To borrow a phrase from Larry Kudlow, “King Dollar” must be a cornerstone of U.S. economic policy. That said, let’s keep in mind what the government should or should not be doing when it comes to the economy. Its first duty is to do no harm, which means staying out of our business even when it is folly. Failure is an option, as far as the government should be concerned, when it comes to our private dealings. But that does not mean it has no role to play in the economy. That role is fundamental albeit limited.
The government must establish the rule of law that makes the free market possible. That means enforcing contracts and prosecuting fraud. This can also include basic regulations that facilitate market efficiency like standard measures and transparency in financial transactions. There is also a place for public works such as highways and ports, but only if their private construction is impractical and their benefits significantly outweigh their costs. Finally, the government must ensure the integrity of the free market’s primary medium of exchange – i.e., our currency.
A “King Dollar” policy concerns this last role of the government.
Continue reading "KING DOLLAR" »
Drill for oil and natural gas in ANWR. Drill out on the continental shelves, even off Santa Barbara where the lefty locals would rather have Big Bad Oil carting the stuff off instead of it naturally leaking out through the earthquake-cracked seafloor and stinking up the place. Drill in the Great Lakes. Drill in Nancy Pelosi's front yard. Drill for these fuels wherever it is reasonable to do so and private investors are willing to put up the cash to get it done. In short, end the arbitrary restraints the Beltway crowd has imposed upon the development of domestic sources of oil and natural gas – at least by letting the off-shore drilling moratorium die a long overdue death come October 1st.
Why?
Continue reading "DRILL, BABY, DRILL!" »
Recent Comments