A Crisis is a Terrible Thing for a Politician to Waste
Everyone is talking about how much money the government is spending, but very little attention is being paid to where they are spending it or what they are buying with it. The government is putting money into banks, even when the banks don’t want it, in hopes...Castro’s Cuba at Fifty: No Freedom, No Fish
I was in Hollywood, Florida, on January 8, the 50th anniversary of Fidel Castro’s triumphant arrival in Havana after shooting his way to power and ousting the U.S.-backed dictator Fulgencio Batista. The morning newspaper at our hotel reported that Fidel Castro...The Real Problem With Tim Geithner for Treasury
Tim Geithner is an awful choice for Treasury secretary, but not for the reasons other objectors are suggesting.
Lured To Disaster by “Affordable Housing”
Behind the housing boom and bust was one of those alluring but undefined phrases that are so popular in politics– “affordable housing.” It is hard for me to know specifically what politicians are talking about when they use this phrase. But then...Political Speeches
If making speeches is one of the tests of a President of the United States, then Barack Obama has passed his first test with flying colors. He has understood the varied constituencies, and the various hopes and fears he had to address. He said the kinds of things that...Congress’ Financial Mess
Today’s housing mess can be laid directly at the feet of Congress and the White House.
Israel vs. Hamas: Pretty Talk and Ugly Realities
No phrase represents more of a triumph of hope over experience than the phrase “Middle East peace process.” A close second might be the once-fashionable notion that Israel should “trade land for peace.” Since everybody seems to be criticizing...Falling Prices Are the Antidote to Deflation
A disastrous economic confusion is the belief that falling prices constitute deflation and thus must be feared and, if possible, prevented.
