The Federal Reserve has been on a media campaign to sell its monetary policy to main street, but as the Wall Street Journal noted yesterday it hasn’t gone smoothly. Frankly, I have to wonder how the Fed will spin this mornings news about the surge in wholesale prices, which were lead by the largest jump […]
Arthur Laffer: Get Ready for Inflation and Higher Interest Rates
If you haven’t read economist Arthur Laffer’s Op Ed in today’s Wall Street Journal you should. Mr. Laffer explains how the Federal Reserves unprecedented expansion of the money supply could lead to rising inflation and interest rates that would make the ’70s look benign: Rahm Emanuel was only giving voice to widespread political wisdom when […]
Bernanke’s Deficit Warning
There’s been a fair bit of buzz about Federal Reserve Chairman Ben Bernanke’s remarks about the need for deficit reduction during his testimony before Congress yesterday. Many commentators are interpreting Chairman Bernanke’s as bad news for Obamanomics and are arguing that deficit fears will force him to scale back his spending agenda. I disagree. I […]
Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government?
Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government? It’s question that needs to be answered… From reading this CNSNews.com piece it would seem at least a few “healthy” banks were forced into surrendering ownership stakes to the government: Last October, then-Treasury Secretary Henry Paulson ordered nine banks that the Treasury Department described […]
Dick Armey: Bush Plan to Buy Bank Stocks Should Face Constitutional Challenge
Via CNSNews.com: Former House Majority Leader Dick Armey (R-Texas) said that the Bush administration’s plan to buy $250 billion in stock in U.S. banks should be challenged in federal court as unconstitutional. “I think that it is subject to a serious constitutional challenge,” Armey said in a conference call with reporters on Tuesday. “It is […]
Ouch… Someone’s Not Happy
Someone’s not happy about the Bush/Paulson/Bernanky bailout plan. H/T: Kathryn Jean Lopez.
A Failure of Leadership
What I said yesterday about McCain and leadership… Scratch that. My first reaction to John McCain’s announcement that he was suspending his campaign and returning Washington to help craft a financial bailout plan was positive. I though it was bold move that could pay huge dividends down the road. This morning, after rolling it around […]