Unemployment And The Markets
Unemployment is at multi-decades lows and this has already got the Fed into a preemptive tightening cycle, and getting this right matters a great deal for investor returns. However, the […]
Patients Versus Shareholders
There is a critical distinction between market friendly and business friendly deregulation but this is almost never made, with sometimes terrible consequences. Perhaps the best example of the latter is […]
Better Globalization
The US economy has created as much wealth as any advanced economy, if not more so, but many have been left out of this wealth creation altogether. Trade has been […]
The Feel-Good Economy
While the economy is booming, it’s hard to detect a real break in the post-financial crisis recovery in hard data covering growth, job creation, and wages. The high growth in […]
The Bull Market Can Run For Years
We might have been too pessimistic about the impact of the tax cuts on the economy. New data about business investment and productivity growth paint a better picture; even if […]
The Chaos Abroad
US policies to boost domestic growth are not compatible with the trade policies the US pursues abroad. The pro growth policies at home create rising US interest rates and yields, […]
All That New Technology, Why Doesn’t It Boost Productivity Growth?
It seems that we’re once again in a Solow Paradox world where we see incredible new tech all around us, apart from the productivity statistics. We look at three different […]
A New, New Normal For The U.S. Economy?
Mohammed El-Erian has declared that the US alone has escaped the “new normal,” a concept he coined in 2009 to predict subdued growth for the post-financial crisis economies. Now that […]
The Tax Cuts Might Not Stimulate The Economy At All
The tax cuts are not likely to boost business investment by much. But analysis from the San Francisco Fed show that fiscal stimulus during boom times is a lot less […]
Dormant Capital, An American Problem
Much of the effect of tax cuts for corporations depends on the notion that capital is scarce; it isn’t. Capital is abundant. The problem is much has accumulated at corporations […]