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May 22, 2013

John Thorne: They launched the 'Arab Spring' but now yearn for the good old days of a strongman

John Rosemond: 'Disciplinary math' adds up to parental successl

Warren Richey: Are prayers before public meetings OK? Supreme Court to decide
Rick Montgomery: Use of ADHD drugs as study aid raises concern on campuses

Brierley Wright, M.S., R.D.: 6 convincing reasons you should keep carbs in your diet

Eoin O'Carroll: Scientists examine nothing, find something

The Kosher Gourmet by Carole Kotkin: This soup is made from one of the great pleasures of spring: A wonderful pairing of rosy color and earthy tang

May 20, 2013

Richard A. Serrano: Is Meir Kahane's assassin now a changed man?

Hannan Adely: Town raises Palestinian flag at City Hall

Melissa Healy: Genetic copies of living people from embryos no longer science fiction
Morgan Housel: When smart investors do stupid things

Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving

Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star

The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting

May 13, 2013

Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation

David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church

Emily Alpert: Recession dragged down birth rates for less-educated women
Morgan Housel: The deep downside of home ownership

Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer?

Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems

The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche

May 10, 2013

Rabbi Berel Wein: Be all that you should be

Caroline B. Glick: The dirty little secret about Israel's Arabs

Mona Charen: Hawking's Moral Calculus: The man and the movement he embraces
Morgan Housel: The biggest retirement myth ever told

Sandi Doughton: Eyes may provide new insight into brain problems

Jewz in the Newz by Nate Bloom : The Great Gatsby's Jewish Ties; Jews in the "Time 100 list" List; People's Most Beautiful Women

The Kosher Gourmet by Linda Gassenheimer: A sweet-hot meal: Pear salsa spices up salmon

May 8, 2013

Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas

Warren Richey: Obama administration quietly backs out of appeal over new contraceptive mandate

Fred Weir: At Kerry-Putin meeting, US-Russia relations thaw --- a tad
Amanda Paulson: Study reveals sad truths about community colleges

Harvard Health Letters: Evidence weak that zinc, echinacea are beneficial

The Kosher Gourmet by Leela Cyd Ross : Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility

May 6, 2013

Edmund Sanders and Patrick J. McDonnell: Think Israel's objective in Syria is to weaken Assad or embolden the rebels? Think again

Brian Bennett: Israeli airstrikes may show weakness in Syrian defense

Michael Ollove: Millions of ex-felons, parolees and those on probation are about to be entitled to tax-payer paid health coverage
Karen Kaplan: Most men can skip PSA test for prostate cancer, urologists say

Kimberly Lankford: How to track down a lost life insurance policy

Dream of Mars exploration achievable, experts say

The Kosher Gourmet by Susan M. Selasky: EGGPLANT WRAPS are an easy, sumptuous and scrumptious meal

May 3, 2013

Rabbi Nathan Lopes Cardozo: Human Courage and the Unavoidable, Disturbing Text

Steven Emerson: Attorney General Fights CAIR in Court, Lauds it in Public

Mediterranean diet helps beat dementia: study
Harvard Health Letters: When to be screened for a hearing problem

Jewz in the Newz by Nate Bloom : Iron Man's Jewish Connections; Marc Maron's New TV Show; Martin Landau Grows Up with Israel; Shalom, Allan Arbus

The Kosher Gourmet by Diane Rossen Worthington: A sweet surprise for Mother's Day dessert

May 1, 2013

Jonathan Rosenblum: An Improbable Journey to Orthodoxy

Jonathan Tobin: Blame Obama, Not Israel for Syria Push

Kids, kittens the Same? With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Halena M. Gazelka, M.D.: Mayo Clinic Medical Edge: What you need to know about implanted pain relief devices

Sandy Kleffman: Artificial kidney offers hope to patients tethered to a dialysis machine

Jessica Shugart: When it comes to math, MRIs may be better than IQs

The Kosher Gourmet by Mario Batali: The celebrated chef on how high-maintenance ASPARAGUS RISOTTO need not be

April 29, 2013

Roy Gutman: Poland's new Jewish museum celebrates life, doesn't revisit Holocaust

Mark Clayton: Terrorism in America: Is US missing a chance to learn from failed plots?

Kim Murphy: Boston Bomber's 'Svengali' Revealed
Morgan Housel: He's rich, smart and old: Listen to him

Thomas Salinas, D.D.S.: Mayo Clinic Medical Edge: The safety of amalgam fillings

Harvard Health Letters: Tomatoes and stroke protection

Pete Spotts: Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA

The Kosher Gourmet by Diane Rossen Worthington: Swing into spring with lemon cream pie

April 26, 2013

Rabbi Abraham J. Twerski: The world is a mirror

Caroline B. Glick: Time to confront Obama

Clifford D. May: Defense in the Age of Jihadist Terrorism
Kimberly Lankford: New strategies ease pain of paying for long-term care insurance

Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen?

Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty

Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver)

The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead

April 24, 2013

Steven Emerson: Boston Bomber Exposes Islamist Secret

Morgan Housel Admit it: No one has any idea what's going on
Harvard Health Letters: Can you get headaches from headache medication?

Kerri-Ann Jennings, M.S., R.D.: How to easily get more Omega-3s in your diet

Melissa Healy: Pot in a pill: All the pain relief without the smoke

The Kosher Gourmet by Susan Russo: Chipotle Chili Butternut Squash Soup is bold, zesty, hot

April 22, 2013

Ken Dilanian: Counterterrorism's future is unclear

US man departing country arrested on terror charges
Barbara Williams: An unorthodox but growing treatment in a 9-year-old's battle against cancer

P.J. Skerrett, M.D.: How to recognize a good whole grain product

Jewz in the Newz by Nate Bloom: Teen actor Jonah Bobo in New Flick: Hunky James Wolk on Mad Men; Erich Segal's Daughter Writes Prize-Winning Jewish Novel


Jewish World Review August 28, 2008 / 27 Menachem-Av 5768

Mr. Smith in Washington? Sell!

By Jeff Jacoby

Jeff Jacoby
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http://www.JewishWorldReview.com | On July 5, 1930, a letter from Will Rogers was published in The New York Times.


"We sure had a great Fourth, especially after we picked up our morning papers and found that Congress had adjourned the night of the third," it began. "But our enthusiasm was immediately dampened, for the Senate are to meet again Monday, so that means that prosperity will pick up only 50 percent.


"This country has come to feel the same when Congress is in session as we do when the baby gets hold of a hammer," Rogers continued. "It's just a question of how much damage he can do with it before you can take it away from him. Well, in 18 months these babies have left a record of devastation."


Rogers was referring to the 71st Congress, which did indeed leave a record of devastation; its execrable Smoot-Hawley tariff helped bring on the Great Depression. The current Congress, the 110th, hasn't brought on a depression - not yet, anyway. Unfortunately, the House and Senate are scheduled to reconvene after Labor Day. And as Rogers noted, when Congress is in session the question is not whether the economy will suffer, but how much.


In some quarters it is popular to berate Congress for doing too little. In a page one story last week, The Wall Street Journal noted that over the last 20 years, "no sitting Congress has passed fewer public laws at this point in the session - 294 so far - than this one." For example, Congress still hasn't passed a single appropriations bill. By contrast, the House and Senate have taken up nearly 2,000 ceremonial resolutions, like the one designating July as National Watermelon Month or Representative John Olver's measure recognizing Pittsfield, Mass., as home to the earliest known reference to the word "baseball."


But the last thing sensible Americans should want is for senators and representatives to assemble and pass more laws. Only limited harm can result when members of Congress are off on junkets or the rubber-chicken circuit; it's when they gather en masse that they are most dangerous. "No man's life, liberty, or property are safe while the Legislature is in session," wrote Judge Gideon J. Tucker in 1866. What was true in the 19th century remains so in the 21st.


In fact, it's a quantifiable phenomenon. Scholars call it the "congressional effect" - markets tend to get nervous when Congress is in session, and generally perform better when it isn't. As economists Michael Ferguson and H. Douglas Witte have shown, the impact this tendency can have is dramatic. Analyzing stock returns since the Dow Jones Industrial Average was created in 1897, they found that an astonishing 90 percent of its gains occurred when lawmakers were on vacation. A dollar invested in the index's stocks in 1897 and converted back to cash whenever Congress recessed would have grown to just $2 by 2000. On the opposite strategy - investing in stocks only when the House and Senate were away and cashing out when they came back into session - that dollar would have grown to $216.10.


"Our results," Ferguson and Witte concluded in a 2006 paper, "give empirical credence to the association of an active Congress with poor stock market returns."


Comes now Eric Singer, an experienced investment manager determined to turn this insight into earnings. He too has run the numbers. Between 1965 and 2007, on days when Congress was in session, the S&P 500 Index posted an annualized gain of 1.6 percent - versus a whopping gain of 17.6 percent when lawmakers were out of town. "What the market prefers," Singer says, "is a government that is quite literally on holiday."


So he has launched the Congressional Effect Fund, a no-load mutual fund that will invest in S&P 500 Index futures when Congress is out of session, reverting to cash equivalents such as Treasury bills whenever lawmakers reconvene. (Details at www.congressionaleffect.com) He's off to a fast start. Since opening for business on May 23, the fund is up 0.9 percent. The S&P 500, by contrast, is down 8.65 percent.


But Singer's goal isn't just to make money. It is also to make a point: The more Congress does, the less Americans prosper. Freedom, not legislation and regulation, is what powers the US economy. The old political wisdom is a sound investment guideline, too: That government is best that governs least.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Jeff Jacoby is a Boston Globe columnist. Comment by clicking here.

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