On RCM, John Tamny notes that $1,500 gold signals a major problem.
The NY Sun urges the President to address the falling dollar.
At NRO, Larry Kudlow suggests Treasury Sec. Tim Geithner is overly optimistic about a budget deal.
On The Kudlow Report, Brian Westbury discusses the end of QE2:
From Bloomberg, Amity Schlaes notes that lower tax rates often boost government revenues.
From Hoover, Richard Epstein argues against income redistribution.
Smart Money Europe explains that the euro is strong because the dollar is weak.
The WSJ reports Vladimir Putin calling U.S. monetary policy “hooliganism.”
“Look at their trade balance, their debt, and budget. They turn on the printing press and flood the entire dollar zone — in other words, the whole world — with government bonds. There is no way we will act this way anytime soon. We don’t have the luxury of such hooliganism,” he said.
Even as Putin blamed the U.S. for printing money — something for which Russia was criticized during periods of hyperinflation in the 1990s — other Russian officials said there is no alternative to the U.S. dollar and declined to discuss cutting the country’s dollar holdings.
On TGSN, Daniel Ryan suggests the gold standard empowers the people.
At the Atlanta Federal Reserve’s Macroblog, Dave Altig cites this Robert Mundell paper to suggest Mundell is not a critic of Keynesianism (h/t: COAL).
On COAL, Paul Krugman challenges the notion that inflation is expansion of money and credit.
Think Progress reports U.S. Rep. Paul Ryan (WI) got booed at a constituent meeting for opposing raising tax rates on the wealthy to address the deficit.