Wednesday round up: Stoll, Bolduc and Costa on Gingrich; Jenkins on Romney; CNN reports the euro falling below $1.30.

From The NY Sun, Ira Stoll suggests Newt Gingrich has surged in part because his tax policies are superior to Mitt Romney’s.

In The WSJ, Holman Jenkins Jr. argues the nation needs a problem solver like Romney.

At NRO, Brian Bolduc reports that Gingrich saw supply-side economics' political potential early, but wasn’t deeply interested in the economic details.

On The Kudlow Report, Robert Costa discusses US Rep. Paul Ryan's (WI) critique of Gingrich for not edorsing unpopular entitlement reforms:



CNN notes the euro falling below $1.30.

The WSJ highlights the rise of regulation under the current administration.

At Forbes, Bill Flax argues pending tax increases and regulation are strangling business.

In IBD, Jim Gilmore proposes interesting pro-growth ideas but omits dollar stability.

On CNBC, John Carney cites Jude Wanniski’s view that budget deficits should be considered relative to the total size of the economy.

From First Trust, Brian Wesbury and Robert Stein see the economy improving and doubt the Fed will enact QE3.

On CNN, Stephen Moore argues unemployment benefits go on too long:



At The Freeman, the late great Julian Simon supports immigration.

In The Washington Post, Charles Lane highlights conservative Keynesian Martin Feldstein’s long-standing opposition to the euro.

From the archive, Feldstein advocates dollar “competitiveness” via a lower exchange rate.

Wednesday round up: Tamny on Operation Twist; Reynolds says Marx would oppose Keynesian spending; Pethokoukis, Limbaugh, and O'Grady discuss Christie.

From RCM, John Tamny explains that the Fed’s Operation Twist doesn’t change the facts of production.

At The Daily Caller, Alan Reynolds notes Karl Marx opposed Keynesian-style stimulus.

In The Intercollegiate Review, Lew Lehrman outlines the problems caused by the floating dollar.

On The Kudlow Report, James Pethokoukis and Stephen Moore discuss Gov. Chris Christie (NJ) and Herman Cain:

 

In The WSJ, Charles Schwab advocates dropping tax hikes and government spending stimulus in favor of eliminating “all hurdles that create disincentives for investment in business.”

At Cato, Steve Hanke suggests Basel III’s higher capital/asset ratios may cause another market crash.

From First Trust, Brian Wesbury and Robert Stein argue gold’s sharp fall indicates tighter monetary policy and is good for the economy.

The WSJ reports US Rep. Paul Ryan’s (WI) new health care reform proposal to replace Obamacare.

From The WSJ, Mary Anastasia O’Grady says Chris Christie’s big speech last night was reminiscent of Reagan:

 

On his radio show, Rush Limbaugh expresses skepticism of Christie, saying he hears John McCain in some of his comments.

From NPR's Marketplace, David Frum disses gold and calls for more quantitative easing. His blog features several negative commentary on gold.

Wednesday round up: Lehrman on the US/China currency link; Hutchison rebuts Keynesianism; Kadlec rebuts Buffett.

From The American Spectator, Lew Lehrman explains how the dollar reserve-currency system has turned China into a US colony and fostered debt and inflation (h/t: TGSN).

At Asia Times, Martin Hutchison provides an important rebuttal of Keynesian spending stimulus.

On Forbes, Charles Kadlec explains that soak-the-rich tax policy hurts the middle and lower class.

From the archives, Jude Wanniski discusses the media and supply-side economics:




In The WSJ, Ernest S. Christian and Gary A. Robbins critique the Value Added Tax as a path to bigger government.

At The American Spectator, Peter Ferrara sees inflation hastening the economy’s spiral into crisis.

From First Trust, Brian Wesbury and Robert Stein argue the European crisis will not damage the US significantly.

In The Washington Times, Richard Rahn advocates cost-benefit analysis of regulations.

From Asia Times, Davild Goldman suggests China be allowed to purchase 49% of Bank of America.

At The National Interest, Barry Eichengreen critiques the arguments for a gold standard (h/t: Bruce Bartlett).

Wednesday summary: Rick Perry's Fed comments continue to garner attention; Salsman provides a history of gold; The WSJ notes the impact of higher taxes in Maryland.

RCP features Rick Perry continuing to critique the Fed.

Politico notes former Bush Administration officials critiquing Perry.

At Yahoo Finance, David Stockman endorses Rick Perry’s Federal Reserve criticism:

Reuters reports Michelle Bachmann joining the anti-Bernanke fray.

At Forbes, Richard Salsman provides an interesting history of the gold standard.

On First Trust, Brian Wesbury and Robert Stein suggest inflation is rising.

From The Kudlow Report, Brian Wesbury and Don Luskin debate inflation:




On RT America, Lew Rockwell discusses the Nixon Shock.

From 1971, Alan Reynolds blasts Nixon's price controls.

CNBC’s Squawk Box Europe features a good discussion of the gold standard:




The WSJ responds to Warren Buffett’s tax increase advocacy.

In The Washington Post, Jennifer Rubin reports Bill Bennett supports US Rep. Paul Ryan (WI) running for president.

The WSJ notes the decline of wealthy tax filers following last year’s soak-the-rich tax hikes in Maryland:

One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.

From 1979, Ronald Reagan announces his campaign for president (h/t: James Pethokoukis):




A new website promotes the Swiss gold franc.

At COAL, Paul Krugman notes bond vigilantes are only going after countries without their own currencies.

Wednesday summary: The gold/oil ratio suggests a correction; The WSJ opposes QE3; Jenkins advocates breaking up the eurozone.

Nasdaq reports gold passed $1,800 today, while oil hit $82, a 21:1 ratio. This divergence from the historical 15:1 relationship suggests a substantial correction one way or the other. Assuming a dollar upswing, gold would need to fall to near $1,200 to reestablish the normal relationship, reigniting the deflationary concerns emanating from the euro/dollar exchange rate foreseen by supply-side guru Robert Mundell. Fear of a sharp dollar rise may explain the market’s positive response yesterday to Goldman-Sachs’ report that Fed Chairman Bernanke was preparing a third round of quantitative easing. When Reuters clarified this morning that the report was speculation rather than inside information, markets tanked. (On this last point, hat tip to Rush Limbaugh.)

The WSJ opposes QE3 as positive wealth effects likely will be offset by negative income effects due to higher commodity prices.

On The Kudlow Report, David Malpass analyzes the health of banks and the economy:




In The Telegraph (UK), Garry White notes the August 15 anniversary of the Nixon dollar shock.

At TGSN, Kathleen Packard reports on President Nixon's decision to close the gold window 40-years ago. (Continued here, here and here.)

At an NRO symposium on the debt downgrade, former Kemp staffer John Mueller suggests demographics caused the market to peak a decade ago and that debt and currency issues will be solved by a return to the gold standard.

In The WSJ, Holman Jenkins, Jr. advises Europe’s solvent nations to leave the eurozone.

The euro was a noble idea—actually two noble ideas, one of which made sense: that a common currency might be a force for competitive adjustment across Europe. Alas the noble idea that captivated Europe's elites and was sold to the man in the street was a different one: The euro would solve "the German problem," never mind that "the German problem" had already been solved by the invention of nuclear weapons.

Hans-Olaf Henkel, as reputable a German business spokesman as you can find, a former head of IBM Germany, a former leader of his country's main business federation, once fervently supported the euro but now calls on Germany and its solvent neighbors to exit the euro system in favor of a new currency (a Deutsche mark in all but name).

In The WSJ, former Fed Governor Kevin Warsh and former Gov. Jeb Bush (TX) advocate a new grand strategy focused on long-run growth, but omit currency reform from their analysis.

From First Trust, Brian Wesbury and Robert Stein see reason for optimism on the economy.

At Forbes, CEI's Wayne Crews argues the logic of Say’s Law refutes Keynesian demand-side analysis.

On Squawk Box, US Rep. Ron Paul (TX) predicts the end of the dollar standard and links currency to violence in England, protests in Israel, and revolutions in the Arab world:




The WSJ suggests hooliganism and weak policing, not commodity prices and economic austerity, caused the British riots.

From Tax Notes, Bruce Bartlett examines revenues lost from the Reagan tax cuts (click the download box).

At Yahoo Finance, Nobel Laureate Joseph Stiglitz promotes more Keynesian spending stimulus: