Using gross domestic product (GDP), as a measure of national economic growth has its drawbacks. At LewRockwell.com, Alasdair Macleod analyzes the biggest problems in calculating economic growth with GDP. He writes: An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent —none more so than with […]
Speaking of Bad Ideas …
Striking Out No surprise, California doesn’t have enough money to pay for benefits for unemployed workers. Why, then would the Legislature even think about giving benefits to workers who choose to go on strike? The Golden State Is Broke? In the WSJ, James Freeman reports on the editorial board at the San Jose Mercury News: […]
Will the Fed Hold Up Its End of the Bargain?
Looks like the Fed wants to keep interest rates higher for longer. Great. I’ll take it. But let’s not forget about some unforeseen black swan swooping in on their party, ruining their comfy projections, leading to rate cuts. Because in the real world, with live bullets flying overhead, you need to act knowing the Fed […]
Disrupting the Trucking Industry
California is putting the pedal the metal, explains WSJ editors: In the state’s effort to force a sprint to ban diesel trucks, California is ignoring costs or consequences. Truckers are raising alarms about a new mandate proposed by the California Air Resources Board (CARB) to electrify their fleets. Starting next year, drayage operators that transport […]
DIGITAL DOLLAR DOOMSDAY: The Wall Street Journal Is NOT Going to Tell You This
UPDATE 8.28.23: At Bitcoin Magazine, Josef Tětek describes the frightening possible future posed by adoption of central banks digital currencies. He writes: Imagine this: It’s payday but before the money reaches your account, someone else has already decided what you’ll spend your money on — one third of your paycheck on housing, one third on […]
The State of Small Businesses and the Job Market
A report from the National Federation of Independent Business (NFIB) is due out later today. Meanwhile, the latest monthly survey reports that U.S. small businesses remained on the hunt for new employees in July and still couldn’t find enough of them. According to William Dunkelberg, NFIB chief economist: As long as consumers spend, firms will […]
Should Argentina Adopt the Dollar?
You read earlier today that despite Bidenflation, the dollar still goes a long way in Argentina, where inflation reaches levels most Americans can’t comprehend. At Cato Institute, Daniel Raisbeck and Gabriela Calderon de Burgos report that the rate has reached over 100% for the first time since 1991. Many Argentinians, report Raisbeck and Calderon de […]
The Dollar Goes a Long Way, in Argentina
In The Spectator, Dave Seminara recounts his recent family vacation to Argentina and how far his dollars went in the country, which saw 94.8% annual inflation last year. He writes: Planning a foreign trip is a bit like watching a trailer for a film. The research is a preview of coming attractions. I almost never […]
Who Is Protecting America’s Small Businesses?
Over the last few election cycles, Democrats have become the preferred choice of corporate America. But who is speaking for small business? Stephen Moore suggests that it should be the GOP. He writes: A recent Wall Street Journal lead story reported that “Republicans and big business broke up.” The amount of corporate donations to Republicans […]
A Far Bigger Problem than Mr. Powell’s Fed
Never turn a blind eye toward racial inequality, cautions Jason L. Riley in the WSJ. You might not really be aware, however, that black American workers have had a pretty good run of it in recent years. The political left and its allies in the press prefer to accentuate black struggles. Mr. Riley presents some interesting […]
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