John Tamny

John Tamny is editor of RealClearMarkets. He can be reached at



Last December in these pages we concluded that George W. Bush’s economic legacy will be remembered in history as a failure, in no small part because of the collapse of the dollar and the tripling in gold prices over the course of his presidency. We wish that Barack Obama had paid attention to that column because […]

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Weak Dollars, Weak Presidents


Our friend Steve Forbes has said that if you’re ever stuck in the middle seat on an airplane and want to clear some elbow space, start talking about monetary policy and your seatmates will start fleeing for the exits. But the subject was unavoidable this past election season, and it is precisely because President Bush […]

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Embrace the Wealth Gap


In a recent op-ed, economist Robert Samuelson said “there is something unsettling about extremes of wealth and poverty.” He obviously meant it pejoratively, but in truth, extremes of wealth and poverty are the very source of the economic advances and creativity that we regularly witness around the world. As Canadian economist Reuven Brenner wrote in […]

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Subprime Misunderstanding


A recent article in the Wall Street Journal asked if the subprime industry pulls back, will it be harder for the former beneficiaries of its loans “to buy cars, shop at the mall and dine out?” According to the article’s authors, the spending driven by cheap money “has helped to fuel the U.S. economy’s growth.” […]

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Blinder’s Blinders


Princeton University’s Alan Blinder wrote in 2001, “Like 99% of economists since the days of Adam Smith, I am a free trader down to my toes.” According to a front page article by the Wall Street Journal‘s David Wessel and Bob Davis yesterday, Blinder “remains an implacable opponent of tariffs and trade barriers,” but now […]

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Globalization and Inflation


In a speech last week before the Stanford Institute for Economic Policy Research, Fed Chairman Ben Bernanke questioned whether increased worldwide economic integration has actually driven prices lower. Though a strong advocate of globalization and free trade, Bernanke said, “there seems to be little basis for concluding that globalization overall has significantly reduced inflation,” and […]

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