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 […]