Thursday, March 10, 2011

Thursday items: Kudlow on the market dip; Norquist opposes a deficit grand bargain; Utah's Senate passes the gold-as-legal-tender bill.

At NRO, Larry Kudlow examines the factors behind today’s market dip.

From The Washington Post, Ezra Klein interviews conservative activist Grover Norquist on his efforts to prevent a grand bargain on the deficit that would include tax increases. (H/t: Future of Capitalism.)

On CNBC, Dan Mitchell debates inflation debate in the U.S. and Europe:

At Forbes, Jerry Bowyer suggests it is troubling that more U.S. production occurs overseas.

The Salt Lake Tribune reports the Utah Senate has passed the bill making gold legal tender bill in the state. (H/t: Rich Danker).

On The American Interest, Walter Russell Mead challenges Paul Krugman’s solutions to labor market uncertainty.

We have our naysayers and prophets of doom in the US, and many of our intellectuals are so caught up in and so well paid by the blue social model that they literally cannot conceive that the radical changes shaking their world should be embraced rather than resisted. But one of the great secrets of America’s historical success is that the voices of nostalgia are weaker here than in other places.

Krugman and many of his colleagues at the Times are, I think, blinded by how good things once were. This is understandable; I felt that way for many years myself and it was only slowly and painfully that I gave up on the blue social model that once looked so good. But the country and the times we live in demand more than angry and ultimately despairing nostalgia from our thinkers and opinion leaders. Let us hope that it comes.
From Project Syndicate, Barry Eichengreen notes that China’s growth may be slowing.

Former FDIC Chairman William Isaac ties the high price of farmland to the undervalued dollar. (H/t: Vlad Signorelli.)

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