We need to remember the lamentation of President Harry Truman. Harry wanted a ‘one-handed economist’. Truman once complained, “All my economists say, ‘on the one hand, but on the other’.” On the one hand [...]
From economists to the man on the street, we now have concerns over a rapid increase in inflation. Those of us who lived through the 1970’s and early 1980’s remember how America suffered from [...]
Currently, we can have confidence that the world’s two largest economies, China and the United States, will bolster the global economy. The International Monetary Fund upgraded their global growth forecast to 6% for 2021. [...]
The International Monetary Fund projects 6% global growth in 2021. America is driving the globe’s economic bus. The recently adopted $1.9 trillion American Rescue Plan has shifted the U.S. economy into high gear. The [...]
On Good Friday, the Labor Department reported that U.S. employers added a seasonally adjusted 916,000 jobs in March. Economists expect further positive news as more people get vaccinated against Covid-19, states remove restrictions on [...]
The Biden Administration is evaluating a variety of possible tax increases, including boosting the corporate tax rate and the top marginal income-tax rate on wealthy individuals in order pay for its infrastructure, antipoverty measures [...]
Humpty Dumpty sat on a wall Humpty Dumpty had a great fall All the king’s horses and all the king’s men Could not put Humpty together again One year ago, the World Health Organization warned [...]
The oil and gas industry’s top lobbying arm, the American Petroleum Institute, is edging toward supporting a carbon tax. Later this month, API will issue a formal notification. Such a move would make fossil [...]
We are getting to the light at the end of the tunnel, but it is going to take longer. Part of the problem is that the United States participates in the global economy. Specifically, [...]
I recently read a book, "Ten Global Trends Every Smart Person Should Know," that was very helpful in providing an overview of very positive major developments for our planet. Contrary to public opinion, this book [...]
The U.S. automaker will manufacture only electric cars and trucks by 2035.
Chaos theory is the science of surprises. By understanding how our ecosystems and our economic systems are interconnected, we can hope to avoid actions detrimental to our long-term well-being. One example is the butterfly effect. [...]
Semiconductors have played a critical role in America’s economy, job creation, technology leadership and national security over the past six decades. They are the foundation upon which the operation of almost everything electronic is [...]
The interest costs on Treasuries has widespread ramifications because money does not grow on trees.
Over the years I have mentioned that Blacks were effectively denied suffrage in the South until 1944. The fifteenth amendment, providing male suffrage, was emasculated through a series of laws. The Civil Rights laws [...]
5G is the fifth generation technology standard for broadband cellular network that phone companies began deploying in 2019. The Federal Communications Commission has to date received bids for 5G frequency that has exceeded $69.8 billion. Wireless carriers, cable companies and others critically need these airwaves to support [...]
Introduction: In recent years several people have expressed to me their desire for America to eliminate our Electoral College system for electing our president. Their reason is a recognition that given demographic changes the [...]
As we think about 2021, the words from Charles Dickens’ 1859 historical novel “A Tale of Two Cities” remain relevant: “It was the best of times, it was the worst of times ... it was the [...]
The year 2020 has been a banner year for IPO (initial public offering) pricings. Jay Ritter, “Mr. IPO,” in an interview said that the New Issue Market is “not as crazy as in 1999 and 2000, [...]
I saw tonight a documentary, Into the Arms of Strangers. It focuses on the lives of 10,000 primarily Jewish children from Nazi Germany, Austria, Czechoslovakia, and the Free City of Danzig who found refuge [...]
Last Friday’s job report highlighted that the labor market recovery has slowed. The U.S. added just 245,000 jobs in November. This increase is far below the rebounds in May and June when business payrolls increased [...]
The Dow Jones Industrial Index surpassed a major milestone this past Tuesday. For the first time, it crossed 30,000. This very popular price-weighted index follows United States blue chips – companies that are leaders [...]
COVID-19 has caused monumental disruptions across the globe. This past week, the federal Centers for Disease Control urged Americans not to travel for Thanksgiving, traditionally the busiest travel period of the year. The United States has [...]
Regional Comprehensive Economic Partnership (RCEP) should be signed over the next few days. It represents the most significant trade agreement in modern history. Fifteen Asia-Pacific nations, including China, Japan, Australia and New Zealand, have [...]
Last Thursday, Federal Reserve Chairman Jerome Powell emphasized that the U.S. economy needs more fiscal and monetary policy support. He pledged that the Fed would take whatever actions are necessary to protect the economy [...]
The rapid escalation in the number of coronavirus victims has prompted policy makers in Europe and the United States to take or advocate corrective actions. On Saturday, the British prime minister introduced regulations that [...]
The International Monetary Fund reported that global public debt would rise to 100% of the world gross domestic product in 2020. On an unprecedented level, governments have made huge fiscal expenditures in response to the coronavirus [...]
The world has significantly changed its attitude toward fossil fuels since the Organization of Petroleum Exporting Countries imposed an embargo against the United States for its decision to resupply the Israeli military during the 1973 Arab-Israeli [...]
Economists now anticipate that our economy will only slowly recover from the coronavirus pandemic. Heartbreakingly, there is mounting evidence that COVID-19 has inflicted a loss of millions of jobs forever. The labor market has recovered [...]
The U.S. economy is grudgingly advancing. Economists now anticipate that our economic recovery will only slowly recover from the coronavirus pandemic. There is mounting evidence that the pandemic has cost a loss of inflicted [...]
In recognition of its environmental challenges, California has taken the most aggressive steps in the United States to control emissions both in the field of transportation and electric power generation. Being the world’s fifth-largest [...]
Last Wednesday Federal Reserve Chairman Jerome Powell emphasized the need to keep interest rates near zero at least through 2023. He said, “We believe that achieving inflation that averages 2% over time helps ensure that longer term inflation expectations remain [...]
Hundreds (sadly not thousands) of French Jews and their supporters in Paris called for justice for murdered Jewish woman, Sarah Hallimi, a retired physician and schoolteacher. In an astonishing decision, the court of appeal [...]
Official numbers prove what we feel in our bones – the U.S. economy has hit the proverbial glass ceiling. On Thursday, the Labor Department reported that U.S. unemployment claims held steady at 884,000. This represents [...]
Last Thursday, Federal Reserve Chairman Jerome Powell’s comments helped bolster stock prices. Powell replaced the bank’s existing target for inflation of 2%. Instead, they would accept an average of 2%, and therefore allow price increases above [...]
The confusion about the status of the American economy and prescriptions to fix it has merit. The United States is in a recession, but this downturn is unlike any our country has ever witnessed. There [...]
