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 The WSJ, Alan Reynolds demolishes arguments for 70% tax rates on the rich (full text from Cato).
In The WSJ, Amar Bhide provides an excellent defense of the euro:
But here's the catch. Devaluation works its magic to the extent it doesn't trigger demands for wage hikes, even though a depreciating currency increases the price of imports and reduces the purchasing power of workers' incomes.
Now, individual employees might be susceptible to a money illusion and worry only about their nominal wages. But it isn't the demands of individual workers that make labor markets excessively rigid—it's unions and other such institutionalized players. Unions that won't negotiate pay cuts with employers are unlikely to allow devaluations to erode real wages through the back door. Indeed union contracts often contain protections against inflation....
Worse, devaluations clip the real incomes of those least able to afford the loss—the elderly who depend on their meager savings and pensions, low-wage employees who aren't unionized and lack valuable skills, and small businesses scraping along that don't get even a temporary boost to profit margins because they ply a purely local trade.
At Forbes, Brian Domitrovic explains the folly of investing in GM. In Human Events, John Hayward suggests a shift in the Left’s view of the Laffer Curve. On The Kudlow Report, US Rep. Ron Paul (TX) discusses the dollar and the economy:
At International Liberty, Dan Mitchell argues European austerity hasn’t been as severe as Paul Krugman suggests. The NY Sunrebuts Berkshire Hathaway’s Charles Munger on gold. In The Washington Times, Richard Rahn argues spending in Europe still increased during the recent debt crisis. From Alhambra Partners, Joe Calhoun sees some positive trends in the economy. On Fox Business News, Stephen Moore discusses state tax rates:
In The American Interest, Barry Eichengreen foresees declining use of the dollar in world commerce. From The WSJ, Justin Lahart suggests unemployment would be down to 7.1% without government spending cuts. At The NYT, Bruce Bartlett doubts rich people will relocate from the US if taxes go up.
From Forbes, Steve Forbes talks taxes and trade with President George W. Bush.
At Forbes, Louis Woodhill quotes Jude Wanniski to argue Obamacare must be repealed. The Washington Timesreports Mitt Romney leading the President on the economy. In The WSJ, Karl Rove urges Romney to counter the President’s class warfare with focus on growth. The Spectatorfeatures a symposium with Stephen Moore and US Rep. Paul Ryan (WI) on the budget and taxes:
In The WSJ, Dan Henninger parallels the President’s rhetoric with FDR’s in 1936. Reasonhighlights the President’s scapegoating of oil speculators. At TGSN, Ralph Benko recounts the history of the post-Civil War Legal Tender Cases. From National Review in 1978, Alan Reynolds and William Peterson promote the gold standard. Also from the NR archive, Bruce Bartlett argues for supply-side tax cuts.
The WSJdefends US Rep. Paul Ryan’s (WI) budget plan from the President’s strong attack.
On PBS, Dan Mitchell debates Ryan’s budget but focuses on spending restraint rather than economic growth:
At TGSN, Ralph Benko highlights the sound money writing of Romney advisor Glenn Hubbard. On GoldSeek, Scott Silva contrasts President Reagan’s economic record with President Obama’s. In The Boston Globe, Jeff Jacoby criticizes the US tax code. The Economist reports on Somalia’s bizarre currency situation. In The Star-Ledger (NJ), Alan Reynolds suggests the federal minimum wage has damaged low skill workers. From Bloomberg, Steve Forbes discusses the weak dollar’s impact on the economy:
The Chicago Tribunereports failure to pass Mississippi’s tough immigration reform.
American Rhetoric presents Calvin Coolidge’s inaugural speech (h/t: Amity Shlaes).
At Globe Asia, Steve Hanke rebuts China-trade hawks.
From Bloomberg, John Cochrane argues Europe needs growth rather than Keynesian deficit stimulus.
At The American, James Pethokoukis highlights academic studies showing tax rates substantially impact economic activity. On CNBC, Ron Paul (TX) pans US Rep. Paul Ryan’s (WI) budget for insufficient spending cuts:
At IBD, Alan Reynolds and Steven Slein examine the Buffett Rule’s likely impact on corporate dividends. The WSJnotes a scoring analysis showing the Buffett Rule would yield little revenue. At TGSN, Ralph Benko explains the monetary roots of the Panic of 1837. On Forbes, Louis Woodhill critiques the President’s recent energy speech. At Forbes, Jerry Bowyer analyzes the gold price’s recent decline. From Comedy Central, South Park satirizes the weak-dollar cash-for-gold market:
The NYTreports Britain cutting its top tax rate (minimally) while maintaining spending austerity.
The Washington City Papercalls supply-side economics a con.
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.
From Forbes, historian Brian Domitrovic notes Newt Gingrich’s role in advancing supply-side economics.
At The Huffington Post, Alan Reynolds denies Gingrich’s role in supply-side’s founding. In The NY Sun, Ira Stoll criticizes Gingrich for bashing investment banks and private equity firms. National Journalquotes Jeff Bell on the GOP presidential primary’s emerging establishment vs. conservative grassroots theme. On The Kudlow Report, Larry Kudlow interviews US Rep. Ron Paul on the Fed, the dollar and gold:
In The WSJ, James Freeman notes that Warren Buffett likely would avoid the Buffett Rule. On Forbes, John Tamny links global warming pessimism to belief in America’s inevitable decline. IBDexamines the Obama recovery’s abnormally slow pace. In The Washington Post, James Q. Wilson suggests income inequality is related to social factors such as education level and family structure. On Kudlow, David Goldman sounds moderately optimistic about US growth:
The WSJhighlights a World Bank report relating Europe’s slow growth to demographics and big government. From Cato, David Boaz refutes the claim that China caused the 2008 financial crisis.
From IBD, Alan Reynolds explains Mitt Romney’s tax return.
In The WSJ, David Malpass argues the Fed should listen to Ron Paul’s criticism. The WSJresponds to President Obama’s Buffett Rule would raise the capital gains tax to 1978 level. On The Kudlow Report, Newt Gingrich defends his support for President Reagan:
In The WSJ, Henry Nau explains the middle class shrank from 1980-2007 because more people became wealthy. From Bloomberg, Evan Schnidman and Daniel Nadler note the economy’s positive reaction in recent years to a weaker dollar. In The WSJ, Daniel Yergin suggests the new Thatcher bio-pic misses the pro-growth turnaround she led. At Fiscal Times, Bruce Bartlett says the flat tax will never fly.
Big news: The Weekly Standardreports Newt Gingrich advocates a gold commission:
The WSJargues Mitt Romney should use news of his 15% tax rate to argue for fundamental tax reform.
At Forbes, Brian Domitrovic explains the economic context of Romney’s work at Bain Capital.
On The Kudlow Report, James Pethokoukis discusses Gingrich’s rise in the polls:
At RCM, John Tamny suggests Ben Bernanke was right in 2006 for wanting the Federal Reserve to let the mortgage market unwind.
In The WSJ, Holman Jenkins examines the causes of the 2008-09 financial meltdown, but omits Robert Mundell’s claim that the rapid 30% dollar appreciation in summer 2008 was the central factor.
On The Daily Beast, David Frum defends the 15% capital gains rate.
Futureofcapitalism rebutsThe NYT on the capital gains tax rate.
On The Mike Rosen Show, Cato’s Alan Reynolds critiques Ronald McKinnon’s call for a wealth tax.
At IBD, Walter Williams notes the inequality of wealth creation as opposed to income.
From Fox News, David Pietrusza cites Calvin Coolidge on marginal tax rates:
If we had a tax whereby on the first working day the Government took 5 per cent of your wages, on the second day 10 per cent, on the third day 20 per cent, on the fourth day 30 per cent, on the fifth day 50 per cent, and on the sixth day 60 per cent, how many of you would continue to work on the last two days of the week?
From Alhambra Partner, Joe Calhoun worries at bullish sentiments.
At TGSN, Ralph Benko argues mismanagement of the gold standard led to the Great Depression.
On NRO, Jim Manzi considers how to cut marginal tax rates on the poor.
In The WSJ, actor Rick Moranis satirizes modern economic theories.
Thailand’s The Nationreports supply-side guru Robert Mundell arguing for a global currency.
In Forbes, Louis Woodhill debunks optimism about the latest unemployment report.
In The WSJ, Walter Williams and Stephen Moore argue for cutting government benefits to the rich, rather than raising taxes:
The much bigger fiscal drain from the wealthy is on the federal expenditure side of the budget ledger: tens of billions each year in grants, loans, subsidies, guarantees and benefits pocketed each year by wealthy Americans as individuals and firms. Any campaign to downsize big government will only succeed if the needed deep cuts in spending are deemed by voters as equitable. In an era of $1 trillion-plus deficits and a $15 trillion national debt, we would like to think that a national consensus could be reached to eliminate handouts to individuals and companies with net incomes above $1 million.
On The Kudlow Report, Stephen Moore discusses the NLRB’s decision to drop its case against Boeing:
At America Now with Andy Dean, Cato’s Alan Reynolds discusses his recent WSJ op-ed on the top 1%.
From The Atlas Sound Money Project, Nicolas Cachanosky defends the gold standard.
At The Council on Foreign Relations, Benn Steil refutes Brad Delong’s claim that the ECB will print its way out of the EU’s debt crisis.
On Activist Post, David Redick proposes gold to save the euro (h/t: Ralph Benko).
In Forbes, Ken Rapoza quotes Bretton Woods Research’s Vlad Signorelli on China’s lower inflation and economic weakness.
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.
