From Cato, Alan Reynolds responds to Larry Summers’ call
for more government spending.
At Alhambra Partners, Joe Calhoun sees the dollar bouncing
back and forth between inflation and deflation. For the record, here’s my
column of last year on Robert Mundell’s similar view.
On Forbes, Brian Domitrovic critiques the President for
doing nothing that would improve the economy.
The Daily Callerinterviews Steve Forbes on Mitt Romney’s
record at Bain Capital:
At RCM, John Tamny suggests fear of QE3, not bad
unemployment numbers, is responsible for the market’s decline.
From The Atlas Sound Money Project, Devin Roundtree
argues QE3 is already underway.
At Forbes, Charles Kadlec critiques the President’s economic
policies.
In The WSJ, Robert Barro analyzes the economy’s malaise.
From The Washington Times, Richard Rahn covers efforts to
impose global taxes.
In The WSJ, Roger Lowenstein reviews a book on the
depression of 1837.
From Forbes, Brian Domitrovic highlights Herman Cain’s
sound money advocacy. On TGSN, Lew Lehrman advocates a modern gold standard. In The WSJ, Austan Goolsbee argues without flexible exchange
rates to adjust balance of payments, the Eurozone must rely on fiscal transfers
or immigration. At The Daily Beast, Bruce Bartlett applauds President
Reagan’s tax and monetary achievements but argues today’s problems require
different remedies:
In The WSJ, Stephen Moore reports Ted Cruz’s run-off
chances in the Senate GOP primary.
From Alhambra Partners, Joe Calhoun highlights worrisome
market conditions. In The Washington Post, Robert Samuelson wonders why
Greece hasn’t experienced a bank run yet. At National Review, Kevin Williamson doubts that tax
rates drives state to state migration.
From Forbes, Brian Domitrovic advises Europe to learn from its past exchange rate chaos.
At Globe Asia, Steve Hanke argues contracting money growth, not fiscal austerity, is causing today’s economic difficulties.
On The Kudlow Report, Sen. Ron Johnson (WI) discusses bi-partisan tax and budget compromise:
At RCM, John Tamny suggests the dollar should rise to return the gold price to its ten-year average of $800/oz.
From Alhambra Partners, Joe Calhoun supports spending austerity and low tax rates. In The Washington Times, Richard Rahn advocates less government spending.
From Forbes, Brian Domitrovic responds to Barry Eichengreen’s latest anti-gold standard remarks.
At Café Hayek, Don Boudreaux notes the mercantilist roots of an Obama Administration trade policy.
In The WSJ, Stephen Moore reports Kansas’ progress towards a tax cut.
On The Kudlow Report, Benn Steil discusses whether the rising dollar, falling gold and weakening stock market suggest deflation:
At Parcbench, Scott Gillette advocates for a return to the gold standard. From Free Banking, Steve Horowitz rebuts Paul Krugman’s history of Gilded Age banking. In The WSJ, Stephen Moore notes the debate over tax cuts among Oklahoma Republicans.
From First Trust, Brian Wesbury suggests government not banks need a stress test.
From UVA’s Miller Center, Brian Domitrovic responds to Paul Krugman’s defense of the economic recovery.
Zerohedge highlights a James Grant interview on the Fed and the stock market. At NRO, Larry Kudlow argues Mitt Romney needs to widen his lead with the investor class. On The Kudlow Report, US Rep. Jeb Henserling (TX) debates tax policy:
TGSN recounts the history of William Jennings Bryan’s Cross of Gold. In The WSJ, Arthur Brooks suggests that generous social welfare programs demoralize workers.
From First Trust, Brian Wesbury predicts resurgent socialism in Europe will be short-lived.
Zerohedge features David Stockman discussing the Fed, debt and markets.
At Forbes, Jerry Bowyer explains how the economy is supposed to work.
In The Weekly Standard, Jeff Bell argues the President’s embrace of gay marriage will make it harder for him to win key swing states. At The American, James Pethokoukis applauds Arthur Brooks’ new book, The Road to Freedom. From Alhambra Partners, John Chapman analyzes Facebook’s economic impact.
From The WSJ, Alan Reynolds demolishes arguments for 70% tax rates on the rich (full text from Cato).
In The WSJ, Amar Bhide provides an excellent defense of the euro:
But here's the catch. Devaluation works its magic to the extent it doesn't trigger demands for wage hikes, even though a depreciating currency increases the price of imports and reduces the purchasing power of workers' incomes.
Now, individual employees might be susceptible to a money illusion and worry only about their nominal wages. But it isn't the demands of individual workers that make labor markets excessively rigid—it's unions and other such institutionalized players. Unions that won't negotiate pay cuts with employers are unlikely to allow devaluations to erode real wages through the back door. Indeed union contracts often contain protections against inflation....
Worse, devaluations clip the real incomes of those least able to afford the loss—the elderly who depend on their meager savings and pensions, low-wage employees who aren't unionized and lack valuable skills, and small businesses scraping along that don't get even a temporary boost to profit margins because they ply a purely local trade.
At Forbes, Brian Domitrovic explains the folly of investing in GM. In Human Events, John Hayward suggests a shift in the Left’s view of the Laffer Curve. On The Kudlow Report, US Rep. Ron Paul (TX) discusses the dollar and the economy:
At International Liberty, Dan Mitchell argues European austerity hasn’t been as severe as Paul Krugman suggests. The NY Sunrebuts Berkshire Hathaway’s Charles Munger on gold. In The Washington Times, Richard Rahn argues spending in Europe still increased during the recent debt crisis. From Alhambra Partners, Joe Calhoun sees some positive trends in the economy. On Fox Business News, Stephen Moore discusses state tax rates:
In The American Interest, Barry Eichengreen foresees declining use of the dollar in world commerce. From The WSJ, Justin Lahart suggests unemployment would be down to 7.1% without government spending cuts. At The NYT, Bruce Bartlett doubts rich people will relocate from the US if taxes go up.
From Liberty Law, Brian Domitrovic explains the damaging impact of Milton Friedman’s opposition to the gold standard and floating exchange rates.
In The WSJ, Don Luskin highlights the negative incentive effect of 2013’s tax rate increases. On The Kudlow Report, Stephen Moore debates Keynesian economics:
The WSJreports the decline in labor force participation to 1981’s level. At The American, James Pethokoukis suggests the true unemployment rate is 11.1%. IBDexplains that unemployment is substantially higher than the official number. In The WSJ, Holman Jenkins argues the best solution for the eurozone crisis is for Germany and other strong economies to withdraw and establish a new currency:
Can we admit now the simple lesson is against excessive debt? Don't be impressed by those who protest that Spain and Ireland were brought down by private-sector extravagance. If we've learned anything, in a debt crisis the distinction between public and private disappears. Too, a closer look shows the Irish state an intimate participant in Ireland's housing boom, collecting 40% of the price of every new home in taxes. In Spain, regional governments owned or controlled the lenders that financed the construction binge. A fixed exchange rate system is an especially unforgiving environment for a welfare state that destroys its ability to create wealth. But the universal lesson is: Don't be a welfare state that destroys its ability to create wealth.
In Forbes, Peter Ferrara argues Mitt Romney’s economic platform is practical versus the President’s extremism.
At The American, Pethokoukis refutes Paul Krugman’s claim that wealth inequality contributed to the credit boom. On International Liberty, Dan Mitchell notes an example of the Laffer Curve at work. At Forbes, Nathan Lewis examines how to modernize Social Security. From Bloomberg, James Grant discusses the Fed and markets:
In The NY Review of Books, Paul Krugman advocates higher deficits and inflation.
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, Brian Domitrovic highlights Donald Devine’s spending cuts during the Reagan era.
At The WSJ, Holman Jenkins diagnoses inequality obsession. In The WSJ, Stephen Moore notes the Senate vote on the Republican small business tax bill. On The Kudlow Report, Sen. Kay Bailey-Hutchison (TX) debates the plan:
The WSJexplains that yuan convertibility will require substantial financial liberalization in China.
From the Peterson Institute for International Economics, Nicholas Lardy argues that with its current account surplus down and its currency higher, there’s no cause to press China to raise the yuan further. And on the downside, The Washington Postreports PIIE chief Fred Bergsten making common cause with Occupy Wall Street. On TGSN, Ralph Benko highlights a pro-gold article by Princeton scholar and one-time Ben Bernanke collaborator Harold James. At The American, James Pethokoukis critiques arguments that the US should return to 1950s tax rates. From First Trust, Brian Wesbury suggests big government doesn’t make one any more secure from life’s risks. In The WSJ, US Trade Rep. Ron Kirk notes rising export of US services.
From Forbes, Brian Domitrovic explains how Reagan got gas prices to drop.
In The NY Sun, Ira Stoll notes this week’s tax competition conference in New York.
At Forbes, Robert Lenzner reports on the recent George W. Bush Presidential Center event on tax competition where panelists stressed the need for a four percent growth rate.
On The Kudlow Report, Stephen Moore rebuts the suggestion that Ronald Reagan would support the Buffett Rule:
Money News features Lew Lehrman on the need for a gold-linked dollar. At The American, James Pethokoukis formulates some genuine Reagan Rules for President Obama. In The WSJ, Brian Gaines and Douglas Rivers suggests most people oppose high tax rates on the rich. In Forbes, Janet Novack reports the widening gap between high and low tax states. From City Journal, Guy Sorman highlights a World Bank report on global economic liberalization and the decline of poverty. At Reason, Art Laffer discusses how to reform California’s economy:
From National Review, Jonah Goldberg worries that Mitt Romney favors business rather than free markets. Reuters reports Brazil’s President complaining to President Obama about US monetary policy. On TGSN, Ralph Benko recounts the monetary roots of Civil War Reconstruction.
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.
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.
On CNBC, Larry Kudlow discusses Mitt Romney and Bernanke’s remarks:
In Forbes, Brian Domitrovic rebuts Christina Romer’s critique of supply-side economics.
On Bloomberg, Robert Mundell advocates greater US fiscal discipline.
At Fitsnews, Ralph Benko reports South Carolina’s consideration of gold and silver as legal tender.
From First Trust, Brian Wesbury highlights the Fed’s move away from QE3.
At a press conference, US Rep. Eric Cantor (VA) announces the House Small Business Tax Cut Act to provide a tax deduction equal to 20% of their active business income.
Rush Limbaugh applauds Mitt Romney’s more pugnacious economic message but wonders if he means it (h/t: Jerry Bowyer).
From Business Insider, Joe Weisenthal argues the eurozone’s problems stem from the euro’s similarity to the gold standard. He fails to consider that under an international gold standard, the euro would not be pushed so high by the low dollar.
On Forbes, John Tamny suggests the blockbuster Hunger Games book and film is an anti-government parable.
From Forbes, Brian Domitrovic explains the weak dollar caused the real estate bubble.
In The NY Sun, Ira Stoll notes the problems for savers with zero interest rates.
At RCM, John Tamny suggests there’s nothing wrong with China’s new trade deficit.
On The Kudlow Report, John Rutledge discusses the US’s tough trade stance towards China:
At TGSN, Ralph Benko highlights Jacques Rueff’s analysis of the monetary errors that led to the Great Depression. In The Washington Times, Richard Rahn argues the world economy’s future is bearish. From Alhambra Partners, Joe Calhoun expresses pessimism about the economy. At Hindu Business Line, G. Ramachandran links Robert Mundell’s euro to the Roman Empire. On The WSJ, Paul Gigot discusses Newt Gingrich’s prospects in the southern primary states:
On Econlog, David Henderson disputes Louis Woodhill’s analysis of gold and oil.
In The NYT, Bruce Bartlett advocates higher tax rates to raise more revenues.
