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 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 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 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.
From The NY Sun, Lewis Lehrman encourages Mitt Romney and Rick Santorum to join the sound dollar alliance.
The Washington Postreports the role of leading supply-siders in the Gingrich campaign. The NY Sunnotes Mitt Romney’s resistance to gold in monetary policy. In Forbes, Ken Repoza quotes Paul Hoffmeister on Ron Paul and monetary policy. On The Kudlow Report, Stephen Moore discusses rising government benefits:
In The Washington Times, James Bacon analyzes Fed policy and finds himself in agreement with Ron Paul. From The Cayman Financial Review, former El Salvadoran Minister of Finance Manuel Hinds argues for a return to gold. On TGSN, Ralph Benko reports the FDR cabinet debate over devaluing the dollar. At Asia Times, David Goldman notes Egypt is down to $10 billion in reserves. From TGSN, Benko countersThe Washington Post’s Ezra Klein on gold-linked money. On Kudlow, James Pethokoukis discusses the economy’s weak recovery:
On International Liberty, Dan Mitchell responds to the State of the Union’s tax analysis. In National Journal, Grover Norquist predicts a crisis if President Obama is re-elected and doesn’t extend the Bush tax cuts. MarketWatch notes weak dollar advocate C. Fred Bergsten of the Peterson Institute for International Economics will step down as director at year’s end. At The American, James Pethokoukis explains that US economic growth is way off. On CNBC, Bruce Bartlett advocates revenue-neutral tax reform with a focus on corporate tax reform:
At The WSJ, Niall Ferguson argues the euro has been flawed since its inception. The WSJnotes the Fed’s recommitment to loose money. From First Trust, Brian Wesbury suggests monetary policy remains too loose. In The WSJ, George Melloan analyzes the recent Japanese trade deficit. At Business Insider, Dean Baker argues supply-side economics doesn’t work. From Op-ed News, journalist Robert Parry critiques supply-side economics.
The WSJnotes Newt Gingrich’s rise, compliments his citation of Ron Paul’s hard money mantra, and urges Mitt Romney to take a bolder tax reform stance.
The NY Sunapplauds Gingrich’s naming Lewis Lehrman and James Grant to his Gold Commission.
In The Weekly Standard, Bill Kristol praises the Gold Commission.
On The WSJ, Kim Strassell discusses Romney’s tax return and Gingrich’s Freddie Mac contract:
In The WSJ, Stephen Moore notes voter enthusiasm for Gingrich. The Right Scoop cites radio host Mark Levin challenging Gingrich on the creation of supply-side economics. Levin says, incorrectly, that Reagan ran on supply-side economics in 1974. In fact, according to Bob Novak's memoir, The Prince of Darkness: 50 Years Reporting in Washington, Reagan was converted to supply-side economics (tight money, marginal tax rate cuts) at a private meeting with Jack Kemp in early 1979. At RCM, John Tamny notes the stock market’s weakness versus gold.
In The Washington Post, James Grant examines the economy’s quick recovery, despite government austerity, from the recession of 1920-21. In The NYT, Romney advisor Greg Mankiw offers four principles for tax reform. At Globe Asia, Steve Hanke proposes a non-military solution to disputed territory.
Newt Gingrich’s campaign names Lew Lehrman and James Grant to its Gold Commission.
From Newt.org, Lehrman and Grant accept Gingrich’s offer.
CBS News reports Rick Santorum bashing Gingrich for his Gold Commission proposal:
"One is, well, a little radioactive in the sense of you just don't know what he's going to do or what he's going to say," Santorum said, citing Gingrich's comments earlier in the day that he'd like to reexamine the gold standard.
On The Kudlow Report, Stephen Moore responds to Paul Krugman on the tax rate paid by millionaires such as Romney:
On NRO, Larry Kudlow applauds Mitt Romney’s attack on crony capitalism.
In The NYT, David Leonhardt notes that most US taxpayers pay less than Romney’s 15%.
On Fiscal Times, Bruce Bartlett examines Romney’s tax arrangements.
At Forbes, Nathan Lewis explains gold’s role in establishing a stable currency.
In The NYT, former Obama car czar Steven Rattner chides progressives for minimizing deficits, comparing them to “fiscally irresponsible” supply-siders.
At The WSJ, Steve Hanke notes the positive property tax treatment in growing football playoff cities New York, San Francisco, and Boston versus Baltimore, which is stuck with high tax rates and a low population:
In The WSJ, Edward Lazear explains that despite the lower unemployment rate, it’s not any easier to get a job.
On RCP, John Tamny defends investment banking from Occupy Wall Street criticism.
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.
From Forbes, Nathan Lewis reviews Lew Lehrman’s gold standard plan. On NRO, Larry Kudlow suggests the Super Committee sequestration will be positive for markets, but fears a congressional capitulation.
At TGSN, Ralph Benko notes The Royal Institute of International Affairs interest in the gold standard.
The People’s Daily (China) reports on a speech about currency instability and exchange rates by supply-side economics founder Robert Mundell.
On The Kudlow Report, US Rep. Ron Paul (TX) argues the Fed is still engaged in quantitative easing:
At The Weekly Standard, Charles Wolf, Jr. suggests the Keynesian model is wrong in theory.
From First Trust, Brian Wesbury examines the positive parts of the economy.
In The WSJ, Gerald P. O’Driscoll notes the financial links between the US and EU.
At The Washington Times, US Rep. Steve Stivers recommends reform of Dodd-Frank.
On Kudlow, US Reps. Jim Jordan (OH) and Charlie Rangel (NY) debate the economy and taxes:
From reader S. Rao:
I listened through Herman Cain and Rich Lowrie's presentations at AEI earlier this week and wanted to point out some Jude Wanniski influences in Lowrie's presentation. Video of the AEI Panel including Lowrie, here: (click on "A Panel Discussion . . .")
(at 26:35): Lowrie distinguishes the incidence and burden of a tax. Wanniski noted the same but in the capital gains context.
(at 32:54): Lowrie notes that the capital gains tax is a wall between those who have ideas and those with money. See the Wanniski-Laffer wedge model, here.
(at 33:29): Lowrie notes that productivity depends on the ratio of capital to labor. Wanniski used the analogy of a thick soup "Think of a pot of soup that has mixed in it labor and capital. If we add more capital, and stir it up, the soup becomes thicker, with a higher capital/labor ratio."
(at 36:24): In the context of the poverty portion of the 9-9-9 plan, Lowrie says it is obvious that to have general growth we "can't leave anyone behind"; and, in reverse, to address poverty, we must address general growth. A comparable point was made by Wanniski about Reagan in 1980. As President Reagan said in the "Good Shepherd" television commercial: "Those who have the least will gain the most. If we put incentives back into society, everyone will gain. We have to move ahead. But we can't leave anyone behind."
