American workers and motorists got some badly needed relief last week when the price of oil plunged to its lowest level in years. The oil price has fallen by about 20 percent since its peak back in June of $105 a barrel. This is translating to lower prices at the pump with many states now below $3 a gallon.
Already the lower oil and gas prices are the equivalent of a…
“What is history but a fable agreed upon?” Napoleon said. That observation has never been more true than with the story of the Great Depression and its aftermath. With liberals today pitching more government spending “stimulus,” it’s critical we get this history right.
I’ve written before about the historical lie that President Franklin Roosevelt’s New Deal programs…
The Nobel Peace Prize winner is about to be announced, setting off all the hype that goes with it.
The idea of the near-century-old award is to honor a person who has profoundly changed the world for the better by promoting peace and improving the state of humankind. The prize has gone to such giants as Martin Luther King, Nelson Mandela and Henry Dunant, founder of…
President Obama declared last week during a speech at Northwestern University that he has turned the economy around and that while he might not be on the ballot in November midterm elections, his “agenda will be.” Democrats across the country cringed when they heard that one. Right now Michelle is a lot more popular than he is on the campaign trail – much like Laura…
Back in 1997 when control of Hong Kong was ceded from the British to the Chinese, the question was whether the Chinese governing system would take over Hong Kong, or Hong Kong capitalism would take over China.
Well, now we know the answer — or at least the answer that the repressive leaders of China are seeking.
The tragedy of Beijing blocking Hong Kong’s right of…
President Barack Obama raised a lot of eyebrows last week when he declared in his United Nations climate change speech: "Over the past eight years, the United States has reduced our total carbon pollution by more than any other nation on Earth."
That's absolutely true. And it's remarkable because we as a nation didn't ratify the Kyoto Treaty, pass a carbon tax, or enact…
My seventh-grade son recently wrote a U.S. History paper extolling the virtues of President Franklin Roosevelt’s New Deal. “It ended the Great Depression,” he wrote with great certainty. He’s only 12 and parroting what the history texts and his teachers told him.
That’s his excuse. What’s Ken Burns’?
Mr. Burns’ docudrama on the Roosevelts — for those who weren’t…
Maybe the U.S. economy, a weakling for the last six years, is finally starting to flex some muscle. We’re referring to the return of King Dollar.
For those who haven’t been paying attention, the greenback is in the midst of a rally not seen since the 1990s. It’s racing past the euro, the yen, and other currencies. Investors worldwide are buying the equivalent of stock…
Earlier this year the Obama administration again delayed a decision about the Keystone XL pipeline. The 1,200 mile, $5.2 billion pipeline could increase North American energy security and create more than 15,000 jobs. But behind the White House's unwillingness to move forward are environmental groups that vehemently oppose the project. Groups like the Sierra Club warn…
If the Obama Administration has its way, Ronald McDonald may soon have to wipe that grin off his face as he stands beneath the Golden Arches. One of the most successful models for expanding small-business ownership in America is under full-scale attack from unions and the White House.
The political strategy is to fundamentally change the legal relationship between…
Politics is often filled with paradoxes, and here is one that nearly defies explanation. The demographic groups that voted most heavily for Barack Obama in 2012 have suffered the most from this president’s economic policies. Maybe the people in these demographic groups — blacks, Hispanics, single women and young people — are economically uninformed, or maybe for these…
Japan is flush with national pride this week, thanks to Kei Nishikori, the tennis phenom who knocked off seemingly indestructible Novak Djokovic to reach the U.S. Open finals and become the first Japanese to reach a grand slam final ever.
If only Japan's economy could perform half as well. For also this week, Tokyo announced that second-quarter GDP shrank by an…
Often during an economic recovery, welfare caseloads fall as jobs return. In this recovery, welfare caseloads kept climbing through 2012. That’s the message of a new Census Bureau report released last week, which found that, at the end of 2012, the number of Americans in households collecting “means tested” welfare assistance was officially 109 million.
That’s close to…
A strange thing happened at the Federal Reserve Bank’s summer-end conference in Jackson Hole, Wyo. Usually these are boring affairs, but liberal protesters crashed the party this time, and demanded that the Fed help the poor by holding interest rates close to zero and injecting more dollars into the economy.
An exchange between Reggie Rounds of Ferguson, Mo., and Fed…
John F. Kennedy campaigned for president in 1960 by belittling Dwight Eisenhower's three recessions and declaring, "We can do bettah."
He was right.
In the 1960s, after the Kennedy tax cuts were implemented, prosperity returned, the economy grew by almost 4 percent annually, unemployment sank to record lows, and a gold-linked dollar held down inflation.
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