Greenspan Warning: Stagflation Ahead The economy panics.

Greenspan Warning: Stagflation Ahead The economy panics. Jay Powell and Donald Trump combined last week to shake investors to their core. New Federal Reserve Board Chairman Powell tried to keep his first congressional appearance since taking the job a bland affair. He failed. Donald Trump expected a positive reaction to his announcement that he is […]

BBC: “US coffers not big enough for Trump plans”

US coffers not big enough for Trump plans President Trump is expected to unveil his answer to America’s infrastructure problems, in an upcoming US budget announcement. Road and rail networks are under huge pressure and in need of renewal and repair. But the US coffers likely aren’t big enough, says economist Irwin Stelzer from the […]

The Economics of 2018: The known-unknowns about where the economy is going.

“Mournful, dazed, sullen, traumatized, self-absorbed, defensive, remote, morbid, bleak, bummed-out, alienated, unprotected, besieged.” That’s how a leading pop music critic describes the music of choice of “millennial and younger listeners . . . making their way into an era of accelerating income inequality . . . with staggering debt . . . [and] the prospect […]

Are We Headed for a New, New-Normal?

The New Normal. Slow growth. Persistently low inflation threatening to morph into Japanese-style deflation. Stagnant wages. Rising inequality. The American Dream converted to a nightmare. All the result of the metastasizing of the regulatory and entitlement states, say the Republicans. No, it’s the result of corporate greed, racism and a refusal of the rich to […]

The Optimists vs. the Eeyores

Rarely have both exuberance and anxiety run simultaneously at the high pitch evident these days at gatherings of investors. The exuberants are the noisiest right now. Trump tax cuts have produced a surge in business after-tax profits-which even before the tax cuts were up double digits compared with last year. Millions of workers and their […]