Deals Are Cut, Spending Up, Emissions Down, Lobbyists and Bureaucrats to the Fore

Climate change recently was pushed to the back burner by a host of more immediate concerns – gas prices, inflation, recession, crime, illegal immigration – and by a realization that the geopolitical and economic settlement following WW II is in tatters. But climate policy is once again a hot topic in the United States, and […]

Who Do You Believe, The Experts or Your Own Eyes?

The pedants have gone to war. The Federal Reserve Board announced Friday that inflation as it measures it is rising at an annual rate of 6.8 percent, a 40-year high and more than three times the Fed’s 2 percent target. Ordinary folk stocking up on food say the rate they face is closer to 10 […]

Up, Up, and Away

The unemployment rate is a mere 3.6 percent. There are 11.4 million job openings, almost two for every person looking for work. We have added over one million jobs in the past 90 days. Jobs are so readily available that 20-25 percent of candidates don’t show up for interviews, even if offered cash to appear. […]

Dimon Makes Hurricane-Force Remarks, Musk Fires A Shot And Workers, CEOs See Hard Times Ahead As Their Compensation Rises

Last week the President summoned Fed chair Jay Powell and Treasury Secretary Janet Yellen to the White House for a photo-op. Biden reaffirmed Powell’s independence and blamed inflation on Putin, never mind that the annual inflation rate hit 7 percent before the Russians invaded Ukraine. Yellen blamed her mistake in thinking inflation “transitory” on unforeseeable […]

Bulls Gore Bears, Who Sharpen Claws for a Return Match

On Friday, May 20, share prices dipped into what is called bear territory, 20 percent below the previous peak. This was a very short, intraday dip, that missed the 20 percent by a bit, but it rattled investors. Wall Street zoologists say a bear market is driven by investors who expect share prices to fall, […]

Inflation Rages, Americans Fume, The Fed Fumbles, Three Joes

“Inflation rate drops”, or “Inflation rate remains elevated,” choose your headline to describe a change in America’s inflation rate from 8.5 percent in March to 8.3 percent in April. This change in the number following the decimal point after an 8 is of no policy consequence. It can’t change the important fact that seven-in-ten Americans […]