Slipping into Stagflation

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Why repeating Carter’s mistakes could wipe out Obama’s hopes for reelection.

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John McCain: I was Misled on Bank Bailout – Arizona Republic

Under growing pressure from conservatives and “tea party” activists, Sen. John McCain of Arizona is having to defend his record of supporting the government’s massive bailout of the financial system. In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury […]

The Bernanke Nomination – WSJ.com

The White House said yesterday it has damped down a political revolt against Ben Bernanke and now has the votes to secure the Federal Reserve Chairman’s second four-year term. Whether or not Mr. Bernanke is confirmed, the lesson we draw is that overly political central bankers will eventually be undone by politics. There’s no doubt […]