Monday summary: Benko on congressional sound money legislation; Tamny on GDP; Wenzel on the Fed's tight money error of summer 2008.

From Forbes, Ralph Benko reports congressional sound money legislation.

At RCM, Louis Woodhill explains the terrible employment data.

In Forbes, John Tamny analyzes the problem of reliance on GDP.

On The Kudlow Report, Benn Steil discusses the eurozone crisis:



At The WSJ, James Bovard highlights efforts to create a happiness index to replace weak GDP statistics.

From PJ Media, David Goldman explains declining labor force participation.

On RCM, Keynesian Paul Samuelson sides with Ben Bernanke over Paul Krugman on inflation.

At RCM, Bill Frezza notes the negative economic consequences of restrictive immigration policy.

The Mises Institute features Robert Wenzel’s NY Fed speech, in which he cites his warning of the dramatic monetary tightening of summer 2008:

After growing at near double digit rates for months, money growth has slowed dramatically. Annualized money growth over the last 3 months is only 5.2 percent. Over the last two months, there has been zero growth in the M2NSA money measure.

This is something that must be watched carefully. If such a dramatic slowdown continues, a severe recession is inevitable.

We have never seen such a dramatic change in money supply growth from a double digit climb to 5 percent growth. Does Bernanke have any clue as to what the hell he is doing?

The WSJ suggests the new French president follow German chancellor Gerhard Schroder’s example.

At The NYT, Paul Krugman advocates breaking up the euro.

In The WSJ, Jon Huntsman notes the Chinese government’s profound economic insecurity.