OP-ED: Obama as Demoralizer-in-Chief

So just when everyone had concluded the Chris Christie matter — saying, “Great speech at the Reagan Library, but he’s not gonna run for president” — the New York Post comes along with a story that says the New Jersey governor is seriously considering a 2012 run. Apparently the Reagan Library experience had a big impact on Christie, and others. He’s now being urged to go for it by Nancy Reagan, Henry Kissinger,...

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OP-ED: A Twisted Outlook

Stocks collapsed roughly 700 points over two days after the Federal Reserve launched its “Operation Twist.” The market correctly perceives that the central bank’s plan to swap $400 billion of short-term notes for long-term bonds adds no new reserves to the financial system. So it wasn’t QE3, that’s for sure. No stimulus. In fact, with the Treasury yield curve flattening, the Fed’s sterilized asset...

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KUDLOW: Mike Bloomberg’s Irresponsible Riot Tactic

New York City Mayor Mike Bloomberg, in a radio interview on Friday, warned that high unemployment could lead to widespread rioting. That’s right. He actually said that. At a time when European cities have suffered massively from hooliganism, and at a time when U.S. towns like Philadelphia and Kansas City have suffered huge human and commercial tolls from so-called flash riots. For Bloomberg to come out with this statement is...

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OP-ED: Tiny, Targeted and Temporary

Who would have really expected a 300-point stock market plunge on the day after President Obama’s so-called jobs speech? Yes, worries over new fears of a Greek default ripped through the markets on Friday. As did fears of an al-Qaida bombing plot on the 10th anniversary of 9/11. But you can’t help but think that at least some of the stock plunge is a signal of no economic confidence in Obama’s plan. And for that...

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OP-ED: The Deflationary M2 Explosion

Amidst the financial flight-wave to safety, with stocks plunging, gold soaring and Treasury bond rates collapsing — and all the European banking fears that go with that — there’s an important sub-theme developing: An almost-forgotten monetary indicator, M2, which is mostly cash, demand-deposit checking accounts, savings deposits and retail money-market funds, has been soaring. According to the St. Louis Fed, M2 is up 24.2...

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