Prohibition Revisited
Prohibition made it illegal for Americans to buy alcohol. It did not stop them from drinking.
Obama's Economic Ignorance
With 15 million workers unemployed and another 11 million underemployed, President Obama recently decided that the answer was to hit the road and throw some anti-rich red meat to some friendly stadium audiences. At a Labor Day rally in Milwaukee, Mr. Obama declared...The “Deleveraging” Deception
There is wide agreement among economists and the financial media that our lackluster economic performance stems from continued “deleveraging” among consumers and businesses. Although it is certainly true that after decades of overly speculative borrowing,...Castro and Obama
At least for a few moments last week, we had the strange spectacle of President Obama sounding more like a collectivist than Fidel Castro. With the federal payroll in the United States up by 200,000 positions and the private sector down by 7.8 million jobs since the...Japan Intervenes to Bail Out America.com
This week, after the Japanese yen had surged to a fifteen-year high against the US dollar, the Japanese government decided to intervene in the foreign exchange market. To great fanfare, the Bank of Japan initiated a vigorous campaign to buy US dollars, thereby...Does the Fed Ultimately Control Interest Rates?
In forecasting the consequences of current economic policy, many pundits are downplaying the risks associated with the surging national debt and the rapid expansion of marketable Treasury securities. Their comfort stems from the belief that a staggering debt...Don't Doubt the Double Dip
A few weeks ago Nouriel Roubini, widely regarded as one of the more pessimistic figures on Wall Street, made headlines by raising his forecasted likelihood of a “double dip recession” to a terrifying 40%. The vast majority of “mainstream”...Censorship Strengthens Islamists
The prospect of another semi-free country falling to Islam is in danger of happening. In the Philippines a bill that would criminalize the use of words like “Muslim” and “Islamic” to describe criminals has been filed by Sen. Ramon...Atlas Shrugged: Who Runs Taggart Transcontinental?
“That’s who runs Taggart Transcontinental,” said the engineer; the respect in his voice was genuine. “That’s the Vice-President in Charge of Operation.”
