Tuesday summary: Benko on Krugman; Tamny on devaluation as default; Kadlec rebuts Blinder.

From Forbes, Ralph Benko notes Paul Krugman’s horror at rising support for gold-linked money.

On RCM, John Tamny explains that the dollar’s devaluation amounts to a defacto default on US debt.

At Forbes, Charles Kadlec challenges Keynesian Alan Blinder’s contention that spending cuts hurt the economy.

On The Kudlow Report, James Pethokoukis discusses the debt debate:




The WSJ reports Senate Democrats’ plan to pile additional tax increases onto the President’s tax proposal.

On NRO, Larry Kudlow argues the public wants deep spending cuts this year.

The American Principles Project runs Jeff Bell’s report on Utah’s Legal Tender Act.

In a Newsweek profile, Sarah Palin discusses her monetary views (h/t: WSJ):

Palin has also become conversant on the subject of quantitative easing, the inflationary effects of which she illustrated with a personal anecdote. “I was ticked off at Todd yesterday,” she said. “He walks into a gas station as we’re driving over from Minnesota. He buys a Slim Jim—we’re always eating that jerky stuff—for $2.69. I said, ‘Todd, those used to be 99 cents, just recently!’ And he says, ‘Man, the dollar’s worth nothing anymore.' A jug of milk and a loaf of bread and a dozen eggs—every time I walk into that grocery store, a couple of pennies more...”

From Asia Times, David Goldman doubts the economy is on the verge of crisis.

The Washington Post reports Democrats are worried about supporting cuts to Medicare.

At The Atlantic, Megan McArdle praises George Soros for knocking the British pound out of the European monetary union in the early 1990s.