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Tuesday Update: Steve Lonegan explains how the gold standard ensures the dollar has more buying power; Dr. Judy Shelton cautions Madame Yellen on grandiosity; John Tamny urges us to ignore the latest deflation scare; Ralph Benko asks if Janet Yellen is the New Magoo following her Perspectives on inequality speech

Politics and Government

In the NY Sun, Larry Kudlow says the President’s head will spin in a flurry of legislation if the GOP takes the Senate.

Monetary Reform

At NJ.com, Steve Lonegan explainshow the gold standard insures the dollar has more buying power, debunks former Governor Jim Florio’s caricature of the gold standard.

In the NY Sun, Steve Forbes writesgreat countries don’t have weak currencies.

At Forbes.com, John Tamny urgesus to ignore the latest deflation scare.

In The Hill, Dr. Judy Shelton cautions Madame Yellen on grandiosity.

From Forbes.com, Ralph Benko asks if Janet Yellen is the New Magoo following her Perspectives on inequality speech; also on Forbes.com, Ralph Benko coversHarry Reid and the Democrat’s strategy to keep the majority.

In Forbes.com, Nathan Lewis explainswhat’s behind the collapsing ruble.

Steve Hanke, tellsInterfax the country will continue to run down its foreign reserves – the cash it uses for LNG imports.

The NY Sun debunksthe NY Times claim that QE revived the economy.   

The Washington Post discusseswhy Europe is doomed.

The German central bank is a lost cause that’s compared Draghi to the devil—yes, really—for being open to printing money

From Forbes.com, Norbert Michel suggestswe discredit the devaluation of currencies once and for all; also on Forbes.com, Norbert Michel detailshow the Fed was too tight in 2008.

At TGSN, Ralph Benko presents part 3 and part 4 of his interview with Professor Lawrence White.

Tax

At Forbes.com, Brian Domitrovic writespoliticians were talking about the Laffer curve in 1963.

The Middle Class Squeeze

Rising demand of meat and corn combined with bad weather cause food prices to reach record highs for restaurants.

Rising electricity prices cause communities in the NE to reignite debate over the construction of a natural gas pipeline in the area.

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