Tom Nugent joins Victor Canto in praising the appointment of Ben Bernanke to head the Federal Reserve: Bernanke, like Greenspan and Volcker, will take a price-rule approach … Since 1982, some supply-siders have believed that the Fed shifted from a quantity rule for monetary policy to a price rule. In other words, the Fed gave […]
Kash provided a few details as to the news about real GDP growth during the third quarter. William Polley compares this news to the news for last quarter noting what we said back then: Final sales of domestic product grew at a 5.8% annualized rate with the difference between growth in sales and the growth […]
This morning the BEA released its very first stab at estimating economic growth during the summer of 2005 (July, August, and September). From the news release: Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.8 […]
Kash has motivated me to do a little Google searching on something called “starve the beast” theory. How Tax Cuts Feed the Beast by Daniel Shaviro is a neat title but does not get to the point raised by Daniel Lambo. Shaviro does note: On the campaign trail, President Bush is busy telling voters that […]
I can’t believe that a someone who writes things like the garbage that Donald Lambro offered up today can still claim to be a “nationally syndicated columnist”: Mr. Riedl and the GOP’s other critics are right to keep the heat on Congress to curb spending, but in the end — as Mr. Bush has shown […]
Max Sawicky supported the nomination of Harriet Miers for reasons he well expressed. I was not convinced. However, I highly endorse Max’s latest: *No more “up or down vote” claptrap from the wingnuts. They advocated her pre-emptive withdrawal, so there is no onus against a committee preventing any appointment from coming to the Senate floor, […]
CNN is reporting that Miers is withdrawing her nomination. This is turning into quite a week for news… Kash
Today saw no public announcements of indictments but leave it to the Corner to be attacking the victim again. But the best one has to be clueless Jonah Goldberg: Hasn’t Cliff been making the case that Wilson outed his wife to David Corn? Isn’t that a thin reed of hope? (1) Cliff May is a […]
We have heard numerous NRO pundits hammer the FED for not following some sort of price-rule for monetary policy. Their version of a price-rule is often a commodity price-rule as in some sort of weird devotion to the gold standard, which I always thought was driven by the fact that Victor Canto was the only […]
There has been a lot of discussion over the past two days about Ben Bernanke’s inflation-fighting credentials, as PGL so aptly summarized in the previous post. Interestingly, the past two days have also seen some significant activity in bond markets. For example, as of 3pm today (EDT) Marketwatch reports that short-term interest rates have leapt […]