Today’s Brew 10-6-14

Ralph Benko for Forbes.com:

The Hidden Key 2014 Election: Kevin Brady Jolts Paul Ryan

Also, we mentioned George Will’s positive article about Jeff Bell that appeared in the Pittsburgh Tribune-Review this past Sunday, well that same article appeared in Monday’s New York Post.

George Will Jeff Bell New York Post

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Today’s Brew 10-5-14

As we mentioned in yesterday’s brew, George F. Will has a great column this week about Jeff Bell in New Jersey. Well, this morning the Pittsburgh Tribune-Review gave the Will piece the full back page of its opinion section. See for yourself.

George Will Jeff Bell Pittsburgh

If it’s too tiny to read, you can read the original online.

Today’s Brew 10-4-14

Jeff Bell was on Larry Kudlow’s radio show this morning. Listen to the entire interview here.

Also, George F. Will talks about Jeff Bell and his Senate campaign in his latest column.

A Bell-ringer in New Jersey

Every 36 years, it seems, Jeff Bell disturbs New Jersey’s political order. In 1978, as a 34-year-old apostle of supply-side economics and a harbinger of the Reagan Revolution, he stunned the keepers of the conventional wisdom by defeating a four-term senator, Clifford Case, in the Republican primary. Bell, a Columbia University graduate who fought in Vietnam, lost to Bill Bradley in the 1978 general election, but in 1982 he went to Washington to help implement President Reagan’s economic policies that produced five quarters of above 7 percent growth and six years averaging 4.6 percent.

Today’s Brew 10-2-14

The Wall Street Journal takes a look at Jeff Bell’s campaign for the US Senate in New Jersey.

Jeff Bell Takes on Cory Booker, and the Fed

Republican Senate Hopeful Says Easy-Money Policies Have Led to Budget Deficits

 Jeff Bell WSJ 10-2-14

 

Also, Larry Kudlow writes about the damage continually being done the Kennedy name in the Investor’s Business Daily:

RFK JR.’S Unhinged Attack On The Kochs Besmirches The Kennedy Name

Larry Kudlow IBD 10-2-14

Today’s Brew 10-1-14

Dan Mitchell writes on his blog:

The Rahn Curve, the Laffer Curve, and Walter Williams

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From the UK, good news for supply-siders:

Five reasons why the Tories tax cut pledge is great news

At last, David Cameron is being much bolder on tax

Here are five reasons why today’s tax cuts should be embraced enthusiastically.

1. They show that the Tories are re-embracing supply-side economics and the lessons they had originally learnt in the 1970s and 1980s but then appeared to forget

These tax cuts will boost people’s incentives to work and save; by allowing folk to keep more of their own money, they create a closer connection between effort and reward, something which is at once ethically sensible and economically efficient. George Osborne had previously shown that he believed this with corporation tax – he has slashed rates to improve investment and competitiveness – but had sent mixed messages on other taxes, wrongly hiking capital gains tax, for example. Today’s announcement confirms that the Tories are once again a pro-market party. Sure, the actual extent of the cuts is not huge, and they will take years to kick in. But they will nevertheless be worth an estimated £7.2bn a year by 2020. This is an important and welcome day in British politics. Supply-side economics are back, not a minute too late.

Today’s Brew 9-30-14

Ralph Benko continues his previous writing for Forbes.com:

The Rise And Fall And Rise And Fall Of King Dollar, Part 2

There appear to be but two technically plausible ways of getting there.  One is Nobel economics laureate Robert Mundell’s proposal of a world currency.  The other, of course, represents a sort of “reversion to the mean.” Restore a 21st century international gold standard.

While the gold standard is very unfashionable it by no means is absurd. Then-World Bank Group president Robert Zoellick, in 2010, was dead on when he observed in an FT column that “Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.”  About a year later, the Bank of England issued a startling but meticulous white paper demonstrating that the “Federal Reserve Note standard” materially has underperformed, in every area considered, both the Bretton Woods gold-exchange standard and the classical gold standard itself.

Today’s Brew 9-29-14

Ralph Benko for Forbes.com:

The Rise And Fall And Rise And Fall Of King Dollar, Part 1

Keynes expressed wariness of the risk of currency depreciation (better known as inflation). Sure enough, eventually the Federal Reserve indeed became “overwhelmed by the impetuosity of a cheap money campaign.”  The Fed cheapened its product — Federal Reserve Notes — by 85% since 1971 (and by about 95% since the Fed’s inception).

A dollar today is worth a 1913 nickel and a 1971 nickel and dime.  This gives a whole new meaning to the phrase “nickeled and dimed to death.”

Cheapening of money is very bad for business.  It is really, really, terrible for labor.  Ron Paul, call your office: Keynes proved quite right to be dubious about the Fed.

Why do so few of the economists who exalt Keynes share his tough-mindedness toward the Fed?  Why do so few grasp the irony of their mesmerized adulation of an institution with such a mediocre (and sometimes catastrophic) track record? Many acorns have fallen far from the tree.

One of the factors in play involves one of the standard tropes of mercantilism, to which Kudlow and Moore allude: the intentional depreciation of a national currency to gain unfair trade advantage.  This is what classically was called a “beggar-thy-neighbor” policy.  The neighbor, in this instance, is America. Forbes Media chairman, and Editor-in-Chief, Steve Forbes, and Forbes.com columnist Nathan Lewis, both gold standard advocates, are zealous critics of mercantilism (as is this columnist).

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Also, in the world of the delusional, The Krug was given his box of crayons again today and the NYT is running an op-ed today where Krugmanomics are on full display.

Message to The Krug: please show us the evidence that “most Americans” want any of the things you suggest. We’ll wait right here and we’ll put on another pot of coffee.