Janet Yellen Meets the Right

In my weekly Forbes.com column today, I described the presentations made at a meeting led by American Principles in Action with Federal Reserve Board Chair Janet Yellen and Governor Lael Brainard last Friday.  To read the full column, click here. An excerpt: Janet Yellen, meeting with 21 members of the center right, in Washington … may actually have made some real history. While this story was reported by the AP (as carried, among many publications, by the New York Times, ABC, Fox Business, and Salon.com), the Wall Street Journal, Bloomberg, CNN, the Washington Examiner, and theDaily Signal, among others, there is more

What Brian Domitrovic told Janet Yellen

Brian Domitrovic was one of 22 conservatives invited by American Principles in Action to meet with Janet Yellen last Friday. In his column yesterday for Forbes.com, Domitrovic reveals what he told the Fed Chair: In the era of the near-classical monetary standard, the economy enjoyed a long rush of investment into the production of finished goods and services, into ‘real’ purposes that help human beings live better. In the non-classical eras, investment in primary inputs to the exclusion of finished production of other goods was so great that it took on the aspect of a distortion. The rush into commodities in the

Price of Beef Doubles

The price of hamburger increased to a new record, $4.23 a pound, jumping 22 percent in the last year, according to the Bureau of Labor Statistics.  Official inflation remains low.  But five years ago, a pound of ground beef was just $1.96 a pound.

Santorum: “Pro-Freedom, Pro-Family, Pro-Growth, and Also Pro-Worker”

Sen. Rick Santorum’s CPAC speech carved out a niche for himself as the Blue Collar Conservative, the champion of the ‘little guy.’ Santorum called on the GOP to be “pro-freedom, pro-family, pro-growth, and also pro-worker.”  He gets an A-plus from me as the only candidate I have seen so far to name the reality the average family is facing—a declining standard of living: “We have seen that wages over time have stagnated, the economy median income is declining. . .We need a vision that is focused on working men and women who are struggling in America today. . . and

Rand Paul’s One-legged Stool

Rand Paul managed to give a speech without mention of Common Core, abortion, or gay marriage.  This lacuna was most obvious when Paul attacked judicial activism, but the only case he mentioned was Chief Justice Robert’s opinion that the government can force you to buy insurance. And when asked for the most important constitutional amendment he would want if he could pass only one, he responded “term limits.” On middle-class economics, he gets a ‘zero’ for this speech—explicitly and oddly negating the “desire for wealth” in favor of the desire for liberty as America’s founding principle. Politically speaking, it is a

Scott Walker Takes up Cruz’s Challenge

Wisconsin Governor Scott Walker came to the Conservative Political Action Conference (CPAC) loaded for…Ted Cruz.  Speaking a few minutes after the Texas Senator, Governor Walker responded to Cruz’s riff about picking a candidate “who stood up and fought” by declaring, “[voters] don’t want someone to fight for the sake of fighting, they want someone who will fight and win.” There was a lot of affection for the Governor among this crowd.  He reprised his stage pacing, scriptless presentation which won over so many at the Iowa Freedom Conference.  In terms of style points, Senator Cruz and Governor Walker are comparable

Monetary Policy Shrinking Middle Class

At a CPAC panel on Thursday, APP’s executive director Terry Schilling told GOP candidates to look to monetary policy to explain the average family’s shrinking paycheck: “The demand for digital currency like Bitcoin is a symptom of a larger problem—failed monetary policy,” Schilling said. “People are looking for alternatives to the dollar because of decades of mismanaged monetary policy.” “The combined phenomena of wage stagnation and rising prices have been occurring for decades, but the Federal Reserve has exacerbated the problem in recent years since the advent of their near-zero interest rate policy,” Schilling continued. “While this has been wonderful

Ted Cruz: The Most Conservative Guy in the Room

Speaking at CPAC, Ted Cruz invoked Ronald Reagan’s admonition to paint not in pale pastels but in bold colors – and bold he was.  Cruz seemingly came to CPAC with two objectives: to establish himself as the most conservative of potential presidential candidates and the toughest fighter for conservative principles.  As of the end of Day One, he had succeeded. Cruz made very clear his policy priorities:  repeal “every blasted word” of Obamacare, abolish the IRS, stop the out-of-control regulators at the EPA and the “alphabet soup” of Washington agencies, defend our Constitutional rights, restore America’s place in the world,