Hoover Daily Report
Featured
Featured

Volalitily, Now The Whole Thing

by John H. Cochrane via Grumpy Economist
Monday, January 14, 2019

An essay at The Hill on what to make of market volatility, from Dec 31. Now that two weeks have passed, I can post the whole thing. I add some graphs too. (Though at the rate things are going any forecast will have been proved wrong in two weeks!) What’s causing the big drop in the stock market, and the bout of enormous volatility we’re seeing at the end of the year?

Featured

Emergency Power Statutes: President Trump And The Courts

by Adam J. Whitevia Commentary
Saturday, January 12, 2019

“It’s a lot easier to act presidential than to do what I do,” President Trump told a Tampa audience this summer. He’s wrong, and it may have real-world implications if he invokes federal “emergency” statutes to unilaterally build a Mexican border wall.

Featured

Area 45: The Lowdown On The Shutdown With David Brady

interview with David Bradyvia Area 45
Tuesday, January 15, 2019

Has the Shutdown which is based on funding for the border wall hurt or helped President Trump’s popularity?

Featured

With Permanent Water Rationing On The Way, Californians Pray For Rain

by Lee Ohanianvia California on Your Mind
Tuesday, January 15, 2019

About four years ago, President Obama flew to California and joined Governor Jerry Brown and US Senators Dianne Feinstein and Barbara Boxer in a visit to a parched Central Valley town to discuss the state’s extreme drought and water shortage.

Featured

‘Africa Is At A Turning Point’: Hoover Series Examines Governance Challenges On A Growing Continent

featuring Hoover Institutionvia Stanford Daily
Tuesday, January 15, 2019

“Just as we used to tell people, ‘Go west — that’s where things are opening up, growing, dynamic,’” said Jack Goldstone, public policy professor at George Mason University, “I will say to people, ‘Go South,’ because for the next fifty years, Africa is going to have… critical impact on the growth of the [global] economy.” To address this economic opportunity and the challenges to governance arising from it, five Africa experts gathered at the Hoover Institution’s Hauck Auditorium for a “Governance in an Emerging New World” panel on Africa’s development.

Analysis and Commentary
Analysis and Commentary

The Greatness Of Harold Demsetz

by Richard A. Epsteinvia Defining Ideas
Monday, January 14, 2019

America has lost one of its most powerful and original economic minds.

Analysis and Commentary

The New, New Anti-Semitism

by Victor Davis Hansonvia National Review
Tuesday, January 15, 2019

The old anti-Semitism was mostly, but not exclusively, a tribal prejudice expressed in America up until the mid 20th century most intensely on the right. It manifested itself from the silk-stocking country club and corporation (“gentlemen’s agreement”) to the rawer regions of the Ku Klux Klan’s lunatic fringe.

The Classicist with Victor Davis Hanson:
Analysis and Commentary

The Classicist: Immigration, Assimilation, And The Wall

interview with Victor Davis Hansonvia The Classicist
Tuesday, January 15, 2019

Why tougher immigration enforcement would lead to more diversity.

Analysis and Commentary

Money Doesn’t Stink

by Bruce Thorntonvia FrontPage Mag.com
Tuesday, January 15, 2019

In his biographies of the Roman emperors, Suetonius describes a conversation between Vespasian and his son Titus, who disapproved of his father taxing the urine that tanners and other industries collected from public restrooms: “When Titus found fault with him for contriving a tax upon public conveniences, [Vespasian] held a piece of money from the first payment to his son’s nose, asking whether its odor was offensive to him. When Titus said ‘No,’ he replied, ‘Yet it comes from urine.’”

Analysis and Commentary

A New Sacred Use For An Old Trophy Of War

by Andrew Robertsvia Military History in the News
Monday, January 14, 2019

Military History is rarely out of the news in Russia, and this month it was announced that a new Army Cathedral there will have its front steps made out of melted-down tanks seized from the Germans in the Great Patriotic War of 1941–45. President Vladimir Putin, whose pet project this is, has raised 1.8 billion roubles (£20.9 million, $26.8 million) for a three hundred-foot high brand-new Main Cathedral of the Armed Forces in Patriot Park, a military theme park 40 miles from Moscow.

Analysis and Commentary

The Supreme Court Should Make Politics Local Again

by John Yoo, James C. Phillipsvia National Review
Tuesday, January 15, 2019

With President Trump in the Oval Office, liberals who sought broad national powers during the Obama years have discovered the virtues of federalism. On issues from immigration to the environment to drug policy, they rely on states’ rights to chart a path at odds with that of Washington, D.C.

Analysis and Commentary

Trumpman’s Winning Wall

by Niall Fergusonvia Boston Globe
Monday, January 14, 2019

As so often, “South Park” saw it coming. In “The Last of the Meheecans”— which first aired back in October 2011 — the obnoxious Cartman joins the US Border Patrol, only to find himself facing the wrong way as hordes of disillusioned Mexican workers seek to flee the economically depressed United States back to Mexico.

Analysis and Commentary

Don’t Expect This Impasse To End Anytime Soon

by Lanhee J. Chenvia Townhall
Tuesday, January 15, 2019

A funny thing has happened to Chuck Schumer, Nancy Pelosi, and other Democrats on their way to opposing President Trump’s border wall. They’ve forgotten their own past. Time and again, Democrats have voted to fund border security. And, just a few weeks ago, they agreed to spend nearly $2 billion toward construction of the very physical barrier that President Trump has repeatedly called for.

Analysis and Commentary

What The New Governor Can Do To Honor California’s “Practical Majority”

by John Pimentelvia Eureka
Wednesday, January 9, 2019

Governor Newsom: With comfortable Democratic supermajorities in the Legislature and a healthy budget surplus, you are in a great position to improve the lives of all Californians.

Analysis and Commentary

Vignettes On Harold Demsetz

by David R. Hendersonvia EconLog
Monday, January 14, 2019
I got a nice note from Sam Peltzman this morning about my WSJ piece on my teacher and his colleague Harold Demsetz. I responded to Sam that I had a great Demsetz story to tell him that involved him. I’ll tell that and then I’ll tell one that Harold told at the June 1 and 2, 2012 Harold Demsetz Conference that UCLA held.
Analysis and Commentary

Lipow On Stiglitz On Green New Deal

by David R. Hendersonvia EconLog
Tuesday, January 15, 2019

My former colleague at the Naval Postgraduate School Jonathan Lipow posted something on Facebook that I think deserves wider readership. We don’t see eye to eye on everything and we don’t even see eye to eye on what’s in his Facebook post. But he says it well and makes some valid points.

Interviews
Interviews

Richard Epstein On The John Batchelor Show (Part 1)

interview with Richard A. Epsteinvia The John Batchelor Show
Monday, January 14, 2019

Hoover Institution fellow Richard Epstein discusses his Defining Ideas article "On The Basis Of Sex."

The Supreme Court
Interviews

Richard Epstein On The John Batchelor Show (Part 2)

interview with Richard A. Epsteinvia The John Batchelor Show
Monday, January 14, 2019

Hoover Institution fellow Richard Epstein discusses his Defining Ideas article "On The Basis Of Sex."

White House at night
Interviews

John Yoo On GPS: Are Emergency Powers Unlimited?

interview with John Yoovia CNN
Tuesday, January 15, 2019

Hoover Institution fellow John Yoo discusses what if any limits exist on presidential emergency powers.

In the News
In the News

Cough Up, America

quoting Lee Ohanianvia Town Talk
Monday, January 14, 2019

When you receive your paycheck and look at the withholding for federal, state and sometimes city taxes, along with Social Security and Medicare, you probably don't think you're underpaying governments and want them to take more. New York City Mayor Bill de Blasio believes that if you have played by what used to be called "the rules" and are making a decent living, taking care of yourself and your family and not relying on government, your taxes should be increased.

In the News

Do Economic Booms Die Of Old Age?

quoting Robert E. Hallvia Bloomberg
Thursday, January 10, 2019

Ben Bernanke got a big laugh from economists in Atlanta on Jan. 4. A few minutes after Janet Yellen said, “I don’t think expansions just die of old age,” he replied, “I like to say they get murdered.” All right, not that funny. But the nerdy repartee between the past two Federal Reserve chairs at the annual meeting of the American Economic Association reveals how central bankers think about recessions—and says something about how likely it is that the U.S. will tip into one over the next year.

In the News

Did The FBI “Overstep” By Investigating Trump?

quoting Jack Goldsmithvia The New Republic
Monday, January 14, 2019

There's reason to be concerned about the bureau's actions. But there's also reason to believe they made the right call.

In the News

Barr’s Memo Backing Trump’s Power Isn’t Crazy, Just Wrong

quoting Jack Goldsmithvia Bloomberg
Monday, January 14, 2019

The Justice Department has said before that certain laws don’t apply the president, but this theory of obstruction of justice is different.

In the News

Trump Bullish On China Trade Deal Ahead Of Speech To US Farmers

quoting Martin Feldsteinvia The Wall Street Journal
Monday, January 14, 2019

[Subscription Required] President Trump on Monday said that China is feeling the pain from U.S. tariffs, boding well for a trade deal, but talks so far between the two nations haven’t yielded concrete results.

In the News

The Inspector General Should Review The FBI Counterintelligence Probe Into Trump

quoting Jack Goldsmithvia Lawfare
Monday, January 14, 2019

Like everyone else on Lawfare, I was struck by the recent New York Times story about the FBI opening a counterintelligence investigation into President Trump after he fired former FBI Director Jim Comey. It adds to my unease, not about President Trump but about the FBI.

In the News

Enlightenment Wars: Some Reflections On ‘Enlightenment Now,’ One Year Later

quoting Niall Fergusonvia Quillette
Monday, January 14, 2019

You wouldn’t think that a defense of reason, science, and humanism would be particularly controversial in an era in which those ideals would seem to need all the help they can get. But in the words of a colleague, “You’ve made people’s heads explode!” Many people who have written to me about my 2018 book Enlightenment Now say they’ve been taken aback by the irate attacks from critics on both the right and the left. Far from embracing the beleaguered ideals of the Enlightenment, critics have blamed it for racism, imperialism, existential threats, and epidemics of loneliness, depression, and suicide.