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May 25, 2012

Rabbi Yonason Goldson: Thinking About Faith
Mark Clayton: Is Hillary's State Dept. hacking Al Qaeda? Not quite
David G. Savage: Supreme Court limits protection against double jeopardy
Ashley Powers: A nightmare, then conviction is tossed
Erika Bolstad: Temple cancels Wasserman Schultz speech
Deroy Murdock: WWII hero Karski to receive U.S. Medal of Freedom
Kimberly Lankford: Health Coverage for College Grads
The Kosher Gourmet by Ethel G. Hofman: The former president of the International Association of Culinary Professionals, whose members included the likes of Julia Child, is back with contemporary Shavous cuisine: Ruby Fruit Soup, Sweet Noodle Kugel with Cheese, Key Lime Curd, Calsone Casserole Frittata with Wild Mushrooms, Sun-dried tomatoes and Olives, Baked Tilapia with Pepper Cheese Cream and Brown Sugar Shortbread
May 24, 2012
Jeff Jacoby: The peace process battered Israel's reputation
Clifford D. May: What Iran's Rulers Want
Michael Muskal: 'Pro-choice' position hits record low, according to poll
Chris Farrell: Are We in a Tech Bubble?
Kimberly Lankford: Switching Medicare Advantage Plans Mid-Year
Bryan McIver, M.B., Ch.B., Ph.D.: Mayo Clinic Medical Edge: Understanding hyperthyroidism and its variety of treatment options
The Kosher Gourmet by Penelope Wall: PHILLY CHEESE STEAKS --- hold the steak!
May 23, 2012
Ex-CIA spy in Iran's Revolutionary Guard: Baghdad talks highlight Western naivete
Tony Pugh: More private colleges offering tuition discounts
Lisa Gerstner: 4 Money-Etiquette Questions Answered
Mary Beth Franklin: How to Choose the Right Annuity for You
Art Markman, Ph.D.: Get smart: How to bulk up your creativity muscles
Tina Susman: The wig wasn't enough: Man gets 13 years for posing as his dead mom
The Kosher Gourmet by Emma Christensen:A simple way to do fish right
May 22, 2012
David S. Cloud and Kathleen Hennessey: Obama changes mind on Pakistan invite to NATO summit --- and then gets dissed by country's president
Warren Richey: Can US group challenge overseas surveillance act? Supreme Court to decide
Thomas M. Anderson: Walking Away From a Mortgage
Environmental Nutrition editors: The lowdown on a low-acid diet
The Kosher Gourmet by Megan Gordon: Enjoy a celebration of the most rich and layered flavors: Black bean, sweet potato and quinoa chili
May 21, 2012
Mark Clayton: Cybersecurity: How US utilities passed up chance to protect their networks
Howard LaFranchi: NATO summit: Who will foot the bill for long-term Afghanistan security?
Chris Farrell : Earn Dividends in Emerging Markets with This WisdomTree ETF
James K. Glassman: 5 Stock Picks Among Online Retailers
Stephen Whiteside, Ph.D. : Mayo Clinic Medical Edge: Social anxiety disorder --- or just shy?
Guy Jackson : Victim's father regrets death of Lockerbie bomber
The Kosher Gourmet by Mario Batali: Famed chef's veal shoulder farsumagru: A festive meat course for late spring
May 18, 2012
Rabbi Berel Wein: Striving: The People of the Book's Book for (All of) the People
Caroline B. Glick: Embracing dangerous delusions and not our friends
Steven Goldberg: 5 Great Stock Picks and the Exchange-Traded Fund that Owns Them
Janet Bodnar: How to Teach Kids to Handle Credit Cards
Mary Pickett, M.D.: Ask the Harvard Experts: Don't be forced into gluten-free lifestyle based merely on a doctor's false-positive test
The Kosher Gourmet by Carolyn Malcoun: DIY healthy lunchbox treats: HOMEMADE FRUIT BARS for kids and brown-bagging adults alike
May 17, 2012
Warren Richey: Teacher fired for being unwed and pregnant can sue religious school, court rules
Josh Mitnick: Netanyahu's 'centrist' coalition is already proving it's anything but
Steven Goldberg: Earn Dividends in Emerging Markets with This WisdomTree ETF
Mary Beth Franklin: Retirement Savings Tips for New Grads
Amina Khan: Research links coffee to lower death rates
Chelsea Sheasley: Social media: Is it too feminine?
The Kosher Gourmet by Faith Duran : Cheesy Potato Breakfast Casserole with Cheddar and Sun-Dried Tomatoes
May 16, 2012
Jackson Holahan: The Aleppo Codex
Jonathan Tobin : Iran Declares Victory in Nuclear Talks
Anne Kates Smith: 7 Stocks That Let You Sleep Tight
Carmen Terzic, M.D., Ph.D. : Mayo Clinic Medical Edge: A variety of exercises can help improve balance
Melissa Healy: National strategy on Alzheimer's disease aims to halt it by 2025
The Kosher Gourmet by Joyce White : GOODNESS GRACIOUS: GREENS! 4 winning recipes that are no longer just for down-home folks (Includes expert tips & techniques)
May 15, 2012
Dennis Prager: God and Man at (and for) Liberty
Kristen Chick: Obama administration resumes arms sales to Bahrain despite serious unresolved human rights issues. Activists feel abandoned
Pat Mertz Esswein: Homes are now affordable again and mortgage rates are low. What you need to know before you buy
Kathy Kristof: Our Practical Investor Fights Inflation with These 6 Investments
Sue Hubbard, M.D.: The Kid's Doctor: Lactose intolerant young child? Check again
Environmental Nutrition Editors: Get the facts on palm sugar sweetening
The Kosher Gourmet by Kathy Hunt: Spread a Little Excitement with EXOTIC CONDIMENTS (4 RECIPES)
May 14, 2012
Richard Simon: Purple Hearts for domestic terror victims?
Nando Pelusi, Ph.D.: The privacy paradox: Surrounded by strangers, we risk isolation, anxiety
Chris Farrell: Investing Lessons from the Great Recession
Lisa Gerstner: How to Protect Your Identity, Finances If You Lose Your Phone
Harvard Health Letters: Heart disease and dementia
Tiffany O'Callaghan: New hormone mimics effects of exercise without the sweat
The Kosher Gourmet by Megan Gordon: MANGO COCONUT OAT MORNING MUFFINS are a bright but hearty delight
May 11, 2012
Rabbi B. Shafier: Why happiness will always be elusive
Charles Krauthammer: Echoes of '67: Israel unites
Howard LaFranchi: With G8 snub, US-Putin 'reset' off to stumbling start
Jeremy J. Siegel: Investors, Relax About Rising Interest Rates
Jessica L. Anderson: Get the Best Deal on a Used Car
Jett Stone: Forget face-lifts and fake knees. Scientists have seen the fountain of youth --- and it's broccoli
The Kosher Gourmet by Chef Mario Batali: The famed chef's vegetable dish that tastes true to the season: FAVAS AND SUGAR SNAP PEAS WITH POTATOES AND TARRAGON
May 10, 2012
Clifford D. May: The Real Palestinian Refugee Problem
Sergei L. Loiko: Putin sends warning to U.S., NATO in Victory Day speech at Red Square
Mary Rourke: How being a 'mentch' got Vidal Sasoon his start and fighting in Israel's War of Independence provided him with confidence and a strong sense of his own identity
Harvard Health Letters: Palliative care: Underused therapy yields surprising benefits
Jeff Bertolucci: Get Home Phone Service for Less Than $10 a Month
Rachel L. Sheedy and Susan B. Garland : Make the Right Moves to Boost Benefits
The Kosher Gourmet by Betty Rosbottom: Gleaming with its golden, crimson, and snowy white hues, this silken smooth and creamy STRAWBERRY ORANGE TRIFLE looks impressive, but is easy to prepare
May 9, 2012
John Rosemond: Parents, stop destroying the American male
Valerie J. Nelson: Maurice Sendak, author of 'Where the Wild Things Are,' dies at 83
Bob Frick: Angst Over Annuities
Sharon Palmer, R.D. How you can reduce your risk -- or delay -- chronic diseases associated with aging
Howard LeWine, M.D.: Ask the Harvard Experts: Why did my blood pressure suddenly shoot up?
Lisa Gerstner: Lower the Rate on All Your Loans
The Kosher Gourmet by Emily Ho : Springtime soba with miso sauce offers a coloful mix of fresh textures and flavors
May 8, 2012
Edmund Sanders: Netanyahu suddenly cancels new elections, forms unity government
Frank J. Gaffney Jr.: Farewell to European superstate
Anne Kates Smith: 4 Stocks That Mimic Buffett and Berkshire Hathaway
Gaia Vince and Clare Wilson The Rise of Miniature Medical Robots: Fantasy Fast Becoming Reality
Paul Takahashi, M.D.: Mayo Clinic Medical Edge: Never suffer night leg cramps
Jessica L. Anderson: Extended-Warranty Warning
The Kosher Gourmet by Diane Rossen Worthington: Celebrate National Chocolate Chip Day with the Best Cookie Ever (Includes techniques)
May 7, 2012
Mark Clayton: Homeland Security warns major cyber attack aimed at gas pipeline industry underway
Angus Roxburgh: Putin Decoded: World view of a Russian feeling dissed
Kimberly Lankford: Navigate a Course for Long-Term Care
Kevin McCormally How to Adjust Your Tax Withholding
Celeste Robb-Nicholson, M.D.: Harvard Health Letters: How do you treat a Baker's cyst?
Joanne Capano: Healthy Snacks for Children: The Choices May Surprise You
The Kosher Gourmet by Penelope Wall: Classic Creamy Spinach Dip with a Fraction of the Calories and Fat
May 4, 2012
Rabbi Nathan Lopes Cardozo: Holy 'trivialities'
Jonathan Tobin: Bibi v. Barak will be no contest this time around
Steven Goldberg: Blue Chip Stocks On Sale Worldwide
Art Pine Slow Productivity Growth a Blessing --- For Now
Sue Hubbard, M.D. : The Kid's Doctor: Are Kids Too Wired?
Kerri-Ann Jennings, M.S., R.D: Foods that are good for your smile
Amy Paturel, M.S., M.P.H.: Eating Well: Foods that are good for your smile
The Kosher Gourmet by Betty Rosbottom: Strawberry rhubarb parfaits are elegant yet simple to assemble
May 3, 2012
Michael Freund: Who's Afraid of the Messiah?
Clifford D. May: The Foggiest War
Susan B. Garland: Insurance to Cover Old Old Age
Steven Goldberg 6 Reasons to Bet on a Big Bull Market
Harvard Health Letters: Treating prostate cancer --- no rush to judgment
Larry Gordon: Harvard, MIT partner to offer free online courses
Naomi Nix : Man gets free trip to Chicago after postcard sent by mother in 1957 finally reaches him
The Kosher Gourmet by Diane Rossen Worthington: Intensely Italian vegetable frittata is a seriously simple standby


Jewish World Review March 29, 2011 / 23 Adar II, 5771

It's BACK! The Return of Stagflation

By Paul Greenberg


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http://www.JewishWorldReview.com | Some of us have seen this movie before -- and didn't much like it the first time.

The cast might have changed but the plot is the same: A president thinks he can keep spending-and-taxing, running up deficits and adding to the national debt, but escape the inescapable result: rising inflation. More dollars, less wealth. Why work, save, invest, put in overtime or start a business if the dollars you earn are worth less and less? Inflation is the most insidious of taxes, eroding people's savings, salaries, initiative.

As the economy stagnates, national morale turns into national malaise. Consumer confidence drops, and so does American confidence in general. The series of interlocked, complex operations that is the American economy starts to sputter.

Then comes the decisive blow: Unrest in the Middle East raises the price of oil to extortionate levels. It happened to Richard Nixon's presidency, then Jimmy Carter's. The oil shock ripples through the rest of the economy. Price controls -- and restrictions on domestic oil production -- only aggravate the crisis.

The result: long lines at the pump, shortages in general, and ever higher prices. The country reaps the worst of both undesirable worlds: stagnation and inflation. A new word has to be coined to describe the new combination: Stagflation. Unemployment, inflation, interest rates, all hit double digits. The misery index, unemployment plus inflation, rises sharply.

People feel trapped. As if they were on a treadmill headed down, down, down while prices keep going up, up, up. And there seems no way to get off. The intellectuals begin writing think pieces not about how to create the conditions for a robust recovery, but how to handle America's inevitable decline in the world. The country's leaders make empty excuses, put off the hard decisions necessary to reverse course, and temporize in general. Frustration grows. A sense of futility spreads. That's stagflation.

Today's sequel -- call it Stagflation II -- has only started filming. There is still time to yell "Cut!" before the unhappy ending is upon us again. But will this president wake up in time? So far he's been sleeping through the opening scenes.

Somebody needs to turn on the house lights and stop this production while there's still time. There's no shortage of decisive actions waiting to be taken. See the Bowles-Simpson report, with its list of ways to balance the budget. But there's little will to enact them. Somebody's favorite ox, or even calf, might be gored. And so the great ship that is the American economy stays on the same disastrous course, taking on water as it drifts toward ... the falls.

Now, now, we're told, let's not be alarmist. There's nothing here that can't be explained away by the experts. Sure, inflation is growing ("February consumer prices up 0.5 percent" -- news item, March 18, 2011.) And the details behind the headline are scarcely assuring: "Consumer prices in the U.S. climbed more than forecast in February, led by the highest food prices since 2008 and rising fuel costs. The Consumer Price Index increased 0.5 percent, the most since June 2009, figures from the Labor Department showed Thursday in Washington...."

But strip out the cost of fuel and food, we're assured, and "inflation is relatively subdued." That kind of unassuring assurance makes one wonder: Does whoever compiles these numbers pump his own gas or buy his own groceries? If so, hasn't he noticed what's happening? And it's happening to the core of the economy. For who can get by without food and fuel?

What, Washington worry? The administration's budgeteers are still having fun with numbers. And still getting caught at it. To quote one, all too typical headline the other day: "Obama's budget is seen/ underestimating deficits." No kidding?

Alas, at least for the administration, there's always some spoilsport around who insists on blowing the whistle: "WASHINGTON (Bloomberg News) -- President Barack Obama's 2012 budget would produce $2.3 trillion more in deficits over the next decade than the administration projects, according to the Congressional Budget Office." Is anybody surprised? What'll we find out next, that the projections for how much ObamaCare will cost are skewed, too? That won't surprise anybody who's been paying attention, either.

As the economy hurtles on, following this too familiar script, what's most conspicuous -- by its absence -- is any constancy of purpose on the part of all the president's men. One day they're pushing an economic stimulus package -- Full speed ahead, inflation be damned! -- and the next issuing pro forma warnings about the danger of federal deficits out of control.

There seems to be no single guiding principle at work, just a series of fits and starts in response to the crisis of the moment. In that respect, the president's economic policy matches his foreign policy: React to today's events rather than shape tomorrow's.

It's hard to avoid the impression that once again the country is in the slippery grip of an ad-hocracy with no fixed purpose. But that's not quite right. This president does share one overriding concern with every other officeholder: his re-election. That seems to be his pole star; his every action is guided by it. If he has an ideology, that's it.

The conspiracy theorists are wrong: Barack Obama isn't engaged in some insidious plot to turn the United States of America into just another European-style social democracy. That could be the result of all his twists and turns, but it's scarcely a conscious goal. It's just where we're drifting. And will continue to drift till the American people themselves wake up and decide to reverse course.

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