Free Republic

Wharton finance professor Jeremy Siegel said he thinks the Federal Reserve is underestimating the degree to which inflation will be a problem, likely forcing the central bank into a sharper pivot away from stimulus and potentially catching markets off guard. Siegel, known for upbeat forecasts, made the gloomy prediction in an interview on CNBC on Oct. 1, saying he thinks “we’re headed for some trouble ahead.” “Inflation, in general, is going to be a much bigger problem than the Fed believes,” Siegel said, adding that he believes the persistence of elevated prices is going to pressure the Fed to accelerate...

GREENS leader Bob Brown has pinned the blame for the Queensland floods on the coal industry. He says the sector's contribution to global warming is responsible for the extreme weather conditions causing the floods. Senator Brown said yesterday the "coal barons" should be made to pay for the damage caused by natural disasters, with half of Canberra's planned mineral resources rent tax set aside for a repairs fund. "Burning coal is a major cause of global warming," he said. Coalition regional development spokesman Barnaby Joyce said it was absurd for Senator Brown to blame the coal industry for floods, which...

Election Day 2008 must have been filled with rueful paradoxes for the sitting president. Iraq -- the issue that dominated George W. Bush's presidency for 5 1/2 bitter, controversial years -- is on the verge of a miraculous peace. And yet this accomplishment did little to revive Bush's political standing -- or to prevent his party from relegating him to a silent role. The achievement is historic. In 2006, Iraq had descended into a sectarian killing spree that seemed likely to stop only when the supply of victims was exhausted. Showing Truman-like stubbornness, Bush pushed to escalate a war that...