Commodity prices are a monetary phenomenon. The price of oil keeps going up. Yet Ben Bernanke still won’t do anything serious to strengthen the dollar. Again and again I and many others have been warning for month after month that “Stagflation could make its ugly face obvious as early as this summer.” Now it is just about here. And it’s the fault of the Fed and the Treasury, along with a political class that keeps approving huge spending while failing to ensure that current low tax rates will remain low. And now things are getting really awful. Since Ben Bernanke and the Fed refused last week to back up Bernanke’s “strong dollar” talk, from a few weeks earlier, with any actual discernible action, the stock market has tanked even further, horrendously so, while oil and gold have jumped even more. Bernanke is incompetent. Bush can’t fire him, but he should ask for the Fed Chief’s resignation, in favor of somebody who will actually protect the dollar.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?