Bull in China Shop
What would Ron Bloom Say?
My eye was drawn to the provocative headline, “Alcoa head says weak dollar is bad for US industry.” How could that be? Aren’t American manufacturing firms being hurt by an overvalued dollar that increases the price of their goods made here relative, say, to imports from China? That may be true, I learned, but that is not what bothers Klaus Kleinfeld, the CEO of Alcoa. He is worried because a weaker dollar makes the products that Alcoa manufactures outside the United States more expensive inside READ MORE >>
Bernanke's Conservative Message
More on Obama's Inconsistencies
I want to add a few things to Richard Just’s excellent comment on Obama’s speech. I think there are two reasons why Obama soft-pedaled nation-building and human rights (not even mentioning the fundamental rights of women that the Taliban deny). The first, which Richard notes implicitly, is a desire to appease Americans who think the administration is neglecting the U.S. in favor of Afghanistan. READ MORE >>
Sorry, but I Hear Echoes of Vietnam
I don’t oppose what Barack Obama plans to do in Afghanistan. I don’t know enough, and from what I know, I don’t have an alternative to propose. I would have preferred he find a way to achieve American objectives without escalating the war, but I agree with his objective of denying al Qaeda a home in Afghanistan through a Taliban victory, and I hope that his strategy will achieve it. Still, I have my doubts. READ MORE >>
Cheney for Fisherman
The Incredible Lightness of the U.S. Media
Political trouble for Obama
There has been a lot of talk lately about whether Obama is or is not losing support among independents. READ MORE >>
Case for deficits (continued)
In my column today, I posed the question of whether the Fed’s infusion of cash, and near-zero interest rates were inspiring bank lending to businesses. On the basis of the Fed’s quarterly interviews with loan officers, I concluded that its measures had not. Today, there is further evidence – from the Federal Deposit Insurance Corporation (FDIC) quarterly report on bank practices. According to READ MORE >>
