“In 1877, Lord Salisbury, commenting on Great Britain’s policy on the Eastern Question, noted that ‘the commonest error in politics is sticking to the carcass of dead policies.’ “Salisbury was bemoaning the fact that many influential members of the British ruling class could not recognize that history had moved on; …
“The best way to destroy the capitalist system is to debauch the currency,” said Lord Keynes. Ben Bernanke disagrees. A student of the Depression, the Fed chair appears far more fearful of deflation — a vicious cycle of falling prices, debt defaults, home foreclosures and rising unemployment. Deflation is what …
As the U.S. financial crisis broadens and deepens, wiping out the wealth and savings of tens of millions, destroying hopes and dreams, it is hard not to see in all of this history’s verdict upon this generation. We have been weighed in the balance and found wanting. For how did …
During Nixon’s historic trip to China in 1972, his interpreter and I, free for a few hours, conscripted a driver to take us on a tour of Beijing. Somewhere in my files are photos from that day we toured the grim city of Chairman Mao in the time of the …
It was the winter of conservative discontent. Barry Goldwater had gotten only 38 percent of the vote, and his party had suffered its worst thrashing since Alf Landon fell to FDR in 1936. Democrats held 295 House seats, Republicans 140. They held 68 Senate seats to Republicans’ 32, and 33 …
In his campaign and inaugural address, Barack Obama cast himself as a moderate man seeking common ground with conservatives. Yet, his budget calls for the radical restructuring of the U.S. economy, a sweeping redistribution of power and wealth to government and Democratic constituencies. It is a declaration of war on …
“Real men go to Tehran!” brayed the neoconservatives, after the success of their propaganda campaign to have America march on Baghdad and into an unnecessary war that has forfeited all the fruits of our Cold War victory. Now they are back, in pursuit of what has always been their great …
Lecturing a conscript conclave of Justice Department bureaucrats, Attorney General Eric Holder last week called America a “nation of cowards” for not spending more time talking about race. Reading his speech, however, one recalls the sage counsel of Pat Moynihan to President Nixon in 1970: This whole subject might benefit …
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