Tuesday, September 21, 2010

Tuesday update.

On RCM, John Tamny suggests gold isn’t expensive, the dollar is cheap.

From The Cato Journal in 1983, Alan Reynolds
asks, Why Gold?

On The Kudlow Report, Larry Kudlow
debates rising gold.

On last week’s Smart Money, Don Luskin
overviews gold's move.

From Alhambra Investments, Joseph Y. Calhoun III
examines the falling dollar’s impact on the economy.

At Business Insider, Dian Chu
explains why raising the yuan would hurt the American and Chinese economies.

editorializes on the sluggish economy.

At Forbes, Brian Wesbury sees good signs on the economy.

In The WSJ, Allen Sinai
reports on a new study on the cost and impact of zeroing out the capital gains tax.

At Forbes, Steve Forbes
predicts the President will yield on tax cuts in the short term.

On Kudlow, Sen. Jon Kyl (AZ)
makes the case for extending the tax cuts.

In The Washington Times, Richard Rahn
analyzes media criticism of the libertarian Koch brothers.


  1. Hi Sean,
    Please check the link on the Reynolds 1983 Cato article...it is linking to Tamny's article.

  2. Tamny suggests that gold isn't expensive, the dollar is cheap. The trouble is with that kind of logic is that if the dollar is cheap then every other currency in the world must be cheap too. Of course that's not true in the sense in which Tamny speaks. The USD has not declined more in respect to other currencies since the climb in the price of gold. At least not to the amount where Tamny could use that claim to make his point. If he lived in Mexico over the last 20 years he may be able to pull it off. Why anyone would try, who knows?

    Then Tamny backs his statement up by telling us that gold is not in demand because of a shortage. Which is obviously true but at the same time what is not true is that the price of gold hasn't risen because of a shortage. Tamny should know that too. Using that factual claim to try to prove another just doesn't work anymore.

    If, instead of worrying about gold, Tamny would spend some time acknowledging that the price of oil and the shortage of a cheap supply of same in the US is what is causing a lot of the economic woes, he would be spending his time more wisely. If, or when the price of a barrel is manipulated up to $150 again maybe a light will come on for a lot of people.

  3. Bob,
    The Reynolds link is fixed.
    Sorry about that.