Commentary In 1936, John Maynard Keynes, who was the most influential economist of the 20th century, wrote in his popular treatise (“The General Theory”) of his ultimate solution for permanent growth and high employment without business cycles. He called for the government to drive interest rates to zero. This would spur massive borrowing and then…
Shred the White Collar and Put on the Blue
May 17, 2023
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Is Inflation the New Normal?
Commentary Today finally ends the federal state of emergency for COVID. Along with that ends the terrible travel restrictions that have stopped the unvaccinated from visiting the land of the free. It seems incredible that we could ever become used to this. But it happened. And it went on for three years. This should serve…
Climate Envoy John Kerry’s Jet-Set Spending Is Getting Plenty of Cloud Cover
May 10, 2023
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Analysisclimate changeenergy crisisenergy transitionfossil fuelsglobal warminggreenhouse gas emissionsJohn KerryOpinionU.S. economyUS
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News analysis John Kerry leads an international jet-set life that might exhaust a runway model. If President Biden’s special envoy for climate was not in Washington or relaxing at his mansion near Nantucket Harbor, he could be found in Brazil, Panama, the Bahamas, or Germany. And that’s just in February and March. While Kerry trumpets…
Why Doesn’t Drowning in Debt Bother Biden?
Commentary The most perplexing thing about President Joe Biden’s stance on the debt ceiling issue is that the staggering national debt does not seem to bother him. In remarks Biden made the other day, he noted that the national debt has “accumulated over 200 years.” And he also noted the debt increased under President Donald…
This Demoralized Generation Will Recover
Commentary Economic trends have a greater effect on the human spirit than we often recognize. Commercial life, and signs of it, bolsters the human spirit while the reverse is also true. As an example, my mother’s hometown in Texas often went through waves of booms and busts. When the boom times were there, everyone seemed…
The Rise of Conscious Consumerism
May 9, 2023
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Commentary There is this joke in economics that says two people are walking along and one says “There’s a twenty dollar bill on the sidewalk.” The economist responds: “That cannot be true because someone would have already picked it up.” There is a weird truth to the joke that in economics class we learn about…
Investing: Cutting Through the Noise
May 8, 2023
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Commentary As an investor, it’s very easy to look at the current environment and shake one’s head. There’s a tremendous amount of headwinds. Given the volumes of headlines involving inflation, the debt ceiling, incompetence in Washington, geopolitical risks, China, etc., some investors may just give up and stash away their cash. But that could prove…
Is the Fed Done Messing Up Everything?
May 4, 2023
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesOpinionrecessionU.S. economy
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Commentary There is a scene in a Fred Astaire and Ginger Rogers film in which the boss of a law firm leaves for vacation and puts his intellectually limited Cousin Egbert in charge. The note adds “don’t do anything.” This is exactly the note that the Fed needs now. Just stop doing things. Its record-breaking…
Who Turned the Lights Out? Joe Biden
May 2, 2023
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carbon dioxide emissionsclimate changeElectric powerenergy crisisenergy transitionfossil fuelsgas stovesglobal warminglightbulbsOpinionPower plantsU.S. economyViewpoints
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Commentary Does the radical climate change agenda know no end? Earlier this year, it was gas stoves—and then lightbulbs. Then, a few weeks ago, President Joe Biden’s administration announced much less gas cars after 2032. Even though about half of Americans say they don’t want an electric car and only 6 percent of drivers are…
This Is a Bailout, Not a Market-Based Acquisition
Commentary The weekend brought us the news that JPMorgan bought the failing First Republic bank, with numbers that are truly mind-boggling and further shore up JPMorgan’s megabank status. For many readers, this came across as fancy high finance and nothing much to concern us, especially since the numbers are essentially incomprehensible to the regular person….
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