Roll over David Ricardo, former White House Chief Strategist Steve Bannon, says a trade war is great for America’s Main Street, even if Wall Street doesn’t like it. “Ask the working people in Ohio, Pennsylvania and Michigan about Wall Street. Wall Street supported and cheered on the export of their jobs. To hell with Wall Street if they don’t like it. It’s time somebody stood up to them and Donald Trump is the perfect guy.
“It’s time to stop calling this a recovery, and start calling it a boom,” writes Noah Smith for Bloomberg.The Elliott Wave Financial Forecast (EWFF) reports, The National Federation of Independent Business index of small business owners “Now Is a Good Time Expand” rose to its highest level in the 45-year history of the survey. “Main Street is roaring,” says the NFIB’s president.
EWFF points out that it feels like the year 2000 all over again.
In 2017, for the first time ever, all Euro zone countries had a government deficit below 3% of GDP, thereby complying with the Stability and Growth Pact. Does this mean that the euro crisis is officially over? Have pessimists been wrong? Can governments boost government spending as they rejoice?
There are several reasons why the euro crisis is far from being over and government finances still unsustainable.
Patrick Newman joined the Tom Woods Show yesterday to talk about the Murray Rothbard book he edited on the Progressive Era.
Check out the episode here.
For decades, the general strategy of anti-global warming activists has been to maximize predictions of apocalypse, death, and destruction. This over-the-top approach has been used to promote the idea that virtually no cost is too high when it comes to implementing global governmental control of all human activities in the service of avoiding climate change.
Does neoliberalism, the tired slogan of our time, have a precise definition?
The short answer is no, it doesn’t. At least not readily one readily at hand, if this New Republic article is any guide:
Inspectors from the Organization for the Prevention of Chemical Weapons (OPCW) have finally arrived in Douma, Syria, to assess whether a gas attack took place earlier this month. It has taken a week for the inspectors to begin their work, as charges were thrown back and forth about who was causing the delay.
In this year’s letter to Amazon shareholders, released earlier this week, CEO Jeff Bezos extolled the value of high expectations. “We didn’t ascend from our hunter-gatherer days by being satisfied,” he wrote. Among the products that Bezos summarized was the company’s new shopping concept, Amazon Go.
The Economist has lately been running a series of articles on the shortcomings of the economics profession. Its most recent piece argues the important point that “the [2008-2009] crisis exposed the economic profession’s continued ignorance of the business cycle.” One reason for this ignorance is, they observe, a lack of data: while crises do happen repeatedly, they do not happen often enough for statistical analysis of them to be rigorous.
According to the Federal Reserve’s Underlying Inflation Gauge, the 12-month inflation growth in March was at 3.13 percent. That’s the highest rate recorded in 140 months, or nearly 12 years. The last time the UIG measure was as high was in July 2006, when it was at 3.2 percent.
