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 The WSJ, David Malpass suggests Greece’s departure from the euro will be a benefit primarily for currency traders.
In Forbes, Nathan Lewis argues the dollar/gold price should be set at $1600.
At RCM, John Tamny blames Eliot Spitzer’s harassment of tech investors for Facebook’s IPO difficulties. On The Kudlow Report, James Pethokoukis debates the deficit:
In The WSJ, Paul Rubin explains to the President that profits direct markets to better serve consumers.
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.
From Forbes, Nathan Lewis explains the simplicity of gold-linked money.
On RCM, Bill Frezza argues supply-side critics are wrong to oppose sound money.
The NY Sunhighlights the decline in confidence in the Federal Reserve even as it becomes more transparent.
On The Kudlow Report, Home Depot Bernie Marcus debates the free enterprise system:
In Forbes, John Tamny critiques a TV show’s bad economics about China and US treasuries. From FT/Alphaville, Izabella Kaminska notes the world’s move to gold as safe collateral. In The Weekly Standard, Bill Kristol predicts Mitt Romney will win the presidency if he focuses on issues. At The WSJ, Bill McGurn blames the tax code for a significant increase in US expatriates renouncing their citizenship.
In The WSJ, Stephen Moore reports on Orrin Hatch’s (UT) Tea party primary opponent.
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, 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 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.
In The WSJ, Kevin Hassett and Glenn Hubbard analyze the candidates’ corporate tax reform plans.
The NY Sunargues monetary policy is driving high oil prices.
From First Trust, Brian Wesbury sees no sign of QE3 coming.
On The Kudlow Report, Larry discusses the GOP race after Rick Santorum’s victories in Alabama and Mississippi:
At TGSN, Ralph Benko reprints Lawrence White’s argument that the US has enough gold to transition to the classical gold standard. From NWE, Nathan Lewis counters the claim that the classical gold standard limited current account deficits. On CNBC, Steve Forbes discusses the GOP candidates.
At Reuters, Chris Papagianis notes three disturbing trends in commercial banking.
From Forbes, Brian Domitrovic defends Mitt Romney’s supply-side rhetoric.
On NRO, Larry Kudlow pans the Fed’s sterilized bond purchase plan.
At Forbes, Nathan Lewis explains a gold/dollar link would match currency supply with demand.
From Alhambra Partners, John Chapman suggests a US consensus on progressive taxation.
On CNBC, James Grant discusses the global loose money binge:
In The WSJ, Allan Meltzer notes similar patterns of wealth accumulation among the top 1% in European social democracies as in the US. On US News, Bruce Yandle suggests bringing back the Misery Index. In The WSJ, Stephen Moore argues California learn economic lessons from North Dakota. From MarketWatch, Prof. Michael Bordo worries the Fed may be in danger of overshooting on inflation. In The WSJ, George Melloan reviews a book on escalating compliance costs in US companies. From The Manhattan Institute, Diana Furchgott-Roth refutes income inequality claims. On The Kudlow Report, James Pethokoukis debates the latest job creation numbers:
At American Breaking Point, Charles Goyette remembers Jude Wanniski. In Fiscal Times, Bruce Bartlett examines who is really rich today.
From Forbes, Richard Salsman urges Mitt Romney to strengthen his supply-side rhetoric.
On NRO, Larry Kudlow suggests Romney won last week by focusing on tax cuts and spending restraint. In The WSJ, Stephen Moore reports that if Newt Gingrich bows out he may endorse Rick Santorum. The Weekly Standardhighlights a study by our friends at Evolving Strategies that suggests Romney is the strongest general election candidate. In an ad, Newt Gingrich advocates lower gas prices but leave a stronger dollar out of the equation:
At CityAM (UK), Austrian George Selgin blames England for the monetary mess that led to the Great Depression. On NWE, Nathan Lewis examines the falling commodity-1890s. From First Trust, Brian Wesbury argues the Fed can’t make the case for QE3. At Forbes, Jerry Bowyer links low interest rates to weak recoveries. CBS News notes alternative, higher inflation numbers. At Calafia Beach Pundit, Scott Grannis highlights Obamacare’s seven fatal flaws. The Atlanticnotes that Yale’s tuition is the same today in gold as in 1900. The WSJwarns against excess liquidity creation from the world’s central banks. At Forbes, Nathan Lewis explains the link between the dollar and oil. On the Kudlow Report, David Goldman suggests oil’s price increase is not driven primarily by the Fed:
Politicoreports Ben Bernanke saying gas prices won’t drive up inflation. On TGSN, Ralph Benko notes the Fed’s poor track record of predictions. At The American, James Pethokoukis highlights 13 charts that highlight the President’s poor economic record. US Newshighlights a poll showing Keynesian spending stimulus is unpopular. In The WSJ, Fred Barnes applauds US Rep. Paul Ryan’s (WI) ongoing Medicare leadership, but omits polls suggesting the GOP may lose the House in November. In The WSJ, Democratic Gov. Jack Markell (DE) notes the decline of American IPOs since the 1990s.
The U.S. has experienced a stunning decline in IPOs and stock listings while capital markets in Asia, Europe and South America have thrived. Data from the World Federation of Stock Exchanges show that the number of U.S. IPOs has dropped to only about 100 annually, compared to about 360 a decade ago. In just 15 years, listings on U.S. exchanges dropped from 8,800 companies to under 5,000. Meanwhile, listings on major overseas exchanges doubled. Fewer than 10% of all global IPOs list on U.S. exchanges today, compared with 48% in the late 1990s.
The NYTreports London, not New York, is the money capital of the world. In The WSJ, Treasury Secretary Tim Geithner misdiagnoses the financial crisis of late 2008 as rooted in regulatory lapses rather than currency instability. At The Atlantic, Matthew O’Brien argues a global currency war would be positive because it would increase liquidity. In Fiscal Times, Bruce Bartlett notes looming debt and tax rate cliffs later this year.
