What’s the best way to boost economic growth – more government spending or lower taxes? Government spending is the Keynesian approach, which was taken over the past eight years. Build…
Trump vs. the World
During the presidential campaign, President Trump often came off as a bully. Now that he’s president, the bullying is coming from others. The “resistance,” the media, academics, celebrities and others…
What’s Good for Tesla Is Good for Elon Musk
It’s not surprising that I don’t know anyone who owns a Tesla, given that total sales since the company was founded in 2003 barely top 200,000 vehicles (and all but…
Rates Rising, Yet Bond Buying Sets Record
Rising interest rates, higher inflation and tighter monetary policy should be bad news for bonds. Yet investors have been buying record volumes of new bonds. Highly rated U.S. companies issued…
The Fed Thinks Higher Prices Are Good For You
The Federal Reserve Board’s quantitative easing program was an unprecedented monetary experiment that dumped trillions of dollars of new money into the economy. Historically, adding that much money to the…
RIP High-Frequency Trading?
“It’s like a perfect storm. The cheats are going away, the volatility is going down and the costs are going up.” Haim Bodek, former head of electronic volatility trading, UBS AG…
Obamacare Resuscitated
“If you don’t buy this magazine, we’ll kill this dog.” So said a cover of National Lampoon back in 1973. We’re reminded of the infamous cover when we reflect on…
The White House as Animal House
Why has the stock market been going bonkers, even as interest rates have begun to rise? CNBC sums it up in two words: “animal spirits.” Wall Street types aren’t talking…
Little Enterprise, But Plenty of Free
America’s free enterprise system was built on enterprise. Now, all that’s left is “free.” Not free, as in the freedom to work hard and prosper, but “free,” as in free…
The Not-Working Class
In a capitalist country like ours, hard work is supposed to be rewarded and slothfulness is considered one of the seven deadly sins. So what to make of the “quiet…