Texas GOP Vote

Take note of the Atlantic's cover:

It’s the old something-for-nothing analysis: by buying stuff with money conjured out of thin air, by creating “liquidity” ex nihilo, disaster was averted. Financial disasters are not caused by real imbalances, real capital misallocations, etc. Nope. They’re caused by the lack of a robust central bank that can summon bread from stones. (For a rather more realistic analysis, see David Stockman.)

Note also on the cover: Harvard left-liberal Michael Sandel on “Our Market Obsession.” It’s an obsession, I tell you. Some 85,000 pages added to the Code of Federal Regulations every year, labor markets a minefield of litigation and intervention,

Governor Perry announced his intention to run for the Republican nomination for president on Saturday, August 13, 2012 in Charleston, South Carolina. His announcement was hailed as the start of what was to be an immensely successful campaign for the nomination and subsequently his election as President of the United States. Exactly two months later, most political observers would agree that Perry’s campaign has sunk dramatically, and many pundits, if not most,

Earlier I posted what I had responded to a friend in another state’s inquiry about Texas Governor Rick Perry. But I left out some important things that obviously become more relevant as scrutiny of Perry increases and Democrats will highlight every possible negative, as they did Perry’s statement about it being “near treasonous” if Fed Chair Ben Bernanke should pursue another round of dramatically increasing

The rally cry for Bill Clinton's first Presidential campaign was, “It’s the economy, stupid!” Conventional wisdom is that when voters decide who will be the next President, it is the economy that decides. For Republicans, the key to winning the 2012 elections begins with winning the argument, what kind of America do we want to live in?

The reality is that for the past two years, what recovery that has occurred is due to the Federal Reserve easy money policy,

I was well into another post when I got an email from someone complaining of The Fed and the greedy rich. Yes, this is a bit of a unique character. But, I edited out some personal references and submitted my response:

It’s probably true that had The Fed not acted to keep interest rates low and buy American Treasuries, there might have been an even sharper fall in the American economy and stock market.

Regardless of what one thinks of Ron Paul, he does ask questions that need answers; how does one determine the value of currency? What is the duty of the Federal Reserve, or a better question, what should the duty of the Reserve be? Since the mid 70’s, the Federal Reserve has been given two jobs, promote currency stability and full employment.

CONOOC, China’s national oil company, recently announced an agreement with Chesapeake Energy Corporation that would give the Chinese a 33 percent share in a new drilling project set to start soon in southwest Texas. The deal reportedly will cost CONOOC more than $2 billion and is just one of a string of purchases by the Chinese who recently have gone on an international buying spree. Long known for accumulating a surplus of U.S.   Read more »

Recent upward revisions to the U.S. Gross Domestic Product in the fourth quarter of 2009 have drawn skepticism from many who still point to dragging unemployment rates, reduced consumer demand, and still-declining home values. Paul Craig Roberts, a former congressional staffer and key economic policy advisor to President Reagan, is one of those skeptics:

Happy news! The government has come up with a 5.9 percent GDP growth rate in the fourth quarter of 2009. The recession is over.

In late January, the U.S. Senate voted to raise the United States’ debt ceiling to $14.3 trillion, or $45,000 for every man, woman, and child living in America. Our massive federal deficit levels should send up warning flares to all who are interested in the short- and long-term health of our nation’s economy.   Read more »