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Dow Jones reports that a federal bankruptcy judge gave the go-ahead for Hostess to begin tapping a $75 million loan to keep the company above water while during bankruptcy proceedings. Some attribute Hostess’ troubles to healthier eating habits among Americans, the USA Today article on their filing states: Hostess has enough cash to keep stores [...]
Just a few days ago prominent liberal economist James K. Galbraith strongly endorsed the economic proposals at the heart of my recent immigration article, arguing they constituted the best chance for reviving the American economy. And now National Review‘s leading domestic policy analyst, Reihan Salam, has written a lengthy column discussing Galbraith’s arguments and exploring [...]
In what The Washington Post called “a bold act of political defiance,” President Obama Wednesday announced the recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau. Cordray’s nomination had been blocked by a Senate filibuster. There was no way he was going to win approval in 2012. Enraged Republicans denounced the appointment [...]
The White House today announced a new initiative, part of the wider “We Can’t Wait” initiative, to help young people find summer work. With help from the private sector, the White House says that nearly 180,000 youth working opportunities will be available this coming summer. With an election coming up it would make political sense [...]
Prof. Scott Sumner reviews Tim Congdon’s collection of essays Money in a Free Society: Keynes, Friedman, and the New Crisis in Capitalism. Tim Congdon, one of the UK’s most prominent monetary theorists and former adviser to John Major’s Conservative government, offers an overview of the development of monetary theory and the role misguided monetary theory [...]
Filed under: Economics
“Events are in the saddle and ride mankind.” In describing 2011, few clichés seem more appropriate. For in this past year, we Americans seemed to lose control of our destiny, as events seemed to be in the saddle. While President Barack Obama maneuvered skillfully to retain a fighting chance to be re-elected, the economy showed [...]
Bloomberg’s Roxana Tiron reports on the cozy relationship between Newt Gingrich and Mitt Romney’s advisers and the businesses most adept at siphoning off the taxpayer’s money in the name of war and bogus security: Five of former Massachusetts Governor Mitt Romney’s 41 national security and foreign policy advisers have links to companies that last year [...]
America is by geography a maritime state. Even with a vastly shrunken defense budget, we must remain a naval power. Fortunately, we can. The first reason is that that we face no serious naval challengers. Only Russia and, prospectively, China, have fleets that could contest with ours beyond coastal waters. Russia is not an enemy, [...]
Several days ago Rod Dreher brought up comments by Britain’s chief rabbi, Lord Jonathon Sacks, relating to the problem of mass consumerism. “What does a consumer ethic do? It makes you aware all the time of the things you don’t have instead of thanking God for all the things you do have. … the consumer society [...]
After making what is likely the catch of a lifetime, an 881 lb. bluefin tuna, Carlos Rafael learned that he would not be reaping the rewards of his work. Making shore with his prized catch, the fisherman was greeted by agents of the National Oceanic and Atmospheric Administration’s Office of Law Enforcement. The fish was [...]