WASHINGTON— The Treasury Department is sanctioning a government official and others in Zimbabwe for allegedly undermining democracy in the southern African nation. The department says Mudede oversaw critical elements of Zimbabwe's flawed July 2013 presidential and parliamentary elections.» Read More
Why is it that in all his statements in his recent foreign-policy trip to the Mideast and Europe, Sen. Obama never mentions the importance of spreading freedom and democracy around the world, and most especially in the very troublemaking nations that are so tied to terrorism that he has been discussing?
If the economy is in recession, why are business durable-goods orders and shipments booming? Non-defense capital goods (capex) excluding aircraft rose 1.4 percent in June, or 19 percent at an annual rate over the last three months.
Senator John McCain hit a grand-slam homerun today with an op-ed piece (“Take taxpayers off hook for rot at Fannie, Freddie”) that debunks the federal worship of Fannie Mae and Freddie Mac.
Media reports painted a pessimistic picture of today’s release on existing home sales. But inside the report was an awful lot of very good new news, which appear to be pointing to a bottom in the housing problem; in fact, maybe the tiniest beginnings of a recovery.
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with Senate Minority Leader Mitch McConnell.
Can bad Washington policies sometimes work to the benefit of financial markets? In the short run the answer is certainly yes. Nothing illustrates this point better than the gigantic Fannie-Freddie housing bailout bill that will soon pass Congress and be signed into law by President Bush.
Treasury man Henry Paulson reassured investors and bank depositors in a speech this morning in New York that the U.S. banking system is okay. Mr. Paulson noted the failure of IndyMac bank, the third largest in history.
What follows below is an excerpt from my conversation on Kudlow & Company last night with supply-sider Steve Forbes regarding Phil Gramm’s future with the McCain campaign. Mr. Forbes is the president & CEO of Forbes Inc and has advised the campaign on economic policy. Click here for more of my thoughts on this developing story.
When the Phil Gramm flap broke out about 10 days ago, with his Washington Times interview miscues about a nation of whiners and a mental recession, other McCain economic advisors were quick to lambaste the former Texas senator. Douglas Holtz-Eakin told the PBS "Nightly Business Report" that Gramm is no longer giving advice to McCain or his aides.
Why does it seem to me that all Washington ever seems to talk about these days is bailouts? Bailout Freddie Mac. Bailout Fannie Mae. Bailout Wall Street. Bailout homeowners. Is it possible in America today that no one is allowed to fail?
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with former Republican presidential candidate Congressman Ron Paul of Texas. We talked about inflation, bailouts, the Fed's role, Fannie & Freddie and much more. Last night's K&C market panel also joined in the discussion.
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with Senator Jim Bunning (R-KY). Mr. Bunning is a Republican member of the Senate Banking Committee.
I see this morning that some of my CNBC colleagues are talking down to Jim Bunning, almost making fun of him as some sort of “odd duck,” because the Kentucky senator dared to squawk back at Henry Paulson (and for that matter Ben Bernanke) during yesterday’s Senate hearings on Fannie Mae and Freddie Mac.
In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere.
Investors trashed shares of these government-sponsored enterprises last week, knocking them down almost 50 percent on a wave of bankruptcy rumors. Former St. Louis Fed president Bill Poole argued that technically, the two are already in bankruptcy, while fears spread they couldn’t even raise overnight money to finance their operations.
I noticed that gold went up $10 this morning to around $970 on the news that Uncle Sam will backstop mortgage lenders Fannie and Freddie. Gold, of course, is still a key barometer of dollar value and future inflation, while it may be a sidebar to the bigger story of saving Fannie and Freddie.
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with investment banker and former Texas Senator Phil Gramm. Mr. Gramm is a top economic advisor to John McCain.
As banking and financial stocks lead the overall indexes down into bear-market territory, Fed head Ben Bernanke and Treasury man Henry Paulson are testifying today on ways and means to reform all manner of bank and securities dealer supervision and regulation.
Yesterday I wrote that the McCain campaign is distancing itself and moving away from cap-and-trade. This is clear from the fact that the senator’s recent speeches do not mention cap-and-trade, and that the 15-page policy pamphlet issued by the campaign also makes no mention of cap-and-trade.
After writing favorably about Sen. McCain’s recent economics speeches, where he clearly shifted toward the supply-side both on tax cuts and producing more energy, I went back last evening and carefully read his 15-page policy pamphlet called “Jobs for America.”