Tuesday round up: Ranson argues gold has downgraded the dollar; Forbes and Reynolds critique S&P; Woodhill explains why tax increases don't work.

From Forbes, David Ranson argues gold, which closed above $1,750 today, confirms S&P’s downgrade.

On BBC, Steve Forbes calls the S&P downgrade a travesty.

From The Cato Institute, Alan Reynolds critiques S&P’s budget analysis.

At NRO, Larry Kudlow suggests Fed Chairman Ben Bernanke’s rate statement is QE3-lite and sparked today’s market rally, but notes dissension among Fed governors.

On The Kudlow Report, Wayne Angell notes the market turned down immediately after Bernanke’s statement:




The WSJ links the President’s call for higher taxes and more demand-side stimulus to the Dow’s recent fall.

From RCM, Louis Woodhill explains that taxing the rich doesn’t work.

At Alhambra Investments, Joe Calhoun says markets and politicians need to excise the idea that the Fed can rescue the economy and call for a stable gold price.

From yesterday on his blog, Scott Grannis argues the market may have reached bottom.

On Squawk Box, Steve Forbes blames the economy’s malaise on the weak dollar:




At TNR, Jonathan Chait reports Republican opposition to extending the payroll tax cut.

Also from TNR, James Galbraith argues there is no long-term deficit problem.

On Nothing But Truth, John Tamny explains how government action retards economic recovery:

Wednesday update: Hanke on the fed funds rate; Ranson on tax rate stability; Woodhill on growth.

From Cato, Steve Hanke makes the crucial point that the near-zero percent federal funds rate has created a credit crunch.

On Forbes, David Ranson argues federal revenues are maximized by moderate and stable tax rates.

At Forbes, Louis Woodhill stresses fast growth to get unemployment down.

On The Kudlow Report, Rep. Ron Paul (TX), Wayne Angell, and others debate Fed Chairman Bernanke’s speech:




Newt Gingrich’s website features today's speech on Federal Reserve reform.

From First Trust, Brian Wesbury sees inflation signs.

At TGSN, Ralph Benko recounts the story of Scottsman John Law’s disastrous experiment with paper money.

In UK’s IB Times, Gabriel Mueller defends the gold standard.

At Bloomberg, Jim Grant offers a terrific critique of the floating dollar system and the Federal Reserve:




In The WSJ, Stephen Moore reports freshman Sen. Marco Rubio (FL) is a top VP contender.

On International Liberty, Dan Mitchell notes that Herbert Hoover was no budget cutter.

From Bloomberg, conservative Keynesian John Taylor highlights Paul Volcker’s policy of floating the fed funds rate while controlling the money supply.

Wednesday round up.

In The Washington Times, Richard Rahn compares Obamanomics to Reaganomics.

From Monday, Larry Kudlow explains the flaws in David Stockman’s NYT attack on tax cuts.

On The Kudlow Report, David Goldman and Wayne Angell analyze Fed policy.

At First Things, Goldman comments further on demographics and deflation.

Brian Wesbury suggests the economy is better than some commentators let on.

Pajamas Media's Roger L. Simon compares this week's op-eds by Treasury's Tim Geithner and Art Laffer.

The Financial Times' Ambrose Evans-Pritchard points out that despite not having Fannie/Freddie, the Community Reinvestment Act, or an "artificially low" Fed Funds Rate, some European nations suffered greater real estate bubbles than the U.S.

Amity Schlaes suggests tax policy should focus on raising revenue, not influencing behavior.