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. …
“Events are in the saddle and ride mankind.” In describing 2011, few cliches 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 …
As Greece lurches on the precipice of default on its sovereign debt, a default that could bring down banks across Europe and precipitate a global financial panic, a consensus is building that there is but one way out. First, a structured default on the Greek debt, giving creditors a major …
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” “Lenin was certainly right,” John Maynard Keynes continued in …
As he and his daughters bicycle around the summer playground of the Northeastern elite, Martha’s Vineyard, President Obama is steadily bleeding away both the support of the nation and that of his most loyal constituency. Several times, his approval rating in Gallup’s daily tracking poll has sunk to 39 percent, …
Last week’s Republican debate at Ames, Iowa, and the straw poll Saturday did more than sort out the Republican field for 2012. They have given the nation a good close look at a Republican Party that no longer resembles the Bush-McCain model. Consider. Michele Bachmann and Ron Paul, who garnered …
The decision by Standard & Poor’s to strip the United States of its AAA credit rating, for the first time, has triggered a barrage of catcalls against the umpire from the press box and Obamaites. S&P, we are reminded, was giving A ratings to banks like Lehman Brothers, whose books …
The Republican Party is a stool that stands on three legs: social conservatives, economic conservatives and foreign policy conservatives. Yet since Ronald Reagan departed and George W. Bush arrived, that coalition has been under a growing strain that may yet pull it apart and redefine what conservatism means in 21st …
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