“There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.” …
2010s vs. 2000s
By most accounts, 2019 was a very good year. Stock indices set new records and the historically longest bull market continued. So did the historically longest recovery. In 2018, the…
In China, 6.4% Growth Is Bad News
Growth is relative. In the U.S., we thought it was good news when the economy started growing again at a rate of 3+%. During the Obama Administration, when the economy…
The Good and the Bad in the USMCA
A trade war has been averted with few casualties, at least for now. And, as a result, the United States is in a better position to negotiate with China and…
How Tariffs Will Damage the Economy
In our last post, we explained why tariffs will likely have a negative impact on the steel industry, resulting in fewer exports. But there are many other reasons for opposing…
When Trade Is No Longer Free
Common sense does not dictate national policy. Every U.S. president and member of Congress is influenced by personal experience and ingrained beliefs. If you’re president, you’re also surrounded by a…
China Syndrome
Back in the nuclear-fueled ’70s, “China syndrome” was a theory that the world would end with a meltdown from a nuclear reactor tunneling its way through to the other side…
Best Way to Address the Trade Deficit—Ignore It
For each of the past 42 years, America has imported more goods than it has exported. Before 1976, America had a trade surplus each year beginning with the end of…
What Security Threat?
Perhaps you feel more secure today, knowing that steel and aluminum that’s imported to the U.S. from Canada and Mexico will be subject to tariffs. But does security really have…
Tariffs Are a Step Backwards
President Trump has combined tax reform and deregulation to boost the economy and create jobs. Yet he is canceling out this economic enhancement with protectionist policies. His biggest policy mistake…