News Analysis There was widespread fear and loathing on Wall Street after the Fed’s announcement of further rate increases, 75 basis points again and the sixth increase this year. The Fed has not increased rates this far this fast in the entire postwar period. The pace is without precedent, and indicates that the Fed is…
The Fed Has Just Begun to Fight
November 3, 2022
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesOpinionPandemic ResponserecessionstagflationU.S. economy
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The Russia–Ukraine War: A Regional Disaster Threatens a Wider Catastrophe
November 3, 2022
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American diplomacyAnalysisBusiness & MarketsBusiness ColumnistseconomyenergyEuropefaminefighting in UkraineinflationOpinionrecessionRussiaRussia-Ukraine WarUncategorizedWorld
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Commentary Russia miscalculated in expanding its war on Ukraine beyond the Russophile Eastern Ukraine and Crimea. The attack on Kyiv and western Ukraine unified NATO and impelled the United States to engage in a proxy war with Russia in Ukraine. In the months since, Ukraine—with American and allies’ arms and aid—has proven far more resilient…
Xi Jinping’s Monopoly on Power Ends CCP’s Power-Sharing Consensus: China Experts
News Analysis After China’s 20th Party Congress, Xi Jinping and his loyalists have taken full control of the top power structure of the Chinese Communist Party (CCP). Analysts point out that the current structure breaks the CCP’s power-sharing rules, which may bring about a struggle amongst the party’s inner-circle, just like those in Mao Zedong’s…
Sri Lanka’s Agrochemical Ban Shows How Bad Ideas Can Have Big Consequences
November 2, 2022
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AnalysisAsia & PacificBusiness & Marketseconomic policieseconomyfertilizerInternationalOpinionpesticidericeSri LankaViewpointsWorld
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Commentary You may remember the headlines: in 2021, Sri Lanka’s government imposed a total ban on agrochemicals. The restrictions affected both chemical fertilizers and pesticides. The government changed course in late 2021, but the damage had already been done. Yields fell dramatically, fueling anger in the streets. By mid-2022, the country was convulsed by explosive…
Faulty FBI Data Obscures Successful Defensive Gun Use
News Analysis With crime such an important issue, Americans depend on the FBI for accurate data. The crime data for 2021 is a mess, with almost 40 percent of law enforcement agencies around the country not submitting any data to the FBI. In California, 93 percent didn’t report crime data. In New York, 87 percent didn’t. Cities…
The Cultural Destruction of Inflation
November 2, 2022
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AnalysisBusiness & MarketsBusiness Columnistscredit card debtCultureinflationOpinionprosperityrecessionU.S. economy
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Commentary What is inflation doing to the culture? For a clue, have a look at trends in household economics. Start with credit card debt, which is now rising 14 percent per year in the United States, after having fallen dramatically during 2020 lockdowns. People wisely used stimulus payments to pay off some debt. That is…
Private Sector Delegates Halved at 20th Congress, Sign of Xi Implementing New Planned Economy Model
Commentary At the recently concluded 20th Congress of the Chinese Communist Party (CCP), the number of representatives of private entrepreneurs was reduced by nearly half from the already small number 10 years ago—the latest sign that China’s economic system is moving back toward a planned economy version 2.0, a modern model echoing the Mao era….
Markets React Badly to CCP Congress
October 31, 2022
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20th National CongressAnalysisAsia & PacificChinaChina Business & EconomyOpinionThinking About ChinaWorldXi
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News Analysis The reshuffle of the Chinese Communist Party (CCP) leadership and Xi’s speech to the 20th party congress in China has spooked investors, compounding an already suffering economy with no relief in sight. On Oct. 24, markets reacted to the closing of the CCP’s 20th National Party Congress. Foreign investors sold $2.5 billion of Chinese stocks through Hong…
Has the Big Tech Bubble Burst?
October 31, 2022
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AnalysisBig TechBusiness & MarketsBusiness Columnistsfinancial marketsOpinionrecessionstock markettech stocksU.S. economy
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Commentary The extraordinary gains on Wall Street from Oct. 28 were stunning, but it’s the details that matter. What didn’t participate in the sudden exuberance were the tech stocks that have performed so well over the past three years and even dating back to 2009. The enthusiasm was all about value stocks, those old-fashioned companies…
Is Trouble Brewing Underneath the Bond Market?
News Analysis The U.S. treasury bond market has tumbled this year. That’s no surprise. Between the Federal Reserve’s interest rate hikes and quantitative tightening, 10-year treasury yields have increased from 1.6 percent to more than 4.0 percent year to date (bond yields have an inverse relationship with bond prices). But this doesn’t feel like a…
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