monetary Reform

Alan Greenspan in Foreign Affairs, controverts Keynes's characterization of gold as a "barbarous relic." 

AEI's blog, AEIdeas, posts, circulates to its subscribers, and then without explanation deletes, within minutes, a blog by Mark J. Perry entitled Stagnant real wages?  It just ain't so...


From Forbes.com, John Tamny writes the departure of Bill Gross from Pimco unmasks the Fed as a credit destroyer.

In the Weekly Standard, William Kristol says Bell-Booker is really a five point race; At the Daily Caller, David Wagner details Jeff Bell’s case for the middle class.

The Daily Beast gives the sane case to audit the Fed.

From Forbes.com, Nathan Lewis writes dozens of countries have already kicked the fiat currency habit.

At TGSN, Ralph Benko presents part 3 of his interview with Steve Lonegan.

Tax

In The Hill, Grover Norquist defends Brownback’s tax cuts

Wednesday, October 1, 2014

Tuesday News: John Tamny weighs in on the new Federal Reserve report showing U.S. household wealth of 80+ trillion; Steve Lonegan says the Fed makes the rich richer and the poor poorer; Ralph Benko presents the rise and fall of king dollar, takes AEI’s James Pethokoukis to task; Brian Domitrovic on why Reagan’s economic track record is vastly stronger than Obama’s

Monetary Reform

At Forbes.com, John Tamny weighs in on the new Federal Reserve report showing U.S. household wealth of 80+ trillion.

In Breitbart, Steve Lonegan says the Fed makes the rich richer and the poor poorer.

From Forbes.com, Ralph Benko details the rise and fall of King Dollar Part 1, and Part 2. Also on Forbes.com, Ralph Benko takes AEI's James Pethokoukis to task for his Hitler innuendo and snarky comments about the gold standard

Brian Domitrovic in Forbes.com on why the Reagan economic track record is vastly stronger than Obama's. 

Campaign for Liberty exposes DC as the true home of the 1 percent.

At Forbes.com, Norbert Michel presents the pseudoscience of inflation part 2.

Globe Asia shows uncertainty weighs on economic growth.