Hoover Daily Report
Analysis and Commentary
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Analysis and Commentary

The Futility of Gun Control

by Richard A. Epsteinvia The Libertarian
Tuesday, June 3, 2014

To stop mass killers, we should let people like off-duty police and security guards carry concealed weapons.

US Economy
Analysis and Commentary

Quantifying The Lasting Harm to the U.S. Economy From the Financial Crisis

by Robert E. Hallvia National Bureau of Economic Research
Tuesday, June 3, 2014
The financial crisis and ensuing Great Recession left the U.S. economy in an injured state. In 2013, output was 13 percent below its trend path from 1990 through 2007. Part of this shortfall—2.2 percentage points out of the 13—was the result of lingering slackness in the labor market in the form of abnormal unemployment and substandard weekly hours of work. The single biggest contributor was a shortfall in business capital, which accounted for 3.9 percentage points. 
US Flag
Analysis and Commentary

The Bergdahl Release Is Just the Beginning

by Victor Davis Hansonvia Corner (National Review Online)
Monday, June 2, 2014

There has been a lot to think about during these years of Obama’s foreign policy. But the problem is not just the existential issues, from reset to Benghazi, but also the less heralded developments, such as young non-high-school graduate Edward Snowden’s trotting off with the most sensitive secrets of the NSA, the “stuff happens” outing of a CIA station chief in Afghanistan, and the failure to destroy the downed drone that ended up in Iran.

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Analysis and Commentary

California Dreaming and Scheming: What To Look For On Primary Day

by Bill Whalenvia Eureka
Monday, June 2, 2014

From coast to coast, Americans will go to the polls on Tuesday. There’s an intriguing U.S. Senate race in Mississippi that may have turned on an alleged conspiracy to break into a nursing home and photograph the incumbent’s ailing wife. In Iowa, five Republicans competing in that’s Senate primary could so dilute the vote that no candidate will garner at least 35% of the sum – leaving the choice to a June 14 party convention to settle matters.

Smartphone Image
Analysis and Commentary

Ten Amusingly Irreverent Tweets at Conference on Fed

by John B. Taylorvia Economics One
Tuesday, June 3, 2014

So many members of the financial press were having a good time tweeting at the Fed Centennial conference last week at Stanford that, according the “TweetReach Report,” about 1 million Twitter accounts were reached and 10 million tweets were delivered about the hashtag #hooverfedconference.  Here is a photo of the post-conference press conference.

United States Postal Service truck
Analysis and Commentary

The Ambassador and the Post Office

by Thomas Sowellvia Creators Syndicate
Wednesday, June 4, 2014

At one time, people in India had to get on a waiting list to buy Hindustan Motors' Ambassador automobile, even though it was an obvious copy of Britain's Morris Oxford of some decades earlier. The reason was simple: the Indian government would not allow cars to be imported to compete with it.

Democrat's Donkey
Analysis and Commentary

The New Regressives

by Victor Davis Hansonvia Works and Days
Monday, June 2, 2014

Today’s liberalism is about as liberal as the Hellenistic world was Hellenic — a glossy veneer over a rotten core.

World War I recruiting poster, Great Britain.
Analysis and Commentary

Four myths about the Great War of 1914-1918

by Mark Harrisonvia VoxEu.org (Centre for Economic Policy Research)
Tuesday, June 3, 2014

As its centennial approaches, the events of the Great War have worldwide resonance. Most obviously, is China the Germany of today? Will China’s rise, unlike Germany’s, remain peaceful? The journalist Gideon Rachman wrote last year (Financial Times, February 4, 2013):

Tehran, Iran
Analysis and Commentary

Our Future Is 1979

by Victor Davis Hansonvia National Review Online
Tuesday, June 3, 2014

The final acts of the Obama foreign policy will play out in the next two years. Unfortunately, bad things happen when the world concludes that the American president has become weakened, distracted, or diffident about foreign policy.

California Politics
Analysis and Commentary

Is California a State Defined by Delusion?

by Carson Brunovia Real Clear Markets
Tuesday, June 3, 2014

In mid-May, speaking at a California Chamber of Commerce event, California Governor Jerry Brown made two statements that best encapsulate the feelings of Sacramento's elected leadership: "California is definitely back," Brown exclaimed followed by "this is a job creation engine."

Interviews
Narendra Modi
Interviews

Jeremy Carl on the John Batchelor Show (30:41)

interview with Jeremy Carlvia John Batchelor Show
Monday, June 2, 2014

Hoover research fellow Jeremy Carl discusses Narendra Modi and the Republican Party on the John Batchelor Show.

In the News
Federal Reserve
In the News

Fed Policy Rules: Made to be Broken?

mentioning John B. Taylor, Hoover Institutionvia Real Time Economics (Wall Street Journal)
Monday, June 2, 2014

Federal Reserve critics gathered at the Hoover Institution in Palo Alto, California last week focused on the need for consistent policy rules that suggest U.S. interest rates have already been too low for too long and should be moving higher.

Federal Reserve chair Janet Yellen.
In the News

Yellen’s comms adviser: more press briefings

mentioning Hoover Institutionvia Financial Times
Friday, May 30, 2014

Andrew Levin, a Fed staffer who worked extensively on Janet Yellen’s communication reforms when she was vice-chair, sets out a set of principles for central bank communications in a paper at today’s Hoover central banking conference.

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In the News

Stack Arms!

with Allan H. Meltzer, George P. Shultz, Hoover Institution, Lee Ohanian, John H. Cochrane via Economicprinciples.com
Monday, June 2, 2014

PALO ALTO — Former Secretary of State George Shultzrepeatedly stole the show last week at a Hoover Institution conference on central banking practices here, no time more decisively than when he pronounced a benediction on the conference dinner.

American Flags
In the News

There's No 50/50 Political Split in America. It's More Like 35/25/40.

featuring Morris P. Fiorinavia The Wilson Quarterly
Tuesday, June 3, 2014

Pity the state of American politics. Half the voters pull the country in one direction, and the other half stubbornly yank it the opposite way. Everybody seems to be screaming, not so much at each other as past each other. The United States is divided down the middle, the pundits say.

Interest Rates
In the News

Fed officials say rates should not be used to fight bubbles

mentioning Hoover Institutionvia Reuters
Friday, May 30, 2014

(Reuters) - A trio of Federal Reserve officials who disagree deeply with one another over the appropriate stance of monetary policy on Friday expressed a shared distrust for using interest rates to head off asset bubbles and other forms of financial instability.

Economic Crisis
In the News

Economy May Never Fully Recover from Crisis

quoting Robert E. Hallvia The Fiscal Times
Monday, June 2, 2014

Everyone has a vague understanding of the fact that the financial crisis and the Great Recession exacted a hellish price in terms of economic disruption, but nobody to this point has made the effort, or perhaps felt the need, to specifically measure the damage. - 

Stock Markets
In the News

Fed’s Plosser: Fed Should Adopt More Formal Policy Rule

mentioning John B. Taylor, Hoover Institutionvia Real Time Economics (Wall Street Journal)
Friday, May 30, 2014

The Federal Reserve should approach interest-rate policy more systematically by adopting a specific rule for guiding its actions and justifying any deviations from that rule to the public, Philadelphia Fed President Charles Plosser said Friday.

Economics Abstract
In the News

Fed’s Plosser ‘Encouraged’ by Accelerating Inflation

mentioning Hoover Institutionvia Bloomberg
Friday, May 30, 2014

Federal Reserve Bank of Philadelphia President Charles Plosser said he’s “encouraged” by a report today showing faster gains in prices while calling for vigilance as inflation moves closer to the Fed’s 2 percent goal.

California flag
In the News

Tomorrow's Primary May Have Lowest Voter Turnout Ever

quoting Bill Whalenvia KFBK
Monday, June 2, 2014

Will you be casting your ballot tomorrow? The California primary election is expected to draw a light voter turnout.