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Written by Amity Shlaes
- Real Clear Markets |
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May brings an update on the development by the federal government of new coins in its $1 presidential series, begun a few years ago with George Washington. The U.S. Commission of Fine Arts, which oversees coin design, just announced it has chosen among a series of finalists' images portraits of Presidents Warren Harding, Calvin Coolidge, Herbert Hoover, and Franklin Roosevelt. The selected portrait of the thirtieth president, Coolidge, looks handsome but not happy. This Coolidge emanates concern.
The Coolidge concern, Read more |
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Written by John Tamny
- Real Clear Markets |
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Two years ago this April, I wrote that $1500 gold signaled a recession. The article argued that readers should forget about the near worthless calculation that is GDP, and instead consider what a rising gold price meant for the economy.
Rising gold on its face points to a falling dollar, and when the dollar declines in value investment in a relative sense migrates away from the stock and bond income streams that foster the creation of wealth that doesn't yet exist, and into the hard inflation hedges (think land, Read more |
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Written by Rich Lowrie
- Real Clear Markets |
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If the great football coach Vince Lombardi was alive today, he could modify his famous speech, "What it Takes to Be Number One," to address our fiscal problems:
"Growth is not a sometime thing. Growth is an all-time thing. You don't grow once in a while, you grow all the time. There is no room for stagnation. Stagnation is a game for losers, played by losers. "
When Republicans don't stand for growth, they don't stand a chance. If authentic growth is not an option, the electorate chooses redistribution over Read more |
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Written by Rich Danker
- Real Clear Markets |
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For more than five years the Federal Reserve has conducted an unprecedented monetary expansion. Over this stretch the Fed's balance sheet has tripled. Its key interest rate has been zero since December 2008, forcing down rates across the credit spectrum on everything from mortgages to municipal bonds. Various programs and objectives have been used to keep the ride going. What was conceived of as an emergency measure to provide liquidity to the banking system has morphed into a stimulus program that the Fed says is Read more |
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Written by John Tamny
- Real Clear Markets |
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The recent announcement that the Republican Party would explore commodity-defined money through a repeat of the '81-‘82 Gold Commission was welcome news. Figure the Party's modern credibility largely remains a function of Ronald Reagan, and while Reagan was most known for his tax cutting prowess, quite unlike modern Republicans who can't seem to move beyond taxes, Reagan understood that "No great nation in history has survived fiat money, money that did not have precious metal backing."
Reagan's remark about paper Read more |
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