Politics and Government
From MarketWatch, Joseph Adinolfi discusses why the U.S. economy is vulnerable to global woes.
From Forbes.com, John Tamny writes David Gordon took aim at Steve Forbes, but hit Ludwig von Mises.
In NJ.com former NJ governor Jim Florio compares the gold standard to zombies and vampires.
In the New Yorker, John Cassidy details Janet Yellen’s remarks on rising inequality, rising asset prices.
During the Great Recession, income fell more steeply at the top, largely as a result of the decline in the stock market. That caused inequality to “narrow slightly,” she said, but it “resumed widening in the recovery, and by 2013 it had nearly returned to the pre-recession peak.”
That’s an important finding, because some other studies suggest that, by some measures, income inequality has levelled off during the past decade.
Turning to wealth, which includes financial assets, real estate, and durable goods, such as cars, Yellen noted that the pattern was the same—except the increase in inequality had been even more stark.
In the WSJ, David Malpass writes creating economic growth isn’t the Fed’s forte.
In the NY Sun, Larry Kudlow says the GOP may get the chance to dare the President to veto the keystone pipeline.