From Globe Asia, Steve Hanke makes the important point
that despite generally loose government monetary policy, private sector
monetary creation is tight (and accounts for 85% of total money supply),
perhaps explaining how commodity inflation can coexist with deflationary
headwinds.
At The Financial Post, Terry Corcoran cites Hanke’s
analysis to critique the series of non-productive international summits.
NPR's Marketplace quotes Hanke in assessing Ben Bernanke’s policies.
On Fox News, Steve Forbes calls the idea of raising taxes
in the current climate preposterous:
At Forbes, Louis Woodhill cites Jude Wanniski’s political
model explain the Greek election’s outcome.
From earlier this month in The WSJ, James Grant reviews two books
defending capitalism but notes their lack of focus on the need for monetary
reform.
The WSJpans Bernanke’s extension of Operation Twist.
From First Trust, Brian Wesbury highlights the Fed’s
non-committal policy.
In The WSJ, Dan Henninger contrasts the presidential
candidates economic messages.
On AEI, James Pethokoukis reports Michael Darda’s view on
NGDP targeting.
In The WSJ, Matthew Slaughter argues the Employ American
Workers Act has weakened the economy.
At PJ Media, David Goldman analyzes Saudi Arabia’s role
in propping up Egypt’s military against the Muslim Brotherhood.
From The Financial Post (Canada), supply-side guru Robert Mundell sees a
bright future for the euro, but blames excessive spending and unstable exchange
rates for the Eurozone’s current troubles.
Also on The Financial Post, Terry Corcoran supports
Mundell’s analysis.
At Forbes, Nathan Lewis suggests a dual currency system
featuring gold for nations outside the major currency zones.
On The Kudlow Report, David Malpass discusses the
markets:
At The American, James Pethokoukis responds to Paul
Krugman’s claims that government spending led to the Reagan boom.
The WSJhighlights the President’s disastrous press
conference remarks on the economy.
At China Daily, Mundell applauds the People’s Bank of China
for lowering interest rates.
On CNBC, James Grant notes the Fed’s shrinking balance
sheet.
The WSJcriticizes Ben Bernanke for opposing spending
cuts, but applauds his rejection of tax increases.
From Forbes, Peter Ferrara compares the Obama economy to Argentina.
In The WSJ, Stephen Moore reports Democratic nervousness
about Taxmageddon.
At Newsmax, Steve Forbes advocates tax cuts rather than bailouts to revive Europe.
IBDnotes the President of Estonia’s response to Paul Krugman’s dismissal of its economic success.
From The Sun News Network, David Goldman doesn’t see a
way to keep the weak nations in the Eurozone:
On Fiscal Times, Bruce Bartlett notes the decline and
fall of organized labor.
From Market Watch, Harold Gold uses the Bush tax cuts to
declare supply-side economics false.
From the archive, here’s my assessment of the Bush tax
cuts.
On TGSN, Jon Decker reports the past use of vodka as a currency in Russia.
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 WSJsuggests 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.
At Forbes, Brian Domitrovic explains the dollar’s gyrations damaging impact on the euro.
From Bloomberg, Obama economist Peter Orzag notes that the mortgage crisis destroyed the same amount of wealth as the dot-com bust and wonders why its result was so much more severe. Left out of his analysis is the Great Dollar Appreciation of 2008, which was a separate, economy-killing event from the initial mortgage bust.
At Streit Talk, Steve Hanke diagnoses the Eurozone’s travails, including Greece’s sharp deflationary environment.
On The Kudlow Report, Art Laffer debates the weak economy:
The NY Sunapplauds US Rep. Ron Paul’s recent TV debate with Paul Krugman as Hayek vs. Keynes. From Paper Money Collapse, Austrian economist Detlev Schlichter advises on how to debate Krugman (h/t: TGSN). At Fiscal Times, Liz Peek castigates Krugman for his pro-inflation bullying of Ben Bernanke. On Econlog, David Henderson defends Romney supporter Edward Conrad’s pro-wealth views from Krugman. In The Economist, Will Wilkinson critiques Stephen King’s call for tax increases. From First Trust, Brian Wesbury notes the economy’s slowing but remains optimistic. The NYTreports China’s vanishing current account surplus, but notes continued US pressure to revalue the yuan. On NRO, Kevin Hassett explains the negative impact on growth of policy uncertainty. From The WSJ, Dan Henninger notes the Obama Administration’s attempts to court young voters with handouts rather than growth and jobs:
At Econtalk, John Taylor discusses his new book, First Principles: Five Keys to Restoring America's Prosperity. TGSN recounts the Free Silver Movement’s history.
At City Journal, Brian Domitrovic critiques Noam Scheiber’s claim that recent Keynesian spending stimuli failed because they were too small.
From Alhambra Partners, John Chapman responds to calls for a third round of quantitative easing from the Fed. At Forbes, Tim Worstall suggests the eurozone cannot work without fiscal transfers between rich and poor states. Bloomberg reports Ben Bernanke’s public rejection of Paul Krugman’s call for higher inflation. Neither mentions the impact of the dollar’s seesawing exchange rate on inflation/deflation pressures.
The WSJnotes the recovery’s slow pace. At The American, James Pethokoukis rebuts Paul Krugman’s attack on fiscal austerity. From Forbes, Jerry Bowyer argues the US is declining, but not as fast as doomsayers like Glenn Beck imagine. At The American, Joel Kotkin, Mark Schill and Ryan Streeter highlight positive economic trends in the Midwest. In Forbes, Peter Ferrara designates Wisconsin’s public employee unions an aristocracy. On The Kudlow Report, a panel discusses the weaker-than-expected GDP numbers:
At Philanthropy Daily, Scott Walter notes the downside of religions partnering with governments. From Fiscal Times, Bruce Bartlett critiques the President’s scapegoating of oil speculators.
From Forbes, Charles Kadlec highlights Obama economist Christina Romer’s scholarly writing on the negative impact of tax increases.
The WSJnotes a rising threat to Europe’s borderless trade policy.
In Forbes, Ralph Benko profiles Art Laffer and Stephen Moore’s Rich States, Poor States.
At The WSJ, Paul Gigot and Dan Henninger discuss the Netherland’s proposed tax increases and declining growth:
At RCM, John Tamny explains that economic fairness makes everyone poorer. From Alhambra Partners, Joe Calhoun remains moderately bearish on the world economy.
At Forbes, Grove City Prof. Mark Hendrickson highlights the Obama Administration’s interest in a global corporate tax (h/t: Future of Capitalism).
In Barrons, Stanford's John Taylor critiques Keynesian tax stimulus and advocates rules-based monetary policy. At TGSN, Ralph Benko argues gold offers the best rule for monetary stability. In The WSJ, Stephen Moore reports Republicans may not win retiring Sen. Kent Conrad’s (ND) seat. On The Kudlow Report, Tamar Jacoby debates Arizona’s immigration policy:
In The NYT Magazine, Paul Krugman urges Fed Chairman Bernanke to increase inflation. At The WSJ, Peter Diamond and Emmanuel Saez argue higher top tax rates will generate more federal revenue and not harm growth. USA Todaydredges up hoary misconceptions about the gold standard.
From The WSJ, Art Laffer and Stephen Moore argue states without income taxes are economically healthier.
At Forbes, Steve Forbes urges Mitt Romney to defend free markets vigorously. In The WSJ, Mark Spitznagel explains how the Fed enriches the top 1%. On The Kudlow Report, David Malpass analyzes the slow recovery:
At Forbes, Peter Ferrara analyzes progressive economic fallacies. In The WSJ, Stephen Moore reports a Florida Tea Party dust up. From The Manhattan Institute, Diana Furchtgott-Roth explains that raising investment taxes will result in less investment and push capital overseas. At NRO, Larry Kudlow highlights the slow 2.5% growth rate. The NY Sunapplauds the Shadow Open Market Committee. At The Mises Institute, Frank Shostak doubts that Ben Bernanke saved the economy from another depression. From The Peterson Institute, C. Fred Bergsten argues for a lower dollar, tax increases (though not on businesses or incomes), and trade barriers on China unless it raises the yuan. Around 1:06, he suggests President Nixon’s 1971 import surcharge to “rebalance” world exchange rates was a success:
The Examinerreports US Rep. Eric Cantor (VA) citing supply-side economics in support of his small business tax cut bill. At The American, Steve Hayward doubts the instability of the oil-to-gold ratio.
From The Spectator (UK), Fraser Nelson highlights Sweden’s tax cutting success.
On Forbes, Charles Kadlec reviews Art Laffer’s new book on state tax competitiveness. In The WSJ, Mary Anastasia O’Grady explains how Ben Bernanke’s low dollar is damaging Brazilian exporters and creating political pressures for its government. At The WSJ, O’Grady discusses the Fed’s fear of incipient inflation:
At Forbes, Ralph Benko suggests obedience to authority helps explain Washington’s aversion to the gold standard. The WSJreports China widening the yuan’s trading range. From TWS, Bill Kristol rebuts the suggestion that President Reagan favored tax hikes on the rich. At Forbes, Brian Wesbury argues spending cuts are required to save America from a VAT. On The Kudlow Report, Larry debates the Buffett Tax vote with Jared Bernstein:
At Forbes, John Tamny critiques lotteries for funding larger government. In The NYT, Greg Mankiw suggests competition is good for governments too.
The WSJhighlights the positive revenue effects of cutting the capital gains tax.
In The WSJ, Amity Shlaes cites FDR and Coolidge to argue tax policy should focus on competition not fairness.
On The Kudlow Report, Larry opposes raising tax rates:
On RCM, financier Eric Fine argues Ben Bernanke reduces confidence in the dollar by dismissing the gold standard. From Alhambra Partners, Joseph Calhoun fears economic weakness will spur QE3. In The Washington Times, Richard Rahn complains about the byzantine tax code. From ISI, George Gilder debates technology and the prospects for growth:
In The NYT, Bruce Bartlett suggests eliminating income taxes for the lower 75% of earners and replacing the revenue with a 12.5% VAT.
At Forbes, Ralph Benko notes liberal opposition to US Rep. Kevin Brady’s Sound Dollar Act.
The editors of e21 analyze the tax contribution of the top 1% of earners.
At Forbes, David Malpass proposes a stronger dollar and tax reform to rev up growth. On The Kudlow Report, Malpass discusses the unemployment report and the Fed:
From NRO, Larry Kudlow shrugs at the weak employment report.
At RCM, Louis Woodhill highlights the recent poor employment report.
On NRO, Kudlow links Ben Bernanke’s backing off QE3 to declining commodities.
In The Telegraph, Ambrose Evans Pritchard examines gold’s recent decline.
From Project Syndicate, Daniel Gros compares dollar and euro easing.
In The WSJ, Kevin Warsh argues households deserve credit for the improving economy.
Also in The WSJ, Stephen Moore highlights Gov. Bill Haslam of Tennessee.
On The Kudlow Report, Dan Mitchell debates the Bush tax cuts’ expiration:
In The NYT, Benn Steil remembers the spy scandal that gave the US leadership of the World Bank rather than the IMF.
The CSMreports illegal immigration drying up in response to the weak economy.
From Forbes, Brian Domitrovic applauds Ben Bernanke for repudiating the Phillips Curve.
In Forbes, Charles Kadlec highlights the systemic risk created by the unstable dollar.
On The Kudlow Report, Larry Kudlow debates the dollar:
The NY Sunapplauds James Grant’s recent speech at the NY Fed. At Forbes, Ralph Benko wonders why politicians don’t learn from President Reagan. On International Liberty, Dan Mitchell speculates whether the President believes Bill Clinton was a social Darwinist. From Alhambra Partners, Joe Calhoun sees economic weakness ahead. At The WSJ, Ed Lazear notes the recovery’s unusually slow pace. From The Atlas Sound Money Project, George Selgin recounts the Federal Reserve’s history:
In The NYT, Bruce Bartlett analyzes budget gimmicks.
From TGSN, Lew Lehrman explains the debt consequences of the paper dollar standard.
Zerohedge features James Grant’s excellent speech to the NY Fed.
At PJMedia, David Goldman defends Mitt Romney’s focus on economic generalities.
On CNBC, Larry Kudlow rolls out his 10 Commandments for Growth:
At Forbes, Nathan Lewis argues the Great Depression was not caused by the gold standard.
On Seeking Alpha, Paul Nathan responds to Ben Bernanke on the gold standard.
In The WSJ, James Grant reviews "White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You."
At The American, James Pethokoukis interviews Mitt Romney.
In The WSJ, George Melloan worries about federal lending.
At COAL, Paul Krugman rebuts inflation claims, but overlooks the three-peak correlation between the personal consumption expenditures deflator and the euro/dollar exchange rate:
From The WSJ, Mary Anastasia O’Grady reports on Argentina’s political takeover of its national bank.
On Forbes, John Tamny opposes the Cato Institute’s takeover by the Koch brothers.
At RCM, Louis Woodhill critiques Ben Bernanke’s anti-gold speech, citing Barry Eichengreen’s Golden Fetters to argue for a gold-price rule rather than a full gold standard.
In Forbes, Brian Domitrovic rebuts Bernanke and disputes Eichengreen’s analysis.
The EPPC features an excellent FT article on global currency by Martin Wolf and a John Mueller response advocating the gold standard.
From Asia Times, Martin Hutchinson uses the Laffer Curve to assess optimum tax rates.
On The Kudlow Report, US Rep. Paul Ryan (WI) argues Obamacare will push employers out of offering health insurance and bankrupt the government:
In The NY Sun, Ira Stoll critiques US Rep. Paul Ryan’s (WI) budget plan.
At Calafia Beach Pundit, Scott Grannis suggests Ben Bernanke’s monetary policy is too cautious.
Bloomberg features a history of the dollar, gold and debt. (And here.)
In The NYT, Bruce Bartlett acknowledges that the British experiment with 50% top tax rates has failed.
