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, Peter Ferrara argues the true unemployment rate is 11%. In The WSJ, Anne Jolis notes the success of Sweden’s tax cuts and labor reforms. On The Kudlow Report, Don Luskin discusses the G-8 Summit:
China Dailyreports Robert Mundell discussing the complementarity of Taiwan and Fujian. On Bloomberg, Caroline Baum challenges Paul Krugman on the debt. From Financial Sense, Steve Forbes advocates free markets and gold.
At The WSJ, Stephen Moore highlights Nebraska’s GOP primary for the US Senate.
From Forbes, Nathan Lewis outlines how to transition to a gold standard.
At PJ Media, David Goldman explains that a trade deficit nation like Greece is different from a trade surplus nation like Argentina. In a speech, John Tamny compares the Great Depression to the current era. On The Kudlow Report, Stephen Moore opposes sugar taxes:
At Forbes, Peter Ferrara defends US Rep. Paul Ryan (WI) from Catholic claims his budget proposal violates Church teaching. In The WSJ, Stephen Moore reports on the Texas GOP primary. From Project Syndicate, Barry Eichengreen suggests the eurozone will survive if it has the will to devalue. On Fiscal Times, Bruce Bartlett applauds the rich as earlier adopters of technology.
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 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 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.
The WSJargues the Buffett Rule will reduce federal tax revenue.
Heritage highlights the Taxmageddon coming in 2013. From NRO, Larry Kudlow clarifies the Reagan record on tax hikes such as the Buffett Rule. At The WSJ, Mary Anastasia O’Grady discusses Reagan’s tax record:
ALEC releases Art Laffer’s state index of state economic competitiveness. From The American Spectator, Peter Ferrara and Stephen Moore oppose using equality to make tax policy. At Forbes, Louis Woodhill laments Spain’s tax increases on top of an already weak economy. NPR features Robert Mundell suggesting Iceland may do well to replace the krona with a large nation’s currency. On Hardball, Stephen Moore debates tax policy:
The NYTreports an initiative to make diamonds an investment commodity like gold. In The WSJ, Stephen Moore notes the President’s opposition to the DC school voucher program for low-income kids. At Forbes, John Tamny wonders why so many conservatives supported Rick Santorum. On MSNBC, Steve Forbes discusses Mitt Romney’s chances versus President Obama.
On Bloomberg, Mundell explains how to accept a Nobel Prize.
From Forbes, Nathan Lewis suggests huge, permanent current account deficits are no problem.
IBDlinks the dollar’s foreign exchange value and the oil price.
At Forbes, Ike Brannon argues low taxes on capital gains and dividends are essential to productivity and wage growth.
On CNBC, former US Sen. Jim Talent (MO) discusses Mitt Romney’s ties to US Rep. Paul Ryan’s (WI) budget plan:
In The WSJ, Phil Gramm and Steve McMillin note the US has the most progressive tax system in the world.
At TGSN, Ralph Benko reports new data that suggests Milton Friedman drastically overestimated the gold standard’s cost.
From The Gatestone Institute, David Goldman links oil prices to the S&P.
At The American, James Pethokoukis highlights the weaken-than-expected March employment figures.
In Forbes, Peter Ferrara predicts the Supreme Court will strike down Obamacare.
The WSJquotes the great Henry Hazlitt on the dangers of even a mild inflation. In The WSJ, Ronald Coase and Nina Wang explain China’s success is due to liberalization not state control. On Forbes, Tim Worstall notes rumors of a currency union between Australia and New Zealand. In The WSJ, Antonis Samaras reports the dire effect on Greece of contraction plus austerity. In Forbes, Steve Forbes highlights the Chinese highway partnership between public and private sectors.
At Bloomberg, Forbes critiques the US Federal Reserve:
For at least three years, right-wing economists, pundits and politicians have been warning that runaway inflation is just around the corner, and they keep being wrong. Do you remember the tirades about “debasing the dollar” around this time last year? Do you remember the scorn heaped on Mr. Bernanke last spring when he argued that the bulge in inflation taking place at the time was just a temporary blip caused by gasoline prices and would soon recede? Well, he was right. At this point, inflation is once again running a bit below the Fed’s self-declared target of 2 percent.
At Fiscal Times, Bruce Bartlett suggests earmarks are less important than some conservatives suggest.
From TGSN, Ralph Benko rebuts the report of the Chatham House Gold Taskforce.
In Forbes, Peter Ferrara defends US Rep. Paul Ryan’s (WI) budget and tax plan.
From NWE, Nathan Lewis explains the tight money roots of the 1920 recession.
At RCM, John Tamny refutes the claim that the stock market has risen due to Fed policy.
On Market Watch, Art Laffer discusses the tax cliff coming in 2013:
In The WSJ, John B. Taylor argues that rules-based monetary policy is clearly superior to discretionary policy. In Forbes, Louis Woodhill critiques spending stimulus. On NRO, Larry Kudlow pans the President’s attacks on the oil industry and the wealthy. Also on NRO, Kudlow suggests Mitt Romney will be advantaged if the Supreme Court overturns Obamacare. In The NY Post, Dan Mitchell blames the President for weak economy. At Forbes, Jerry Bowyer continues his analysis of the gold price. In The WSJ, Stephen Moore profiles Gov. Rick Scott. On CNBC, Kudlow discusses oil’s price:
Politicoreports Republicans fear Hispanic opposition at the ballot box. On Oklahoma Public Radio, a snarky Prof. Jonathan Willmer opposes Laffer’s proposed state tax rate cuts. The OC Registerapplauds Laffer’s state tax reform proposal.
From NRO, Larry Kudlow sees Reagan emerging in Mitt Romney.
In USA Today, Romney says he would repeal Obamacare and outlines steps to reform the health system. At Forbes, Peter Ferrara applauds US Rep. Paul Ryan’s (WI) budget plan. On The Kudlow Report, a panel discusses the Ryan budget plan's cuts:
In an interesting analysis at PJ Media, David Goldman argues Rick Santorum is right to propose special help to manufacturers. In The WSJ, Stephen Moore reports on the five-way contest for Texas’s Republican Senate nomination. At RCM, Robert Tracinski underscores the Obama economy’s slow growth rate. The Beacon Center of Tennessee highlights Art Laffer’s new study on the state’s death tax. In The WSJ, Richard Katz suggests Japan has lost its edge in electronics. The National Interestremembers Robert Bartley’s legacy at The WSJ. The NYTnotes America’s declining reliance on exported oil. On Fox Business News, finance legend Robert Prechter argues the biggest risk to the economy is deflation:
Seeking Alpha advocates a demand-side revolution while mischaracterizing supply-side economics. At Fiscal Times, Bruce Bartlett critiques the Ryan budget plan.
From Forbes, Charles Kadlec explains the falling dollar’s impact on commodity prices.
At NRO, Larry Kudlow argues a stronger dollar would cut the oil price.
On The WSJ, Daniel Yergin suggests current high gas prices are caused by foreign tension and tight supply:
From the archive, Jude Wanniski notes Yergin’s failure to understand the dollar’s impact on oil prices:
When I wrote the energy editorials for the WSJournal between 1974 and 1978, Yergin, just out of school, began his career as a Harvard energy expert by taking up the Malthusian cry that the world was running out of liquid petroleum and natural gas. He didn't know what he was talking about then, and he is no better now, permanently fixed in a drop of liquid amber as an energy pessimist. My optimism rests on my early schooling in geophysics, at UCLA, prior to a segue into political science and journalism. That is why the WSJ editorial page from 1974 to 1978 was arguing that there was no energy problem — that the oil crisis had occurred because Richard Nixon took us off the gold standard in 1971 ~ which led Canadian economist Robert Mundell to predict there would soon be a dramatic increase in the price of oil, and thence all other commodities. Supply-side economics was born out of the "energy crisis."
At Forbes, Peter Ferrara advocates faster growth to raise living standards.
In The NY Post, Dan Mitchell notes the Obama recovery’s slow pace.
From Forbes, John Tamny rebuts Greg Smith’s attack on Goldman Sachs.
In The NY Sun, Ira Stoll reports a union leader moving out of New York City to avoid high taxes.
At The American, James Pethokoukis features a graphic that summarizes what’s wrong with US healthcare.
In The WSJ, Stephen Moore highlights the recall effort against Wisconsin Gov. Scott Walker.
On The Kudlow Report, Moore discusses the US corporate tax rate:
The Boston Globeprofiles anti-tax advocate Grover Norquist.
The Florida Times-Unionreports local drug dealers using Tide detergent as currency.
In The NYT, Christina Romer argues marginal tax rates have limited impact on economic growth.
From NRO, Larry Kudlow applauds Mitt Romney for using supply-side language in his new tax plan rollout.
In The WSJ, Stephen Moore reports Newt Gingrich will use dynamic scoring to assess his tax plan. On NPR, Ways & Means Chairman Dave Camp (MN) critiques the President’s corporate tax proposal. At Forbes, Peter Ferrara argues the President’s budget will yield little other than more debt. On the Kudlow Report, Steve Moore debates the Romney tax plan:
The WSJexplains the falling dollar’s impact on oil prices. On International Liberty, Dan Mitchell highlights a video critiquing the Federal Reserve.
From Forbes, Nathan Lewis defends capitalism’s moral virtue. The Economisthighlights the burden of regulation on the American economy. The WSJ notes the higher British top tax rate is producing fewer revenues than predicted. On Kudlow, US Rep. Ron Paul (TX) discusses his economic plan:
In The NY Post, Jeff Bell argues for social conservatism. On his blog, Donald Marron praises Bruce Bartlett’s tax reform book. At Fiscal Times, Bartlett contends that neither Obama nor Romney adequately reform the tax code.
Editor's note: Spotty coverage last week and this due to personal travel. Will be back on track later this week. --------------------
From Creators syndicate, Alan Reynolds critiques the President’s budget proposal.
At Forbes, Peter Ferrara suggests the President’s budget will damage the economy. In The WSJ, Holman Jenkins advises Mitt Romney to take up the President’s challenge on the taxes paid by the wealthy. The WSJprofiles Jeff Bell who argues social issues are vital to the conservative coalition. On The Kudlow Report, former US Rep. Vin Weber (MN) discusses the GOP’s messaging problem:
On NRO, Larry Kudlow notes Ways & Means Chairman Dave Camp’s going after Treasury Sec. Tim Geithner on tax policy. In Reason, Tim Cavanaugh counters Geithner’s tax increase advocacy. At The American, Aparna Mathur notes the effect of higher taxes on capital flows. From American Thinker, Ralph Benko advocates a gold commission. In Forbes, Bill Bonner critiquesThe NYT’s coverage of a possible return to gold-linked money. At Monetary Choice, Dave Doctor rebuts Keynesian Dean Baker’s defense of the Federal Reserve. The NY Sunsuggests Sarah Palin would be a better World Bank president than Hillary Clinton. From Bloomberg, Gregory DL Morris recounts the history of the Federal Reserve’s founding. From last month’s Texas Public Policy Foundation conclave, Art Laffer debates Keynesian Jared Bernstein:
At The American, James Pethokoukis outlines arguments for the President’s opponents even if the economy is recovering. In The WSJ, Michael Boskin suggests government is a poor investor. USA Todaylinks the recession to slow population growth from births and immigration.
