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John Tamny
John Tamny is editor of RealClearMarkets, a senior economic adviser to H.C. Wainwright Economics, and a senior economic adviser to Toreador Research and Trading (www.trtadvisors.com). He can be reached at jtamny@realclearmarkets.com.
Put simply, government can take from us in two ways: first by taxing our income, and second through the debasement of the money we earn. While marginal tax rates fell...
Greenspan’s critics conclude to varying degrees that his decision to reduce the Fed funds target to 1 percent, in 2003, where it remained for a year, was the cause of...
Though the oil “shocks” that followed are to this day described in establishment economic quarters as a function of OPEC’s largely symbolic "embargo," the real...
In McCain’s defense, it’s certainly true that heavy spending is an economic retardant. This is so for government taking earned income that could be saved and...
The mortgage-interest deduction harms our economy in many ways. For one, it constitutes relief for one segment of society at the expense of those who choose not to own...
Commenting on executive compensation to Reuter’s on Monday, Holtz-Eakin declaimed that, "Job No. 1 of the president is to use the bully pulpit to shine a light on...
Undrafted out of high school and cut from the 1988 U.S. Olympic baseball team, future Hall of Fame baseball player Frank Thomas ultimately got called up by the Chicago...
Upon reaching the Oval Office, the new president’s first economic program meant to reverse an economic slowdown was not marginal tax rate cuts, but $80 billion in tax...
To support the new regulatory mindset is to assume that economically-free countries, as opposed to those centrally planned, are frequently burdened with sclerotic growth...
All three candidates seem legitimately concerned about the poor, but is eradicating poverty in what is for the most part an economically free country a truly...
Not mentioned was that any perceived trade gains achieved through a weak dollar would be wholly illusory given that increased nominal profits would be wiped out by the...
We saw this in the late ‘90s when the Fed’s failure to accommodate the capital gains cuts led to what many considered a deflationary dollar. As the dollar’s value...
Indeed, if specific locales or regions were truly weakened by high levels of pay, Silicon Valley and New York City would be ghost towns. But as evidenced by the high...
Americans have suffered an impressive devaluation of the dollar since 2001; one that has succeeded in eroding the value of their savings and investments. To hedge...
Ben Bernanke of course replaced Alan Greenspan at the Fed, and Greenspan cited Burns as one of his mentors in his autobiography, The Age of Turbulence. Like Burns,...
The above is interesting on two levels. First off, dollar mismanagement by our own federal minders was the likely miscreant when we consider investment distortions that...
Thanks to the Keynesian shape of the above policy, not to mention the failure of similar policies to resurrect post-World War II economies, the ideas of John Maynard...
The above helps the reader to understand the unimaginable poverty that would result from a life of economic isolation. Absent the cooperation he describes, rather than...
In England, even though the pound has risen 37 percent against the dollar since 2001, the latest government inflation figures from January show that producer prices rose...
Looked at mechanically, some argue that “home bias” explains commodity currency strength. Though commodities are priced in dollars, when the dollar is weak...
Though Reagan spoke confidently of renewed economic optimism that would result from tax cuts, Volcker’s countenance was very dark, with frequent pronunciations about...
To the trade-deficit worriers in our midst, the individual freedom we’re all afforded to purchase what we want while ignoring country origin foretells a dark future...
Two years later stock markets and the economy are as mentioned uncertain, and contrary to assumptions from the past suggesting he was open to classical ideas, his public...
Instead, capitalism is better than kind for engendering a form of ruthless benevolence whereby capital is constantly being directed away from the businesses and...
To witness the policy crack-up in Washington without any historical perspective is to assume the last thirty years did not happen; thirty years in which Keynesianism was...
Owing to what Brooks considers a changing Republican electorate, policies must shift given his belief that, “The entrepreneur is no longer king.” Instead, with...
Beyond the perhaps understandable displeasure some have with government funds moving into private industry, the principle fear when it comes to Asian and Middle Eastern...
Some would point to a hidden economic benefit relating to the theft, in that the neighbor, $500 poorer, might purchase enhanced home security to avoid future break-ins. ...
The problem here is that countries do not for the most part engage in trade. Individuals trade with other individuals, and once that reality is considered, the very...
For evidence of this, we can look to changes in the gold price itself in dollars, British pounds and euros since 2001. Many have suggested that Chinese and Indian...
Instead of letting markets tackle what remains a small problem, Paulson has carved out what he deems “an appropriate role for government” to bring the private sector...
Blinder argues that electronic innovations and the influx of Russians, Chinese and Indians into the worldwide labor force will lead to job destruction stateside, not to...
Notably, the benefits didn’t end there. When Page and Brin founded Google, Stanford’s flush endowment, one funded largely by donations from its graduates, stepped...
Rand of course believed in the wisdom of the individual to act in his or her self-interest in ways that ultimately improved the lot of everyone, while Smith (in...