Holiday week round up: Gingrich adopts a strong supply-side agenda and Laffer endorses; Ferrara on the President's Osawatomie, KS speech; Domitrovic on the Fed's third mandate.

From The WSJ, Newt Gingrich outlines his supply-side agenda including monetary reform:

Second, the dollar needs to be stabilized by establishing a price rule for the Federal Reserve to follow in its conduct of monetary policy. This will help stabilize international exchange rates, resolve the ongoing cycles of global financial crises and investment bubbles, short-circuit the run-up in gas and food prices, and unlock the frozen credit system.

On The Kudlow Report, Gingrich discusses his plan:



Human Events reports Art Laffer and Michael Reagan endorsing Newt Gingrich’s supply-side plan.

At Forbes, Steve Forbes argues President Obama will be a one-term president.

From Forbes, Peter Ferrara critiques the President’s attack on supply-side economics.

On Fox News, Laffer discusses his support for Gingrich:

 

From Forbes, Brian Domitrovic suggests the Federal Reserve has a third, secret mandate to fund the government’s debt.

On CNBC, John Carney cites Jude Wanniski’s Two-Santa Theory to criticize Republican handling of the payroll tax holiday.

At IBD, Walter Williams rebuts China bashers.

From Human Events, Larry Kudlow profiles US Rep. Paul Ryan (WI) as man of the year.

At Forbes, Bret Swanson critiques the Obama Administration’s focus on increasing consumption.

On Kudlow, Steve Forbes discusses the GOP race:



From TGSN, Larry White explains how to transition to a gold-linked dollar.

In The WSJ, Robert Guest outlines the positive contribution high-skill immigrants make to the US economy.

On Forbes, Louis Woodhill suggests the payroll tax holiday is bad for the economy.

At TGSN, Ralph Benko quotes Isabel Patterson on Isaac Newton’s role in defining the British pound as a weight of gold.

On The Larry Parks Show, The American Principles Project’s Sean Feiler discusses the weak dollar’s role in workers’ declining wages.

From Bloomberg, Robert Mundell applauds the ECB’s recent monetary expansion:


The WSJ profiles Gov. Romney, noting possible support for a Value Added Tax.

At TGSN, Ralph Benko wishes the Federal Reserve happy birthday.

In The WSJ, Stanford’s John Taylor argues for tax rate stability.

Tuesday update: Domitrovic on past gold standard errors; Benko on the euro and gold; Asness on bad policy.

On Forbes, Brian Domitrovic outlines ten mistakes to avoid under a gold standard.

At Forbes, Ralph Benko proposes a fusion of Robert Mundell and John Tamny to save the euro with a link to gold.

In The WSJ, Clifford Asness argues bad policy, not uncertainty, is the root of the economy’s trouble.

From the Gold Money Foundation, American Principles Project Chairman Sean Feiler discusses the group’s gold standard project:



On Forbes, Charles Kadlec chides NRO’s Kevin Williamson for his growth skepticism but applauds House Republicans and Tim Pawlenty.

At The Freedomist, William Collier, Jr. bashes Williamson for prioritizing deficits over growth.

On NRO, Williamson makes a positive contribution on inflation.

From Bloomberg, National Review’s Ramesh Ponnuru proposes middle class tax reform featuring a big increase in the child tax credit while reducing deductions and lowering the floor on the top tax bracket.

On Dick Morris TV, Morris provides an interesting assessment of the GOP debate. Most disappointing, Pawlenty was seen widely to have been timid and uncertain:




At Business Insider, Joe Weisenthal doubts Bill Gross’s warnings on Treasuries.

On CNBC, John Carney cites a Federal Reserve analysis that uses the Taylor Rule to indicate that for peripheral European nations, the euro’s interest rates are too high.

Wednesday round up: Feiler and Bell on the unrestrained Fed; Woodhill on growth vs austerity; Goldman on gold and silver.

From The WSJ, Sean Feiler and Jeff Bell advocate gold as the only credible means to discipline the Federal Reserve.

At Forbes, Louis Woodhill counters John Mauldin’s deleveraging mania with a call for higher growth.

On The Kudlow Report, David Goldman discusses gold and silver prices:



In The WSJ, Holman Jenkins, Jr. suggests governments will cope with debt through austerity and inflation.

At Future of Capitalism, Ira Stoll wishes the Ryan tax plan made deeper cuts to corporate and individual tax rates.

On COAL, Paul Krugman argues a significant portion of the Ryan budget plan cuts spending on seniors and the poor to fund lower tax rates on corporations and top earners:



From The Hoover Institution, Kip Hagopian notes the inequities of the progressive tax system.

On TGSN, Ralph Benko reports a good article on the gold standard from the Economic History Association.

At National Review, Ramesh Ponnuru argues the Fed was right to enact QE2.

The NYT reports progress on the Colombia trade agreement.

Monday items.

In The Weekly Standard, Jeffrey Bell and Sean Feiler argue the GOP doesn’t understand the monetary roots of the economic crisis.

At the moment, Republican leaders and policy elites are advancing exclusively fiscal solutions that address only the government response to the economic crisis and not the crisis itself. Fiscal deficits did not create the crisis, and reducing deficits won’t put our economy on a stable footing. From its inception in 2007 right up to the present, the crisis derived from the interaction between excessive investment leverage and dysfunctional interest-rate policy—in other words, a predominantly monetary phenomenon, albeit one that has had grave fiscal consequences.

As long as the GOP enjoys the luxury of being the only alternative to Barack Obama and the Democrats, the party is understandably reluctant to delve into the murky depths of monetary policy. But after November 2, the Republicans’ role will change. They could do worse than pay attention to the only public official, elected or unelected, who is speaking out against current monetary policy, telling anyone who will listen—including an increasingly impatient Tea Party movement—that the root of the crisis is monetary.

On Forbes, John Tamny suggests the President’s best chance for a comeback requires rejecting devaluationist ideas.

At CNBC, Peter Morici and former GW Bush official Tony Fratto discuss China’s currency:



At Classic Capital, Wayne Jett explains the role U.S. monetary authorities have played in destabilizing the world financial system.

Monetary inflation is an accomplished fact, and product prices will adjust accordingly as an added variant of supply-demand signals. So far, the CPI has adjusted only 16.6% since 2003, leaving nearly 60% in price rises still to be realized. This means price inflation of 6-12% annually over the next five to ten years is already built into the dollar. Talk of “deflation” is either ignorant or deceptive, because any downward pressure on prices comes not from monetary policy but from falling demand in relation to supplies of goods and services.

China pegs its currency to the dollar to avoid loss of U. S. markets. Duplicating the Fed’s money creation causes worse inflation in China than the Fed creates in the U. S. Congress was set to make matters worse in September by voting on a bill to allow penalties to be imposed on Chinese producers to compensate U. S. producers for China’s “weak” currency, but adjourned to avoid voting on extension of the Bush tax cuts.

The world’s best monetary theorist, Robert A. Mundell, declared such U. S. penalties would create a “disaster” which would create even greater instability in international relations. He further warned that the China penalty bill distracts from attention to the primary source of monetary instability, which is devaluation of the dollar relative to the euro. The recent dollar/euro ratio, Mundell declared, “is a terrible thing for the world economy. We’ve never been in this unstable position in the entire currency history of 3,000 years.” Since Mundell spoke in September, the dollar/euro ratio has worsened to $1.40, provoking European retaliation. Japan, too, is being priced out of the U. S. market, with the dollar now worth only 82 yen.

From last month, The NY Sun recounts a prominent investor’s warning on the dollar and gold.

On Forbes, Steve Forbes interviews Albania’s prime minister about the flat tax.

At The Money Illusion, Scott Sumner discusses tax rates and incentives.

Also on The Weekly Standard, Matthew Continetti warns Republicans not to emphasize austerity over growth.

In The American Spectator, Stephen Moore debunks Green Jobs.

World Net Daily reports on financial industry calls for a single world currency.

On The NY Times, the Heritage Foundation’s Derek Scissors opposes Chinese devaluation.