From Forbes, Charles Kadlec explains how the market
disciplined JP Morgan.
At Forbes, Ralph Benko argues sound money is needed for the economy to boom.
On Face the Nation, Mitt Romney advocates balancing the
budget through tax cuts and growth:
In a later segment, Romney discusses monetary policy:
BOB SCHIEFFER: The Federal Reserve, as I understand, is going to meet this week to weigh the possibility of a new economic stimulus for our economy. Now, you didn't think much of the last stimulus. What do you think they should do now--is it time for another?
MITT ROMNEY: Well, the QE2, as it's called, which was a monetary stimulus,
did not have the desired effect. It was not extraordinarily harmful, but it
does put in question, the future value of the dollar, and will, obviously,
encourage some inflation down the road. A QE3 would do the same thing. I know
how it is. Politicians in office want to do everything they can just before an
election to try and temporarily boost something, but the potential threat down
the road of inflation is something which we have to be aware of, and at the
last QE2, the last monetary stimulus, did not put Americans back to work, did
not raise our home values, did not bring jobs back to this country or encourage
small businesses to open their doors. What's wrong with our economy is that our
government has been warring against small, middle, and large businesses. And
people in the business world are afraid to make investments and to hire people.
I want to make it very clear that in my administration, government will see it as
the friend of enterprise and job creators, and we'll start building jobs again.
On Bloomberg, Ramesh Ponnuru profiles Grover Norquist.
At The American, James Pethokoukis defends Grover for opposing a hypothetical spending cut/tax increase deal.
From Alhambra Partners, Joe Calhoun analyzes Greece and
the Eurozone.
From The Money Illusion, Scott Sumner argues monetary policy is at its tightest since Herbert Hoover.
On TGSN, Ralph Benko recounts the Democratic Party split
of 1896 over gold.
At International Liberty, Dan Mitchell notes the President’s
wise economic advice… to other nations.
From The WSJ, Stephen Moore discusses the possibility
that the House could go Democrat:
CNBC reports Goldman Sachs predicts monetary easing from
the Fed (h/t: Drudge).
In The NYT, Bruce Bartlett examines income changes at the
top and bottom of the spectrum.
From Forbes, Charles Kadlec sees tightening money
slowing growth. At NRO, Larry Kudlow suggests the dollar’s rise against
the euro is creating deflationary headwinds for the economy.
On Fox Business, Lew Lehrman notes the dollar tightening
since the end of QE2 (h/t: TGSN):
At Forbes, Louis Woodhill challenges the economic
philosophy behind President Obama’s view of government-created jobs.
The Heritage Foundation charts relative growth rates of
the private sector versus local, state and federal government.
At City Journal, Art Laffer argues for tax reform in
California.
In The WSJ, Edward Lazear argues the President can’t
blame his predecessor for the weak economy.
At C-SPAN, Bill Kristol suggests Republicans would be
better off without Ron Paul, but says he is “mildly pro gold standard” (h/t: Free
Banking):
On International Liberty, Dan Mitchell chides Jeb Bush
and Lindsey Graham for putting tax hikes on the table.
Reader Supported News reports Bernie Sander’s release of
Fed bailouts.
In The WSJ, Stephen Moore notes continued sugar
subsidies.
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, Ralph Benko and Charles Kadlec applaud Herman Cain’s new book for its focus on the gold standard.
In The WSJ, Edward Lazear argues the supply-side view of austerity – cut spending, keep taxes low -- is correct. At Cato, Alan Reynolds explains that today’s higher executive pay is due mainly to past tax reforms thatreduce penalties for declaring income. On The Kudlow Report, Stephen Moore discusses austerity vs. stimulus:
In Forbes, John Tamny opposes the estate tax. The NY Sunrecounts the history of the Federal Reserve's founding. On The Daily Beast, David Frum highlights Charles Kadlec debating the gold standard. In The WSJ, Stephen Moore notes strong poll numbers for Gov. Scott Walker (WI). At PJ Media, David Goldman applauds Germany for insisting upon Greek budget cuts. In The WSJ, Matthew Sinclair outlines ideas for British tax reform. From Heritage, Rob Bluey summarizes the 2013 tax increases.
From Forbes, Charles Kadlec notes the failure of Europe’s tax-increase austerity.
At TGSN, Ralph Benko highlights Jacques Rueff’s critique of the post-war gold exchange standard.
On C-SPAN, Steve Forbes supports US Rep. Ron Paul (TX) for Fed Chairman:
At The American, Alex Brill examines tax fairness. In The Washington Times, Richard Rahn lambasts the Obama Administration’s new foreign reporting requirement for US banks. From Alhambra Partners, Joe Calhoun investors stay in cash. On NRO, Larry Kudlow analyzes the weak recovery. At The WSJ, James Swanson discusses Bill Clinton’s claim that President Obama is ahead of the curve pulling the US out of the financial crisis:
In The WSJ, Stephen Moore reports a congressional debate over highway spending. From The Washington Post, Ezra Klein notes the return of many GW Bush economists on the Romney campaign. At The WSJ, Cass Sunstein highlights an executive order to harmonize US and foreign regulation.
On Salon, Michael Lind argues the era of globalization is over. The coal industry highlights the financial strain of rising energy costs:
In The NYT, Bruce Bartlett argues current tax rates aren’t blocking economic growth. From Bloomberg, Rich Miller argues higher tax rates won’t discourage the wealthy from working harder.
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 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.
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 Forbes, Charles Kadlec applauds Mitt Romney’s focus on economic freedom.
In The WSJ, Jason Riley reports conservative Sen. Jim DeMint’s (SC) support for Romney.
At his website, US Rep. Paul Ryan (WI) returns to his supply-side roots with a study, "The Fiscal Effects of FasterGrowth." On CNBC, Steve Forbes discusses the slow growth economy, the dollar, trade and taxes:
At Forbes, David Ranson explains the negative impact of the zero interest rate policy.
From The American, Bret Swanson highlights technology's impact on economic growth.
At Forbes, John Tamny derides the US attack on China’s rare earths export policy.
On The Kudlow Report, a panel discusses the Fed, the market, and the falling dollar:
The WSJreports the dollarization of Zimbabwe’s inflation-ravaged economy. The WSJnotes former flat taxer Gov. Jerry Brown’s (CA) proposal to raise his state’s top tax rate to 13%.
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 Forbes, Charles Kadlec urges House Republicans to take credit for the improving economy.
The WSJnotes the US debt burden will soar if interest rates rise from their historically low level.
In Forbes, Steve Forbes links oil’s price rise to the dollar’s decline.
On The Kudlow Report, Brian Wesbury debates the claim that everyday prices point to an 8% inflation rate:
On International Liberty, Dan Mitchell applauds Sen. Rand Paul’s (KY) plan to slow federal spending. At Forbes, Ralph Benko reviews James Rickards’ Currency Wars.
On RCM, Louis Woodhill argues the economy is doing better because monetary and fiscal stimulus have largely stopped. In The WSJ, Charles Calomiris advocates the Fed should increase its cash reserve requirement to restrain inflation.
From The Independent Institute, Robert Higgs predicts the deficit and monetary splurge of recent years will have long-term consequences.
On Kudlow, our pal Sean Spicer of the RNC argues the President’s policies contribute to high gas prices:
At RCM, Robert Samuelson analyzes Japan’s two lost decades but mostly avoids its soaring exchange rate versus the dollar.
On Slate, Wei Gu and Edward Hadas suggest China’s trade deficit points to a fundamental shift towards consumption in its economy.
From The WSJ, Bill McGurn argues Ronald Reagan looked like a sure-loser at this point in the 1980 campaign.
In The WSJ, Stephen Moore reports Rick Santorum’s argument that he is stronger than Mitt Romney in purple states. In Forbes, Charles Kadlec suggests government policy, not lack of regulation, caused the housing bubble. On The Kudlow Report, progressive Jared Bernstein argues Romney will repeat the trickle-down policies that led to recent years’ economic problems:
From Alhambra Partners, Joe Calhoun rebuts Ben Bernanke’s claim that the economy’s performance is not his fault. On The Street, Ralph Benko defends the gold standard from columnist Gary Weiss. At TGSN, Ralph Benko features Alan Greenspan’s never-published testimony from the 1981 US Gold Commission. Stateline reports Art Laffer’s success convincing states to reduce tax rates.
From the C-SPAN archive, US Rep. Jack Kemp (NY) announces his 1987 bid for President. Alan Reynolds comments, “Watch it and compare the current candidates to see what we have lost.”
In The NYT, Bruce Bartlett argues (correctly, IMO) that class warfare sentiment rises when, in recession, conservatives argue for cutting programs for the poor while refusing to raise tax rates on the wealthy. (Of course, the right answer isn’t raising taxes.)
In Forbes, Ralph Benko chides Rick Santorum for opposing the gold standard.
From Bloomberg, Ramesh Ponnuru explains small business opposition to the President’s corporate tax reform plan. At Forbes, Charles Kadlec links the falling dollar to the rising oil price. On The Kudlow Report, House Majority Leader Eric Cantor (VA) discusses the Republican jobs act:
In The CSM, Stefan Karlsson warns against a Greek devaluation. From First Trust, Brian Wesbury doubts a stock market correction. In The Washington Times, Richard Rahn argues for Federal Reserve reform but stops short of supporting gold. At CNBC, John Carney suggests Reagan and Thatcher’s economic programs worked. USA Todayreports the President will create a trade enforcement bureau. From Reason, James Pethokoukis discusses anti-growth government policies.
At The American, Pethokoukis quotes Bruce Bartlett on the mainstreaming of supply-side economics. In The NYT, Bartlett analyzes corporate tax reform. At Modeled Behavior, Karl Smith suggests work incentives are altered until tax rates hit 70%.
From NRO, Larry Kudlow suggests Mitt Romney should downsize the US government to turnaround America, Inc.
In The WSJ, Don Luskin advises Romney to defend his work at Bain. From Cato, David Boaz defends US Rep. Ron Paul’s (TX) analysis of the financial crisis.
On The Kudlow Report, Stephen Moore discusses Romney's taxes:
In The Washington Post, Bill Knapp suggests the middle class is not stagnating. IBDreports the Federal Reserve is preparing QE3. The NY Sunopposes release of Fed transcripts. In Forbes, Charles Kadlec argues declining freedom is the root of the economy’s problems. At Powerline, Steven Hayward advocates a Laffer Curve for regulation. On CNN, Sen. Jim DeMint (SC) applauds Ron Paul’s Federal Reserve criticism:
On Bloomberg, Virginia Postrel pans the new Margaret Thatcher movie. In The Washington Times, Richard Rahn compares the economies of Cayman and Belize.
Apologies for the gap in service last week. Was in Austin, TX for The Laffer Center’s winter meeting featuring interesting talks from Art Laffer, Brian Domitrovic, Steve Moore, John Chapman, and Dan Mitchell, plus terrific comments from Louis Woodhill. -----------------------
In Forbes, Louis Woodhill suggests Mitt Romney doesn’t understand growth, starting with his neglect of the dollar.
