A list of all of Doc Werlin’s writings pertaining to economics.
A study by EY-Parthenon, a consultant to the education industry, indicated that some 800 of America’s 2,000 colleges could close. Twenty percent of colleges run deficits because of inadequate endowments, less than optimal enrollment and/or [...]
The National Association of Realtors reported that sales of previously owned homes rose 20.7% in June over May. This is the biggest increase on record going back to 1968. The surge in existing-home sales follows [...]
The Time Life Building Only Has 500 workers showing up in comparison to Pre-Pandemic 8,000 The Rockefeller Center Ecosystem of Restaurants and Shops, created to serve Midtown workers and tourists, has gone dark Introduction: [...]
In June, retail sales increased by 7.5%. Retail sales account for about a quarter of all consumer spending. The reopening of malls, restaurants, and other service industry positions allowed millions of people to return to [...]
On Wednesday, United Airlines said that it is expecting to lay off close to 50% of its U.S. domestic workforce. United is not alone. American Airlines may have to cut 20,000 jobs, and Delta has [...]
On Thursday the Labor Department reported that we added 4.8 million jobs in June, reducing our unemployment rate slightly to 11.1%. This is our second month of job growth after losing 20 million jobs earlier [...]
As we approach the midyear, the future direction of our economy remains mixed. The renewed national upsurge in COVID-19 cases has forced some states and cities that have reopened to reverse course. President Donald Trump [...]
The reclosing of eleven Apple stores in four states on Friday highlighted the growing concerns that the coronavirus is gaining ground. Scientists have expressed anxieties that the U.S. has replaced Italy and China as [...]
Last Wednesday Federal Reserve Chairman Jerome Powell said: “This (COVID-19) is the biggest shock in the U.S. and in the world in living memory. We went from the lowest level of unemployment in 50 [...]
Last Wednesday Federal Reserve Chairman Jerome Powell said: “This (COVID-19) is the biggest shock in the U.S. and in the world in living memory. We went from the lowest level of unemployment in 50 years [...]
China’s legislature has taken preliminary steps to impose greater national security control over Hong Kong. These efforts would override the territory’s partial autonomy in order to crush anti-Beijing protests. For several years, the tensions between [...]
Over the past few days, economic releases have highlighted the damage caused by the coronavirus pandemic. On Friday, we learned that consumer spending dropped a record 16.4%. On Thursday, the Labor Department reported that 36.5 [...]
Introduction Today’s New York Times highlighted the canonization of federal deficits. For the first 75 years of my life, I learned repeatedly that government deficits should be a source of fiscal concern. Today there [...]
On Wednesday, the European Commission projected that Europe’s economy will decline by 7.4% this year. Unfortunately, this downturn far exceeds the financial crisis of 2008, when the Eurozone’s economy shrank by 4.5%. Currently, economists expect [...]
Before we address our dire economic status we need to mourn the terrible toll caused by the coronavirus pandemic. More than 1 million Americans have tested positive and 60,000 have died. During the Civil War, [...]
The International Energy Agency (IEA) forecast that the global demand for oil would decline more this year than ever. Faith Birol, head of the Paris-based IEA, said: “We may see it was the worst [...]
On Thursday, the Federal Reserve announced a monumental $2.3 trillion program to provide funds for businesses and municipal governments. To underscore its efforts, Jerome Powell, the chairman of the Federal Reserve, issued a statement: [...]
U.S. policymakers now anticipate that our country will experience the worst economic crisis since the Great Depression. The U.S. is at the center of the global pandemic. According to data compiled by John Hopkins [...]
President Trump signed a $2.2 trillion bill — the largest relief package in history — that hopefully will stabilize our coronavirus-battered economy. However, despite the enormous efforts on both the fiscal and monetary side, [...]
We now have a consensus that the United States, along with the world economy, will enter into a severe recession, surpassing the 2007-2008 slumps. Forecasting when the recession will begin is notoriously difficult; however, [...]
Borrowing by businesses is historically high relative to gross domestic product (GDP), with the most rapid increases in debt concentrated among the riskiest firms amid weak credit standards. Coronavirus represents a threat that has [...]
The likelihood of a global recession has risen dramatically in recent weeks. The World Health Organization (WHO) recently reported that COVID-19 has infected more than 100,000 people across 92 nations and territories. It has [...]
During this election cycle, presidential candidates have been critical of American businesses and their influence over the legislative process. I would like to provide an alternative view from an economic perspective. As long as [...]
Chinese authorities failed on a timely basis to warn about the coronavirus epidemic, endangering the world. The Wall Street Journal reported that the World Health Organization, bending to Chinese pressure, failed to declare it [...]
A January poll by the Pew Research Center found that while 62 percent of Americans believe there is too much income inequality, only 40% believe that reducing it should rank as a top priority. [...]
On Thursday, Google-parent Alphabet became the fourth U.S. firm to achieve a market value of more than $1 trillion. Alphabet joins Apple, Amazon and Microsoft as the only American companies to have attained this [...]
As one would expect, stock market junkies like myself think about our prospects for 2020. After enjoying stellar returns in 2019, some analysts (not me) worry that the United States could suffer from falling [...]
The Case Against Court Packing Walter Shapiro Brennan Center For Justice Walter Shapiro of the Brennan Center for Justice made the following arguments against 21st-century court packing: It is dangerous to tamper with the mechanisms [...]
Happy days are here again The skies above are clear again So let’s sing a song of cheer again Happy days are here again All of the major indexes have performed remarkably well in [...]
Last week, Paul Volcker, one of our greatest Chairmen of the Federal Reserve, passed away. Volcker’s most notable accomplishment was his successful struggle to subdue inflation in the late 1970’s and early 1980’s. Volcker [...]
On Friday the Labor Department reported that the job market enjoyed excellent performance — nonfarm payrolls surged by 266,000 and unemployment fell to 3.5%, a 50-year low. Over the past year, almost 1.7 million [...]
According to the National Bureau of Economic Research, the United States has enjoyed its longest expansion. Starting in June 2009, our Gross Domestic Product has grown 25%. We now enjoy a 3.5% unemployment rate, [...]
Federal Reserve Chairman Jerome Powell, November 13, 2019 In testimony before the House Committee on the Budget, Federal Reserve Chairman Powell expressed strong reservations about the U.S. federal debt. He worried that policymakers will [...]
Recently, most major indicators have turned negative. As a consequence, the global-growth slowdown has frightened investors. In recognition of this malaise, the stock market has been flat for the past 12 months. To ward [...]
In anticipation of the 2020 elections, candidates have made campaign promises to make our country better. The high costs of a college education, medical treatment, improving our environment, housing, etc. are just some of [...]
“We do not want to be servants to the Chinese.” — President Trump Tweet, Sept. 1 Last Tuesday, the Institute for Supply Management (ISM) released data that showed U.S. manufacturing sector declined for the [...]
