The economic outlook can be summed up in five words: Everything’s great, except what isn’t. We’ll lead with the “everything’s great” part, as seen through the filter of the Federal…
The Stock Market Needs “Seasonal Adjustment”
How many jobs did the U.S. economy generate in December? The correct answer is: 292,000 281,000 11,000 None of the above David Stockman wrote on his “Contra Corner” blog: “According…
How Ben Bernanke Saved the World
“It became necessary to destroy the town to save it.” U.S. major talking about Bến Tre, Vietnam The Wall Street…
Today’s Economic News: Woe Is Me
The summer weather and the media’s focus on positive economic news may have you feeling cheerier than usual these days. Two words: “Bah, humbug.” Or maybe, “Get real.” Focus, for…
Big Board Floored
The Big Board is not so big anymore. A decade ago, it accounted for 80% of stock trades. Today, it accounts for 20%. There are also far fewer publicly traded…
Economic Schizophrenia
Schizophrenia is “a long-term mental disorder of a type involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from…
Appearance vs. Reality
Maybe if the good news about the U.S. economy gets repeated often enough, appearance will become reality. We’re not there yet. The official word from the U.S. Bureau of Labor…
AP Poll: Americans Want Less Economic Growth
Well, here’s a shocker. A new AP poll shows that a majority of Americans want a higher minimum wage. They also want paid sick leave and parental leave, free community…
Do You Believe in Santa Claus? You May Be A Keynesian.
The Christmas season is an appropriate time to reflect on Keynesian economics, given this: believing in Keynesian economics is a lot like believing in Santa Claus. Most Americans grow up…