The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary

The Real Trouble with the Birth-Control Mandate | John H. Cochrane | Cato Institute: Commentary: 'The pre-existing conditions crisis is largely a creature of tax law. You don’t lose your car insurance when you change jobs.'

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary

The Limits of Monetary Policy Call for Moral, Sound Money | James A. Dorn | Cato Institute: Commentary: 'After expanding its balance sheet from less than $1 trillion before 2008 to nearly $3 trillion today, the Fed has had little impact on the rate of unemployment but has greatly altered the allocation of credit and distorted the yield curve. It is ironic that while Congress criticizes China for manipulating its exchange rate, little is said about the Federal Reserve's manipulation of interest rates and asset prices.'

'Rather than engaging in pure monetary policy to ensure long-run price stability and prevent erratic changes in nominal GDP, the U.S. central bank has engaged in fiscal policy by allocating credit to favored groups and thus politicized monetary policy.'

'Pegging the federal funds rate close to zero for another three years and twisting the yield curve to lower longer-term rates will continue to misprice credit, penalize saving, and encourage risk.'

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary

Highway Robbery by Republicans | Michael D. Tanner | Cato Institute: Commentary: 'Anyone still wondering why there is a disconnect between grassroots limited-government conservatives and the Washington establishment need look no farther than the latest highway bill currently making its way through Congress with support from Republican leaders in both houses.

The Senate version, SB 1813, would cost $109 billion over two years. The House bill, HR 7, which runs to 847 pages of pork and special-interest projects, raises the price tag to $260 billion, but extends it over five years, making it a couple billion cheaper on a year-by-year basis.

In theory, of course, the highway bill is supposed to be paid for out of the Highway Trust Fund. But according to the Congressional Budget Office, the Trust Fund, which is funded by the federal gas tax, will collect only $187 billion over the next five years, meaning that the House bill spends $73 billion more than it takes in.'

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary

Burma Comes in from the Cold | Doug Bandow | Cato Institute: Commentary: 'The Burmese people need investment and trade more than official development assistance, which has a dismal record of promoting sustained economic growth. Private capital would better encourage broad-based development and job creation, so desperately needed by one of the world’s poorest nations. Trade and investment also would strengthen the Burmese private sector, not government (through which most official “assistance” flows), helping to disperse power in a system characterized for decades by the dangerous combination of political and economic power.'

Iran evades US sanctions by paying with gold - CSMonitor.com

Iran evades US sanctions by paying with gold - CSMonitor.com: 'The sanctions have drastically cut its ability to obtain euro and dollar denominated financing, forcing Tehran to find alternative ways to pay for its imports.'

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily

The Fed's Quasi-Fiscal Policies - David Howden - Mises Daily: 'The Fed is seemingly less directly concerned with maintaining output, and more with keeping banks afloat'

'as the Fed bought low-quality assets to strengthen the banking system's balance sheet, it has increased the base money supply by almost 2 trillion dollars (or 250 percent)'

'inflationary pressures will appear if the Fed realizes a loss on its assets (which it has not had to do, as they remain largely unsold)'

'The Fed currently has about $800 billion worth of mortgage-backed securities included in its assets. Add to that $100 billion of federal-agency debt securities, not all of which are guaranteed by the federal government. Include roughly $35 billion worth of AIG assets still on the books, and the Fed has a sizable holding of inarguably low-quality assets.'