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The Punch Drunk President

Sunday, March 22, 2009  |  posted by Hugh Hewitt

Barack Obama is interviewed by Steve Kroft.

The Politico.com write-up of the president’s 60 Minutes interview conveys Steve Kroft’s unease with the tone of the interview, but markets may discount the alarmism as positioning against the building opposition to the massive budget deficits pushed by the Adminstration.

My first column for the D.C. Examiner will run Monday and deal with these staggering demands for dollars far beyond what we can afford. The president’s intimation of the possible return of the edge of collapse is a tactic in the push for the sort of spending that could never be justified except by such a peril.

Another Optimist

Sunday, March 22, 2009  |  posted by Hugh Hewitt

From UCLA Professor Earl A. Thompson, writing at The American Thinker:

The FOMC to the Rescue…Finally.

The March 18th Meeting of the FOMC produced a genuine monetary shock analogous to the Roosevelt’s 1933-34 monetary expansion. After nine months of starving our economy of cash, the Committee suddenly reversed its course and decided to purchase 1.05 trillion dollars worth of government debt over the next few months. Commodity prices have jumped and the dollar has finally fallen in the world’s money market. We can, as the FOMC carries out this long-needed monetary expansion, expect an escape from the current low-level trap and return to the efficient, upper equilibrium in the near future. Stocks will correspondingly boom, real estate prices will finally bottom out, and we will see a rapid recovery from the current recession. Retail prices will, by the end of the sequence, rise, as they should have in the first place. And interest rates will dramatically recover.

CPSIA Update

Sunday, March 22, 2009  |  posted by Hugh Hewitt

I will be in D.C. this week and will ask every congressman and journalist I see if they are even aware of the CPSIA’s devastating impacts on hundreds of businesses and the billions in costs it is piling up. For an intro, see this post from Covenant Zone.

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