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http://www.naharnet.com/stories/en/263800-hariri-un-us-will-participate-in-negotiations-on-maritime-borders
● https://www.israelhayom.com/2019/08/20/taking-cue-from-hamas-hezbollah-brings-arson-terror-to-northern-border/ ● https://www.thenational.ae/business/economy/lebanon-debt-downgrade-market-discipline-or-voluntary-reforms-1.901289 ● https://www.fdd.org/analysis/2019/08/20/paraguay-designates-hezbollah-as-a-terrorist-organization/
https://www.fdd.org/analysis/2019/08/19/politics-vs-protocol/
● https://www.fdd.org/wp-content/uploads/2019/08/fdd-report-politics-vs-protocol-irans-nuclear-archive-and-the-iaeas-responsibilities.pdf ● https://www.reuters.com/article/us-mideast-iran-tanker-greece/u-s-will-act-if-iranian-tanker-tries-to-deliver-oil-to-syria-pompeo-idUSKCN1VA104?feedType=RSS&feedName=worldNews ● https://www.jpost.com/Middle-East/New-IAEA-chief-candidates-could-be-in-conflict-with-US-Israel-on-Tehran-596489  Milton Friedman On What Drives Economic Progress
featuring Milton Friedman via Wall Street Journal In this animation from a “Friedman Fundamentals” video series by PolicyEd and the Hoover Institution, Milton Friedman demonstrates how the great achievements from civilization have come from individuals pursuing their separate interests, not government.  The Reader's Guide To Optimal Monetary Policy by John H. Cochrane via Grumpy Economist The Reader's Guide to Optimal Monetary Policy is a snazzy new website created by Anthony Diercks and Cole Langlois at the Federal Reserve Board. When the last Soviet leader learned a lesson in economics
James Pethokoukis | AEIdeas One of the big themes in "Gorbachev: His Life and Times" by William Taubman is an exploration of how the Soviet system ever produced someone like Mikhail Gorbachev.  The Fed Is Courting Disaster by Leaving Interest Rates Too Low Nicole Gelinas, New York Post This week, the Federal Reserve likely will vote to cut interest rates — when it should be raising them. If the economy is so dependent on low interest rates that a near-record-low rate of 2.4 percent isn’t low enough, there is something wrong with the economy, and piling on more cheap debt will make the crash that much harder. Since the financial crisis of more than a decade ago, America and the world have gotten dangerously addicted to debt. The Fed has fed the addiction. Read more here.... In Defense of Hometowns A Federal Reserve report warns about Americans’ declining mobility—but should remaining committed to one’s community be regarded as a fault? The Fed Needs A Radical New Approach
mentioning John B. Taylor via Bloomberg It should change not only the way it makes policy but also the way it talks about it.  Key Takeaway: The Islamic Revolutionary Guards Corps (IRGC) is expanding its economic influence and role in the Iranian regime’s effort to mitigate US sanctions, possibly seeking to outcompete the Rouhani administration. READ here. Iran-Backed Militias Are In Iraq to Stay Prime Minister Mahdi is trying to bring the Popular Mobilization Forces under control of the government, but even he probably knows it won’t work. Iran's Resistance Needs A Light Touch, Not 'Maximum Pressure' quoting Abbas Milani via Bloomberg Trump could help the democracy movement while hurting the regime. Opposing the Iranian regime doesn't have to mean sanctioning its banks and oil. Just ask Abbas Milani. The director of Stanford University’s Iran studies program cannot be called a squish when it comes to Iran; he has devoted much of his scholarship to the regime’s struggle against modernity and to understanding the country’s democracy movement. US should sanction Iran's incendiary kingmaker
(The Hill) Meet Ayatollah Ahmad Jannati, 92, who heads two powerful committees responsible for appointing Iran’s supreme leader, vetting candidates for key elected offices, and screening legislation passed by Iran’s parliament — all to ensure fidelity to the regime’s theocratic constitution and Islamist creed.  The Inescapable Tragedy of Postliberalism
by James R. Rogers We can’t recover both economic localism and personalism to any significant degree and still maintain anything close to modern living standards. Read More »  To Fight Terrorists, Follow the Money Prosecuting money launderers is the best way to stamp out terrorism and corruption.
 New Papers
by John H. Cochrane via Grumpy Economist I've been remiss about blogging lately while I finished two new papers, "The Fiscal Roots of Inflation," and "The Value of Government Debt." I'm posting here for those who might be interested, and I appreciate comments.  IMF releases final tranche of $12 billion loan to Egypt
The International Monetary Fund (IMF) on Wednesday approved the release of the final $2 billion in a $12 billion loan package to Egypt. “Egypt has successfully completed the three-year arrangement under the Extended Fund Facility and achieved its main objectives,” IMF Acting Managing Director David Lipton said in a statement. Lipton praised the Egyptian economy’s performance, attributing it to Cairo’s fiscal reforms. In addition to floating Egypt’s currency exchange rate, the unpopular austerity measures have included cuts in electricity and fuel subsidies. Read More The Classicist: Thinking Strategically About Iran interview with Victor Davis Hanson via The Classicist Why restraint with Tehran may be the most effective position for national security hawks.   US sanctions Iraqis tied to Iran-backed militias
The Treasury Department on Thursday sanctioned two former provincial governors and two militia leaders in Iraq, citing human rights violations in Ninevah province, the home of a diverse Christian minority. The two militia leaders — Rayan al-Kildani and Waad Qado — both head divisions within Iraq’s Popular Mobilization Units (PMU). Kildani is leading a Christian militia within the PMU umbrella. The sanctions also target two former governors — Nawfal al-Akoub of Mosul and Ahmed al-Jubouri of Salahuddin province. Akoub fled Mosul last year after Baghdad sacked him over corruption charges following the capsizing of an overloaded ferry that killed some 100 people. Washington accuses Jubouri of working with “Iran-backed proxies that operate outside of state control.” Read More  The National Liberation Army in Colombia and Venezuela: Illicit finance challenges stemming from illegal mining
Andrés Martínez-Fernández | American Enterprise Institute  Decentralise & Invent New Growth Model: Raghuram Rajan featuring Raghuram Rajan via The Time of India Former RBI governor Raghuram Rajan and Congress’s overseas unit chief Sam Pitroda have criticized the BJP government for proposing to make a nation based on "single idea (of Hindutva) and have also called for India to move away from authoritarianism and centralized control to strengthen its democracy. Raghuram Rajan: How Markets And The State Betray Communities interview with Raghuram Rajan via The Wharton School of the University of Pennsylvania Hoover Institution fellow Raghuram Rajan talks about his new book, as well as India, China, and a host of other topics. Is politics getting to the Fed?
Robert J. Barro | Project Syndicate In the early 1980s, the chairman of the US Federal Reserve, Paul Volcker, was able to choke off runaway inflation because he was able to implement steep interest-rate hikes. Today, the Fed is clearly under political pressure, and it is starting to show. 
Make America’s deficits great again
Desmond Lachman | The Hill An undisciplined budget policy at a time of economic strength limits the scope for fiscal policy support at a time of economic weakness.  MILTON EZRATI
Required Economic Reading An important new book offers clear insights about austerity policy.
To Fight Terrorists, Follow the Money
By Emanuele Ottolenghi, Foundation for Defense of Democracies: “Prosecuting money launderers is the best way to stamp out terrorism and corruption."  Is Economic Development The Key To Mideast Peace?
by Michael J. Boskin via Project Syndicate Now that the Trump administration has offered a blueprint for economic development and reform in the Palestinian territories, the opportunity costs of maintaining the status quo are clear for all to see. Although the Palestinians remain opposed to the plan, at least now they can start to consider the economic potential of peace.  What Democratic Socialism Does To Economic Prosperity
by Lee Ohanian via PolicyEd Democratic socialism diminishes economic prosperity and ultimately requires a return to market-based policy.  The Medal of Freedom in Economics Editorial of The New York Sun | June 22, 2019
https://www.nysun.com/editorials/the-medal-of-freedom-in-economics/90739/ It turns out that President Trump's presentation Wednesday of the Medal of Freedom to the supply-side economist Art Laffer coincided with a record-high of the stock market -- at least as measured by the Standard & Poor's 500. That is nicely marked in the latest number of the FutureOfCapitalismblog, edited by our columnist Ira Stoll. He notes that the market's apex was hit despite the war-clouds scudding out of Iran. Continue Reading 
Recent Decisions And Rules Of The Fed
by John B. Taylor via Economics One Last week, after attending monetary policy conferences at Stanford, Chicago and Frankfurt, I put forth evidence in EconomicsOne.com of a revival of research on monetary policy rules for the instruments, whether at the conferences, in research papers, or in Fed publications. I offered possible explanations for the revival, also with evidence, including revealed preference by policymakers, the need to deal with the effective lower bound, disappointments with past departures from rules, threats of legislation, and concerns about political pressure.
A Revival Of Research On Monetary Policy Rules For The Instruments
by John B. Taylor via Economics One Recently I had the opportunity to participate in several conferences on monetary policy: the annual Hoover monetary policy conference at Stanford in May, the 2019 Fed Review conference in Chicago in June, and the Macro Model Comparison Conference in Frankfurt also in June. There are many takeaways, but one was very evident. I will call it a “Revival of Research on Monetary Policy Rules for the Instruments.” |
AuthorAn authority on Civil-Military Relations; Southwest Asian Political Economy, and Pentagon Acquisition Reform . 
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