“Postal Banking”: The Latest Terrible Idea from 2020 Democrats

Recently, Senator Bernie Sanders (I-Vt.) and Representative Alexandria Ocasio-Cortez (D-N.Y.) unveiled a proposal that would cap credit card interest rates at 15 percent. As you probably surmised, enacting a proposal like this into law would be the economic equivalent of bombing the U.S. credit market. Heck, I have a cash-back credit card in my wallet right now with an APR of 19 percent. It’s very possible you have a similar one too. If so, you may want to take note of which 2020 Democratic presidential candidates would quite literally ban it. In short, enacting price controls on credit card interest

Supply-Side Hero Arthur Laffer to Receive Presidential Medal of Freedom

Next week, Donald Trump will award the Presidential Medal of Freedom to “the Godfather of supply-side economics,” Arthur Laffer. Trump’s decision to bestow America’s highest civilian honor on Dr. Laffer is one for enormous celebration, as few have contributed more to American prosperity than he has. Arthur Laffer came to prominence in the 1970s by championing income tax rate reduction (i.e. ‘The Laffer Curve’) as well as a stable dollar (via the Mundell-Laffer hypothesis). Taken together, these two pillars amount to what historian Nathan Lewis refers to as a “magic formula” for economic growth. President Reagan used this playbook to

Fears of a Big Tech Monopoly Are Overblown — Here’s Why

In a disappointing setback for an administration that has promoted greater economic freedom, reports indicate that Trump’s Department of Justice and Federal Trade Commission are investigating four of America’s most successful businesses for anti-trust violations. The Hill reports: The federal government’s top antitrust enforcers, the Department of Justice and Federal Trade Commission (FTC), have reportedly reached an agreement on how to divide up their responsibilities for investigating Silicon Valley’s biggest companies, with the Justice Department setting its sights on Apple and Google and the FTC taking the lead on Facebook and Amazon. The agencies are said to be weighing whether

Amid Chinese Threat to Cut Rare Mineral Exports, U.S. Should Start Mining Its Own

Stocks were rocked yesterday after China’s People’s Daily newspaper published an editorial warning that China could restrict exports of rare earth minerals if trade tensions continue escalating. This threat spooked markets because rare earth minerals are critical components of everything from smart phones to batteries to defense technologies — and the U.S. is highly reliant on China for them. In light of this ace-up-China’s-sleeve during trade negotiations, it is prudent to revisit a recent study by the Committee to Unleash Prosperity on America’s mineral resources. As the report notes, America is uniquely and abundantly blessed with rare and critical earth

A New Gold Standard? Legislation Brings Monetary Debate to Congress

This week, Congressman Alex Mooney (R-W.Va.) reintroduced legislation to make a U.S. dollar convertible into a fixed weight of gold. Much in the spirit of Jack Kemp’s Gold Standard Act of 1984, the bill restores integrity to American wages by re-committing the federal government to the promise that Richard Nixon broke in announcing the closing of the “gold window” in 1971 — that a dollar today would be worth a dollar tomorrow. The introduction of Congressman Mooney’s gold standard legislation was met with immediate praise from the grassroots conservative organization FreedomWorks. It also received support in the American Thinker in

This Week in Economics: 4 Stories You Should Know About

The U.S. economy showed surprising strength in the first quarter of 2019, with initial estimates of GDP growth coming in at a solid 3.2 percent, and more significantly, year-over-year productivity growth hit 2.4 percent — the highest reading since 2010. National Economic Council Director Larry Kudlow summed it up best when he said the latest economic data shows the administration is “killing it on the economy,” and President Trump’s economic approval rating has hit a new all-time high. The U.S. economy is off to a great start this year. Here are some economic stories to look out for as we

Democrats’ Awful 2020 Economic Agenda — In 3 Memes

In celebration of Easter, I interrupt your regularly scheduled economic reporting with something a little more lighthearted. If your family dinner table is set to contain as much political sparring as mine, feel free to share the following with your relatives. Here are 3 memes that perfectly summarize Democrats’ 2020 economic agenda: 1.) Why are progressives, including Bernie Sanders and Alexandria Ocasio-Cortez, now referring to themselves as ‘Democratic’ Socialists instead of just socialists? Do they think putting a good word in front of a bad word makes the latter sound less terrible? If I said my Toyota Camry has a

Conservatives Combat Leftist Smear Campaign Against Stephen Moore

Over the past three decades, there has arguably been no greater public champion of free market economics than Stephen Moore. Therefore, it’s no surprise that the Left lost its collective mind over Trump’s nomination of Moore to the Federal Reserve Board of Governors. But rather than oppose Stephen Moore due to his views on the true cause of inflation (hint: it’s not economic growth, as widely believed at the Federal Reserve), the merits of a rules-based monetary policy, or the need for a more transparent central bank, they have resorted to re-litigating divorce filings and scrutinizing his decades-old tenure at

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