Weekend round up: Benko on the current order's bankruptcy; Ferrara contrasts the candidates; Brennan on inequality.

From TGSN, Ralph Benko highlights a WSJ article that positively notes the stability provided by gold-linked currency.

On Forbes, Peter Ferrara contrasts the economic policies of President Obama and Mitt Romney.

At NRO, Patrick Brennan rebuts claims that income inequality is responsible for the economic crisis.

On CNBC, Don Luskin downplays global recession fears:

At Advisor Perspectives, Mish Shedlock suggests the US is already in a recession.

In The WSJ, Stephen Moore highlights Sen. Kirsten Gilibrand’s (NY) efforts to shield the food stamps program from cuts.

At TGSN, Jon Decker reviews Treasure Hunt in the Enchanted Forest, a children’s book that explains sound money, basic economics and savings.

In The WSJ, my old boss C. Boyden Gray announces a federal lawsuit to challenge Dodd-Frank’s constitutionality.

On International Liberty, Dan Mitchell critiques the Eurozone’s economic illiteracy.

In The WSJ, Jason Riley notes Mitt Romney’s new immigration reform proposals.

The WSJ remembers Milton Friedman collaborator Anna Schwartz.

From Fiscal Times, Bruce Bartlett sees the coming fiscal cliff as a chance for real tax and budget reform.

Tuesday items: Domitrovic on the SSE policy mix; Laffer and Moore on spending; Mundell advises China.

From Forbes, Brian Domitrovic rebuts Howard Gold’s attack on supply-side economics by noting the centrality of stable money to the policy mix.

In The WSJ, Art Laffer and Stephen Moore argue government spending is causing the economy’s weakness.

At China Radio International, Robert Mundell encourages China to ease monetary policy and to boost domestic expenditure and consumption.

On The WSJ, Steve Hanke responds to Paul Krugman on Estonia’s economy:

In The Washington Times, Richard Rahn doubts that monetary policy can restore the economy.

From Alhambra Partners, Joe Calhoun urges Ben Bernanke not to enact QE3.

In The WSJ, Stephen Moore notes the President’s declining poll numbers among white voters.

The Richmond Times-Dispatch interviews Art Laffer.

At Café Hayek, Russ Roberts challenges E.J. Dionne’s claim that government spending creates jobs.

On CBS, Paul Krugman defends the President’s focus on public sector jobs:

CNN Money reports family net worth plummeted 40% from 2007-2010.

Thursday round up: Forbes on Lewis' book; Kudlow on the Walker victory; Pethokoukis on the President's economic policies.

From Forbes, Steve Forbes urges reading of Nathan Lewis’ Gold: The Once and Future Money.

On NRO, Larry Kudlow links Wednesday’s Dow surge to Scott Walker’s recall victory.

At Forbes, Louis Woodhill argues the market is spooked by possible QE3.

On The Kudlow Report, James Pethokoukis debates the President’s economic policies:

In The WSJ, Phil Gramm and Glenn Hubbard suggest Mitt Romney’s recovery would be like President Reagan’s.

The WSJ compares the Obama and Romney job creation records.

From The American, James Pethokoukis assesses the impact of quantitative easing.

On The Daily Beast, Bruce Bartlett highlights the virtues of the Scandinavian tax system for its lower penalty on capital versus labor income:

In The American Spectator, Jeff Lord notes Bill Clinton’s policy ties to Ronald Reagan, in contrast with President Obama.

Thursday round up: Malpass on Greece; Lewis on the gold price; Tamny on Facebook.

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.

TGSN recounts the history of the Panic of 1907.

From International Liberty, Dan Mitchell examines the claim that President Obama is a fiscal conservative.

In TWS, Jeff Bell explains the failure of Third Way politics.

Tuesday items: Kadlec on Europe's tax hike failures; Benko on Rueff; Forbes on Ron Paul.

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.

Thursday update: Woodhill on growth vs. fairness; Rickards on gold and the IMF; Kudlow on Geithner and Bernanke.

From Forbes, Louis Woodhill argues for economic growth rather than fairness.

In US News, Currency Wars author James Rickards explains the hidden role of gold at the IMF.

From The WSJ, George Melloan highlights US Rep. Kevin Brady’s Sound Dollar Act.

On CNBC, Larry Kudlow critiques Tim Geithner’s political rhetoric and Ben Bernanke's refusal to raise inflation:



In The WSJ, Cato’s Dan Mitchell applauds Switzerland’s fiscal restraint law.

From Bloomberg, Caroline Baum examines the 2013 fiscal cliff.

The WSJ urges Mitt Romney to explain what he will do differntly than Presidents Obama and GW Bush, including on the dollar.

From First Trust, Brian Wesbury highlights Wednesday’s Fed policy statement.

In The WSJ, Stephen Moore reports the Senate’s Postal Service bailout.

On his website, Dilbert creator Scott Adams defends the rich.

The Sound Money Project features a video on inflation:



From Project Syndicate, Keynesian Stephen Roach defends China on trade and the yuan.

At Bloomberg, Jared Diamond notes Japan’s tremendous demographic challenges.

Tuesday items: Kadlec on Romer's tax findings; Benko on Laffer/Moore's new book; Tamny on unfairness.

From Forbes, Charles Kadlec highlights Obama economist Christina Romer’s scholarly writing on the negative impact of tax increases.

The WSJ notes 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 Today dredges up hoary misconceptions about the gold standard.

Weekend edition: The WSJ on the Buffett Rule; Heritage on Taxmageddon; Laffer on state tax competitiveness.

The WSJ argues 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 NYT reports 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.

Monday round up: Kadlec, Kudlow, Yergin and Wanniski on oil; Ferrara and Mitchell on the growth rate; Moore on the corporate tax rate.

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 Globe profiles anti-tax advocate Grover Norquist.

The Florida Times-Union reports local drug dealers using Tide detergent as currency.

In The NYT, Christina Romer argues marginal tax rates have limited impact on economic growth.

Tuesday round up: Klein compares Obama and Romney tax plans; Kudlow and Forbes on the President's budget; Melloan on the gold standard.

In The Washington Post, Ezra Klein compares tax rates under Obama vs. Romney. One smart observer writes, “Obama got to the right of Romney for the first 60 percent of income levels. Brilliant. And again shows how Romney's timidity and weakness on taxes is provocative.”



The Daily Beast reports anti-tax advocate Grover Norquist arguing that Mitt Romney is acceptable because he will sign conservative legislation.

In Forbes, Ralph Benko likens US Rep. Ron Paul (TX) to Thomas Jefferson.

From First Trust, Brian Wesbury argues the economic recovery is real.

At NRO, Larry Kudlow highlights the many tax increases in the President’s budget proposal.

On The Kudlow Report, Steve Forbes discusses the President’s tax plan:



In The American Spectator, George Melloan advocates the gold standard.

At United Liberty, Jeremy Kolassa assesses CPAC’s gold standard panel.

In The Economist, a confused columnist suggests gold is too volatile to serve as a monetary standard.

The NYT quizzically reports the rise of interest in gold-linked currency.

From US Rep. Walter Jones (NC), a chart on assets held by the US Federal Reserve:

At Salon, David Wolman cites Benn Steil making Robert Mundell’s case for a single world currency.

At RCM, John Tamny explains that on housing, the prudent bailout out the imprudent.

The WSJ roots Greece’s problems in its failure to go for economic growth.

On Kudlow, US Rep. Paul Ryan (WI) offers the Republican alternative to the President’s budget:




From Politico, Scott Paul of the Alliance for American Manufacturing calls for tough action to force China to appreciate its currency (as the US did to Japan in the late 1980s, resulting in long-term deflation and stagnation).

In The NYT, Bruce Bartlett analyzes income’s definition in tax policy.

BWR: Why Rick Santorum?

Courtesy of our friends at Bretton Woods Research.
--------------------------

Rick Santorum swept Colorado, Missouri and Minnesota yesterday because the Republican electorate is continuing to send Mitt Romney the message that he must improve his growth platform. With Newt Gingrich periodically stumbling against Romney, Santorum's tax plan is the next best thing. As we explained in early January, Santorum wants two personal income tax rates, 10% and 28%, a 17.5% corporate tax rate, a 12% capital gains tax rate and a complete elimination of the corporate tax for manufacturing companies.

According to Intrade, Mitt Romney's chances today of winning the GOP nomination are nearly 82%, almost double what they were in mid-December. But, importantly, as his chances of capturing the nomination have improved, President Obama's chances of being re-elected have improved during the same period from roughly 50% to 60%.

There is a glaring weakness in the Romney candidacy. He doesn't have the right model to create growth.

Thursday update: Rove on Romney; Dreher on the GOP candidates; Malpass on the market.

In The WSJ, Karl Rove urges Mitt Romney to focus more on big ideas.

At The American Conservative, Rod Dreher suggests Romney, Gingrich and Santorum are substantially similar to President George W. Bush, but omits dollar policy from his analysis.

On NRO, Larry Kudlow scorns the President’s focus on redistribution rather than wealth.

At International Liberty, Dan Mitchell compares the Reagan and Obama recoveries.

On The Kudlow Report, David Malpass sounds optimistic about the market:



MarketWatch profiles gold advocate James Grant.

In The WSJ, former Sen. Phil Gramm (TX) and Mike Solon compare the current recovery to the past.

From Bloomberg, Amity Shlaes argues lower tax rates can raise revenues.

AP features comedian Chris Rock arguing for higher taxes.



At Forbes, Louis Woodhill satirizes the President’s SOTU proposals.

The Economist reviews Bruce Bartlett’s new tax reform book.

Wednesday summary: Domitrovic on the Gold Commission; Romney discusses the flat tax and gold standard; Pethokoukis on tax fairness.

From Forbes, Brian Domitrovic provides the history behind Newt Gingrich’s Gold Commission.

The WSJ uses Mitt Romney’s tax return to argue for fundamental tax reform.

On NRO, Larry Kudlow reports Romney believes the President’s class warfare strategy is designed with him (Romney) in mind.

From Forbes, Steve Forbes advises Mitt Romney to come out with a strong pro-growth, pro-capitalism message.

On The Kudlow Report, Romney critiques Gingrich’s flat tax plan and suggests, oddly, that Congress could manipulate the dollar’s exchange rate under the gold standard:



At The American, James Pethokoukis responds to the President on tax fairness.

From PJ Media, David Goldman argues the true unemployment rate, about 1 in 4, guarantees a single term for President Obama.

At RCM, John Tamny suggests hedge fund success implies stock market weakness.

On Peter Schiff’s radio show, Steve Forbes critiques Romney on the China currency debate:




IBD explains Dodd-Frank’s highly negative effect on small and community banks.

CNSNews notes commodity price increases under President Obama.

At Barron’s, Pimco’s Bill Gross suggests the economy is pulled between deflationary and inflationary forces:




From The Hoover Institution, Richard Epstein critiques Massachusetts Senate candidate Elizabeth Warren’s economic proposals.

The NYT highlights the President’s tough talk on China.

Thursday summary: Blom and The NY Sun applaud Newt's gold commission; Mitchell, IBD and Woodhill on Romney; Moore on Paul.

In The NY Sun, Andresen Blom suggests Newt Gingrich has a crucial wedge issue in his gold commission.

Also in The NY Sun applauds Gingrich’s gold commission idea but recommends moving beyond the commission to outright advocacy.

The WSJ validates Gingrich’s food stamp critique of President Obama.

At NRO, Larry Kudlow wonders whether Gingrich can highlight growth ideas over his personal issues.

On The Kudlow Report, Steve Forbes discusses Gingrich’s candidacy:



IBD defends the tax rate Mitt Romney pays.

On International Liberty, Dan Mitchell rebuts criticism of Romney’s tax payments.

In Forbes, Louis Woodhill argues companies like Romney’s Bain Capital are the alternative to bankruptcies and bailouts.

On Fox Business News, Stephen Moore discusses Ron Paul’s call to eliminate the income tax:



The Economist suggests the US/China trade deficit won’t be improved by appreciating the yuan.

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.

Thursday items: Malpass on the rising dollar; Shlaes on austerity; Forbes on NR's opposition to Newt.

From Forbes, Chris Barth reports David Malpass argues the dollar should rise due to tighter money, not the falling euro.

In Bloomberg, Amity Shlaes challenges Paul Krugman on fiscal austerity.

A reader comments:
Amity Schlaes pens an austerity-can-lead-to-growth op-ed, dismissing Paul Krugman's call for more Keynesian spending, but commits a startling error:

...There is evidence that austerity did lead to growth in the past, and that it did not cause fascism. These examples may be less known, but they suggest that austerity can bring recovery faster than spending can.

A strong example in U.S. history is the recession of the early 1920s. Responding to a downturn, the federal government didn't spend; it cut itself in half. Recovery followed so rapidly few people even remember that recession.

Brian Domitrovic has written how there was virtual consensus between Presidents Wilson's and Harding's money men on reducing top marginal rates before the election, so how could Shlaes forget Mellon’s tax cutting agenda that kicked off the Roaring Twenties? The Revenue Act of 1921 brought the top marginal tax rate down to 58% in 1922 from 73%, and with subsequent reductions, Mellon was able to get that top tax rate down to 25% by 1925. The austerity of the 1920s did not take place without efforts to foster economic growth. In this, Shlaes was sloppy.

On NRO, Larry Kudlow reports Senate Minority Leader Mitch McConnell (KY) pushing for the Keystone Pipeline in exchange for the payroll tax cut.

On The Kudlow Report, Steve Forbes discusses National Review’s editorial opposing Newt Gingrich:



From Forbes, Louis Woodhill argues pro-growth policies explain Gingrich’s rise.

At The American, James Pethokoukis suggests Gingrich’s Iowa lead is softening.

In The American Spectator, Ben Stein predicts President Gingrich and Vice President Huntsman.

At The WSJ, Dan Henninger portrays Gingrich as Mitt Romney’s sparring partner, toughening the former governor up to debate President Obama.

On NRO, Elise Jordan sees Jon Huntsman failing to capitalize on recent opportunities.

At Forbes, Jerry Bowyer highlights the role of interest rates to functional economic and financial systems.

From First Trust, Brian Wesbury predicts unemployment will be down to 8% by Election Day.

On The WSJ, Steve Cortes argues the Chinese economic model won’t work in the long run:



In The WSJ, conservative Keynesian Martin Feldstein pans the Eurozone economic deal.

On C-SPAN, PIIE’s C. Fred Bergsten – Keynesian and key intellectual driver of the 1970s dollar devaluation and subsequent Great Inflation – argues more American jobs will come from rebalancing world trade by lowering the dollar’s exchange rate to a competitive level (around minute 13).