Tag: Obama
Redefining War Downwards

So let me get this straight. Obama is not in his actions in Libya violating the War Powers Resolution, passed in 1973, because Libya doesn’t count as a war? You can’t make this stuff up. It goes without saying that if Bush had done something so brazen, Obama and many of his other left-liberal...
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The Independent Review—Spring 2011 Issue Now Available

[Cross-posted in the March 22 issue of The Lighthouse, the Independent Institute’s weekly email newsletter. Sign up for your free subscription here.] We are delighted to announce the publication of the Spring 2011 issue of the Independent Institute’s peer-reviewed journal, The Independent Review, edited by Senior Fellow Robert Higgs. This issue’s articles and book...
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The Federal Reserve: Deficit Enabler

Even President Obama, the architect of our $1.4 trillion deficit, sees that it is a problem. One indication is his call for a two-year pay freeze for federal workers. (This seems like a tactical error, in that it will have hardly any actual effect on the deficit, and will antagonize federal workers, who would...
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There’s “Hope” for Reducing the Federal Debt

A Fox News report broadcast on November 28 supplies means of stanching the unprecedented effusion of budgetary red ink overseen by presidents George W. Bush and Barack Obama. In that report, talking-head Chris Wallace interviewed Jeffrey Post, curator of the gem and mineral collection at the Smithsonian Institution’s Museum of Natural History. The story...
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I Now Report Sightings of Shovel-Ready Projects

I was on the road a good deal last week, driving from my home in southeast Louisiana first through a long stretch of Mississippi to Tuscaloosa, Alabama, then to the outskirts of Birmingham and on to Auburn, Alabama, and finally from there back to my home by way of Montgomery and Mobile. Along the way, I was...
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New Investor Survey Provides Additional Evidence of Regime Uncertainty

Writing for CNBC’s “Behind the Money,” John Melloy describes the findings of a recent survey of investors: Institutional investors fear a government policy mistake far more than inflation, terrorism, a housing double dip, a weak dollar, poor earnings or any other potential risk to the economy, according to a survey of 100 mutual fund,...
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Macroeconomic Policy, European-Style

Last Spring President Obama tried to talk German Chancellor Angela Merkel into continuing massive deficit spending to support the sagging economy. Quitting now, Obama argued, would cut the recovery short and risk major economic problems. A more sluggish German economy would slow world recovery, including recovery in the U.S. Merkel’s response was that narrowing...
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Regime Uncertainty: Are Interest-Rate Movements Consistent with the Hypothesis?

Regime uncertainty has gained increasing recognition as the current economic troubles have persisted with little or no improvement since the economy reached a cyclical trough early in 2009. As described in my 1997 paper, regime uncertainty pertains to the likelihood that investors’ private property rights in their capital and the income it yields will be...
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It’s Uncertainty, Stupid!

Apparently, the “Brains Trust” really is stupid if it doesn’t understand “Government and the Uncertainty Trap,” year after recessionary year. For years, economist and historian Robert Higgs emphasized (and measured) “regime uncertainty” as a cause of the Great Duration—i.e., why the Great Depression “lasted so long.” Higgs’ “delicious expression” is starting to enter the...
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Mussolini Would be Proud: Obama Ballyhoos the Auto Industry Bailout

See Obama go to Detroit. See Obama put the cost of bailing out GM/Chrysler at $60 billion (underestimate) See Obama claim the “auto industry” created 55,000 jobs after losing 335,000. Poor Obama. He does not see (say) *Ford grew the most and received no bailout (some of those 55,000 jobs are Ford’s). *$1.1 million...
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