Art Laffer has an Op-Ed in the WSJ today that blames the length of the Great Depression on high taxes and currency devaluation. If he’s correct, Bernanke learned nothing from his years of studying the Depression. The tax increases of the Hoover and FDR administrations are well known and the effect obvious, but the role [...]
Richard Rahn of the Cato Institute has an article at the Washington Times called The Growing Debt Bomb which details the growing US government debt. His conclusion is not comforting:
What is particularly frightening is that neither political party has offered a serious plan to defuse the debt bomb. The Democrats are just piling up more [...]
Despite our neighbors’ extensive economic struggles across the pond, Europe seems to be the place to be, as 6 of the top 10 countries were atop the rankings in the World Economic Forum’s 2009-2010 edition of the Global Competitiveness Report. Switzerland managed to replace the United States atop the report, due to a weakening in the US financial markets and macroeconomic stability. (This [...]
Anthony Evans makes the case for radical free market reform in the Guardian:
1. Legalise insider trading. The regulators have failed spectacularly. They did not foresee the systemic risk created by excess credit creation and over-leveraging, and it would be naive to expect any single organisation to steward an entire industry. Demonising hedge funds and banning [...]
