From Forbes, John Tamny explains that policies for energy independence are counterproductive.
On RCM, Louis Woodhill argues Keynesian spending doesn’t stimulate economic growth while supply-side tax cuts do.
In The NYT, Greg Mankiw ponders the economy, inflation and the debt.
At Forbes, Ken Rapoza quotes Bretton Woods Research’s Vlad Signorelli discussing the yuan.
On The Kudlow Report, Stephen Moore applauds House Speaker John Boehner for refusing to raise the debt ceiling without deep spending cuts:
At The Street, Peter Morici argues poor U.S. economic management is driving the world back to gold as money (h/t: Ralph Benko).
The WSJ notes tax receipts have risen substantially.
At The WSJ, Stephen Moore reports on Treasury Secretary Geithner’s measures to keep government paying its bills without a debt ceiling increase.
On Kudlow, James Pethokoukis debates the President’s criticism of CEO pay:
On Lew Rockwell, David Stockman advocates return to the gold standard.
In The Financial Times, John Dizard suggests gold is money but is otherwise useless.
At COAL, Paul Krugman cites Mundell’s Impossible Trinity in arguing for emerging market currencies to appreciate.
Also on COAL, Krugman argues inflation isn’t a problem because wages are flat or falling.
Paul Krugman is trying to associate contemporary wages with contemporary inflation? The classic examples of history indicate no such link. The greatest bout of inflation in modern times was the three straight years of double-dip inflation, 1979-1981, where the total CPI increase came in at 38%. Private sector wage growth was 24% – indeed much less because of bracket creep. So: the canonical inflation of our day bore scant resemblance to wage growth, yet we strenuously insist that such a likeness must exist today.
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