Every day brings more and more evidence that Obamanomics is failing in Europe.  I wrote some “Observations on the European Farce” last week, but the news this morning is even more surreal. Let’s start with France, where I endorsed the explicit socialist over the implicit socialist precisely because of a morbid desire to see a […]

I’m not a big fan of international bureaucracies, mostly because they always seem to promote bad policy such as higher tax rates. The International Monetary Fund is urging higher tax rates and pushing for nations to replace flat tax systems with so-called progressive taxation. The Organization for Economic Cooperation and Development has embraced Obama’s class-warfare […]

“A pox on both your houses.”

In a grand Washington tradition, I periodically make imperious demands. In the past year or two, I’ve issued the following ultimatums to the GOP. o No tax increases, since more money for Washington will encourage a bigger burden of government and undermine prosperity. o Reform the biased number-crunching methodology at the Congressional Budget Office and […]

I speculated last year that the political elite finally might be realizing that higher tax rates are not the solution to Greece’s fiscal situation. Simply stated, you can only squeeze so much blood out of a stone, and pushing tax rates higher cripples growth and drives more people into the underground economy. Well, it turns […]

Perhaps the title of this post is a bit unfair since the International Monetary Fund is good on some issues, such as reducing subsidies. And some of the economists at the IMF even produce good research. But I can’t help but get agitated that this behemoth global bureaucracy wants more money when it has a […]

There’s a rather simple solution to Europe’s fiscal crisis, but politicians will never do the right thing unless every other option is exhausted. That’s why American taxpayers should not be involved in any sort of European bailout, either directly or indirectly. This cartoon captures my sentiment. At the risk of being picky, however, I would […]

The Europeans have just agreed to another bailout for Greece. That’s the bad news. The good news is…well, there is no good news. Sarkozy, Merkel, and the other statists have once again failed to do the right thing and instead have decided to throw good money after bad and dig the debt hole even deeper. […]

I’m not an expert on addiction, but it’s probably safe to assume that one would never treat an alcoholic by giving him more booze. Or treat an addict by giving him more drugs. So you won’t be surprised to learn that I’m opposed to bailouts. I’m against bailing out banks. I’m against bailing out car […]

This is getting surreal. We now have layers of bailouts around the world. Different nations are doing their own bailouts. On top of that, the Europeans have set up something called the European Financial Stability Facility, which does bailouts across the continent. And then there’s the International Monetary Fund, doing bailouts on a global basis. […]