February 13, 2012 Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away Danielle Kurtzleben: The Peace Process is over. Finally Susan Johnston: The Myth of Economic Inequality Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market The Kosher Gourmet by Diane Rossen Worthington: Farro Salad: An ancient grain is now new again as the base of a tasty tangle of flavorsome vegetables, chickpeas and salami February 10, 2012 Rabbi Nathan Lopes Cardozo: The biblical case against small-mindedness involved diminishing His precious prophet Caroline B. Glick: The Peace Process is over. Finally Lisa M. Krieger: Man with defibrillator demands access to his own heart's information David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage Rachel Koning Beals: Gen X Women Continue to Shrink Gender Investing Gap The Kosher Gourmet by Faith Durand: Who Says You Can't Make Restaurant Favorites at Home?: MANGO AND STICKY RICE February 9, 2012 Jeff Strickler: An argument a day keeps the divorce away, they say Clifford D. May: CAIR's Crusade against The Third Jihad Melissa Healy: Study finds jolt to the brain boosts memory Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation Emily Brandon: 10 Necessities for a Great Retirement Spot The Kosher Gourmet by Diane Rossen Worthington: Winter Squash and Red Swiss Chard Risotto is Colorful Cozy Cold Weather Fare (includes detailed dos and don'ts) February 8, 2012 Rivy Poupko Kletenik: Tree hostility: The auspicious history of the evolution of Tu B'Shevat Steven Emerson: Planting Trees is Racist?! Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups Anne Applebaum: Russia's Potemkin democracy Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs Emily Brandon: 10 Necessities for a Great Retirement Spot The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets) February 7, 2012 Kathleen Hennessey and Christi Parsons: Obama not worried that birth-control move will hurt his re-election chances with Catholics, other faithful Caroline B. Glick: Obama's rhetorical storm Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design David Francis: How to Avoid an IRS Audit The Kosher Gourmet by Emma Christensen: These homemade energy bars (3 recipes) are far better workout fuel than commercial ones, packing power and taste February 6, 2012 Scott Peterson: Iran's top ayatollah: We're trumping the West Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland' Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good Philip Moeller: Where Smart Investors Put Their Money Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard? The Kosher Gourmet by Joseph Erdos: Vegetable Frittata --- leftovers never tasted so scrumptious February 3, 2012 Rabbi Dr. Warren Goldstein: Living with ideals --- in reality Caroline B. Glick: Fool me twice Jonathan Tobin : Adelsonphobia Strikes in Nevada Caucus Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US Kimberly Palmer : 8 Ways to Get Ready for Retirement Now Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling The Kosher Gourmet by Faith Durand: A quick cookie recipe: Hazelnut and Olive Oil Shortbread: Sweet, Nutty, and Savory February 2, 2012 Rabbi Yaakov Rosenblatt : Welcome Home, Governor Perry Jim Carney: Wrong number call may have saved her life Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran Kelsey Sheehy : 5 Tips for Choosing an M.B.A. Concentration Rachel Koning Beals : Investors Increasingly Tap Social Media for Stock Tips Tina Susman: For woodchuck rescuer, every day is Groundhog Day The Kosher Gourmet by Leela Cyd Ross : Savory vegetable pie is a taste of European bistro with minimal effort and maximal flavor February 1, 2012 Nara Schoenberg: What to do when you've been dissed Michelle Malkin: First, They Came for the Catholics Brian Bennett: US officials see increasing threat of domestic attack from Iran Lisa M. 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Jewish World Review April 22, 2009 / 28 Nissan 5769 Honest talk about Chinese currency manipulation By Tony Blankley http://www.JewishWorldReview.com | Last week, the Obama administration declined to cite China for currency manipulation despite the fact that most experts — including Treasury Secretary Timothy Geithner during his confirmation testimony — do not deny the obvious currency-rate fixing by China. Almost certainly, this decision reflected merely a tactical judgment not to offend China, given China's vital role in the international economic recovery effort. But Chinese currency manipulation provides a useful entry point into an important Washington debate: Do we understand well enough — and are we in a political position to discuss honestly — the causes of the current financial and economic crisis to be ready, this year, to enact financial re-regulation legislation? I would argue not only that we do not understand enough yet but also that we have plenty of time before new financial regulations need to be enacted. (Disclosure: I have given professional advice to a financial institution.) Everyone — from President Barack Obama to House Financial Services Committee Chairman Barney Frank to major free market economists and Republicans — currently agrees that the gravamen of any new financial re-regulations must be to guard against financial institutions and major players taking systemic risks that may undermine national and international finance again. And, while the day may well come when that risk will arise, for at least the next year (and probably for several years), the problem will be trying to induce financial institutions to trust one another, trying to induce holders of capital to take any chances on investment. Thus, the financial danger for the time being is not risk taking; it's risk aversion. At their heart, financial relations are based on trust. That trust has been shattered. It almost certainly will take new financial regulations, particularly in the United States, to rebuild that trust. But for the regulations to serve that necessary function, they must be seen to reflect a correct assessment of the causes of the current calamity, as well as a credible and timely check on those dangers — and still permit the financial system to generate prosperity. A number of members of Congress — mostly from the left side of the political spectrum — have called for hearings on the causes of the financial failures. Though they may well have ideological oxen they plan to gore at such hearings, I agree with them that there ought to be extensive public hearings. While cause and effect in human affairs is inevitably a muddled matter (scholars still debate the causes of the French Revolution and the cures of the Great Depression), we owe it to our hopes for future prosperity to make a serious effort to understand what just happened and why. That brings me back to the question of Chinese currency manipulation. A growing body of leading experts believe that the Chinese refused to allow their exporting strength vis-a-vis the United States to be reflected in a true value of their basic monetary unit, the yuan (also known as the renminbi). By pegging it to the dollar, they ran up huge surpluses and recycled the money back to the United States. But more significantly, the global account imbalances — profoundly exaggerated by their fixing the yuan — may have been the primary cause of the world financial crisis. The case against this act of "exchange rate protectionism" (professor Max Corden coined the phrase) was put forcefully and presciently by Martin Wolf, the Financial Times' chief economic commentator (and as close to a 21st-century Walter Bagehot as we have), in his 2008 book, "Fixing Global Finance": "Many blame the United States' predicament on the policies of the Federal Reserve and lax regulation of the financial system. These arguments are not without merit, but they are exaggerated." He goes on to make a powerful case that China's currency-rate fixing supercharged the current account imbalances and led to the disaster. What makes Wolf's argument piquant is that he cites — and relies on for the "significance" argument — the powerful lecture "Reflections on Global Account Imbalances," delivered in 2006 in India by Lawrence Summers — then a private citizen and now President Obama's chief economic adviser. It is doubly interesting that Summers gave the following dust-cover endorsement last year to Wolf's book: "Wolf is the world's preeminent financial journalist. This book should be read by anyone who cares about the future of the international system." Major reviews of his book all point to the centrality of this currency-manipulation charge against the Chinese. For example, the review in The Observer — a British newspaper — by Will Hutton, states: "Wolf is tough on China's role in all of this and his book will be very unpopular with the Politburo and Chinese Communist party, which want to blame the hegemonic US for the crisis." White House public talking points cite "Wall Street greed" and the shortcomings of our health, energy, carbon and education policies as major causes of the crisis. It would appear that the president's senior economic adviser may have a somewhat different point of view. Both the administration and the two major parties in Congress owe the public their best non-ideological, nonpartisan public analysis of the causes of the current conditions. The financial re-regulation decisions they make may well decide whether our grandchildren live in prosperity or poverty. Let's not rush to write and pass this fateful legislation, as we did with previous economic legislation, until the public and the government know what we are doing — and the politics permit an honest discussion. Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. Archives Tony Blankley is executive vice president of Edelman public relations in Washington. Comment by clicking here. © 2009, Creators Syndicate

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