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Thursday summary: Mundell on Greek default; the dollar is rising; Politico on opposition to Bernanke.

From Bloomberg, Robert Mundell says a Greek debt default would trigger a “monstrous” run on banks, that no nation should leave the eurozone, and that the Fed and ECB should enact a $1 trillion swap facility to prevent a dollar shortfall.

Dow Jones reports the dollar rising, with the euro down to $1.38 from $1.45 in recent days.

Politico notes the opposition to Fed Chairman Ben Bernanke at the GOP debate.

Bloomberg reports a surprise cut in Brazil’s interest rate despite 7.2% inflation.

At The WSJ, Joseph Sternberg and Abheek Bhattacharya discuss the weak dollar’s role in Korea’s rising inflation:


The WSJ reports on two new studies of why the stimulus failed.

In Asia Times, David Goldman criticizes the small business payroll tax cut.

In The WSJ, Michael Boskin argues the President’s response to the crises he inherited has been poor.

On The Kudlow Report, Larry Kudlow discusses the President’s jobs speech:


At RCM, John Tamny defends China’s economic strategy.

The WSJ analyzes Mitt Romney’s 59-point economic plan.

Also in The Journal, Paul Gigot critiques the Romney proposal.

From earlier this month, The NY Sun notes an excellent interview with James Grant on gold.

In Forbes, Jerry Bowyer suggests that while imperfect, gold is the best monetary barometer.

TGSN features Ronald Reagan’s TV ad supporting a return to the gold standard:

At COAL, Paul Krugman denies that gold is sending inflationary signals.

Also on COAL, Krugman attacks The WSJ editorial page’s economic predications.

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