Day traders and their acolytes tried to pressure the Federal Reserve to open the money spigots wider this week. Fortunately, the Fed said no to QE3, at least for now. But it did vote to continue its super-easy, zero-interest-rate policy until mid-2013, well after the next presidential election.

Government regulations have protected the banks but failed to protect the American people.

Deferring to a Democratic Congress on the stimulus seemed like smart politics--but nothing is free in politics.

Aloose monetary policy is necessary to head off an economic downturn that is coming our way.

If a country adopts market-oriented policies of privatization and deregulation, foreign lenders and investors are willing to finance development.