The Reagan revolution might never have occurred without the leadership of Jack Kemp. His co-sponsorship of the Kemp-Roth capital-gains tax cut in 1978 opened the door for Reagan’s supply-side tax-cut ...
Stimulus that Stimulates
On September 18, in an article entitled “The Financial Sun Will Shine Again,” I made some suggestions about resolving our financial and economic crises. At that time the Dow Jones ...
The Financial Sun Will Shine Again
A global financial panic arrived this week, sparked by the effective collapse of liquidity at major brokerage firms. As the crisis touches all corners of the globe, politicians are reflexively ...
Our Congressional Energy Mess
Everyone complains about high gas prices, yet viable solutions to today’s energy crisis get tabled by the very people who do the complaining. Certain Californians come to mind — folks ...
The U.S. Energy Catastrophe
I suffered a minor heart attack when I saw the price of my latest fill up: $90. Gas is just under $4 a gallon here in South Carolina, and like ...
Rebalancers Are Rocking the Boat
Just over a week ago, on April Fools’ Day, the Dow Jones Industrial Average rocketed by almost 400 points — and it was no joke. The rally was solid and ...
Auction Action
Maybe it’s time to revise the textbooks on money and banking. For decades the Federal Reserve has implemented monetary policy by way of three primary tools: open market operations, the ...
Who’s Flying This Helicopter Anyway?
Wall Street pundits are quick to criticize the Federal Reserve for being either too “tight” or too “easy.” These terms refer to a Fed system that attempts to increase or ...
Will the Real Fiscal Stimulus Please Stand Up?
Last week was one of those times when things aren’t what they seem to be.
Since I’m a heavy investor in foreign markets, I experienced my own “black Monday” when non-U.S. ...
The Fiscal Policy Hat Trick
Instead of opening 2008 with the traditional boom, equity markets plunged, with many “economy” stocks leading the way down. A few wayward economic statistics kept the bears from going into ...