Commentary Public health as a profession has fallen into dispute but it is hardly the only one. The economists bear responsibility too, for it is they who should have been aggressive, open, and loud about every aspect of the pandemic policy response. And yet, they were largely silent as markets were wrecked, Congress blew up…
As the Economy Collapsed, Why Were Economists Silent?
September 26, 2022
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AnalysisBusiness & MarketsBusiness ColumnistseconomistsinflationlockdownsOpinionrecessionU.S. economy
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Drill for a Greener Planet
September 26, 2022
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Business & MarketsBusiness ColumnistsC02 emissionscarbon capturedrillingeconomyenergyfossil fuelgas pricesinflationJamie DimonOpinionRashida TlaibUSViewpoints
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Commentary One of the worst movies ever made–apart from the bottomless pit of direct-to-video fare—has got to be 2003’s “The Core,” starring Hilary Swank and the insufferable Stanley Tucci. Swiping the Booby Prize long held by 1977’s “Exorcist II: The Heretic,” this “save the planet from itself” journey to the soft Tootsie Roll center of…
A New ‘Lost Decade’ for the Market?
September 25, 2022
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Business & MarketsBusiness ColumnistsFederal ReserveInvestmentMarketsOpinionstock marketstocksViewpoints
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Commentary Investors may need to prepare themselves for the possibility that the good times are over. Stock market investors have generally enjoyed a decade of great returns dating back to 2013, when the market emerged from the doldrums of the 2008 financial crisis. The S&P 500 has now lost almost 25 percent in 2022 after…
The CHIPS Bill: Strange Mix
Commentary Washington has rushed to save computer chipmaking in the United States and has found $280 billion for the project. Even by the standards of modern Washington, that is a sizable sum. And as is typical of federal practice, the new legislation is about a lot more than manufacturing semiconductors. Chipmaking will get a little…
The Strong Dollar Is a Risk to Corporate Profits
September 23, 2022
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Business & MarketsBusiness ColumnistsCurrenciesDollareconomyeuroinflationInvestmentOpinionrecessionTreasury yieldViewpointsyen
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Commentary The strong dollar remains a risk to corporate profits and asset prices as the impact on the global economies grows. While many commentators argued the dollar would go bust due to the excessive debt levels in the United States, such has hardly been the case. In 2022, as the U.S. economy is the “cleanest…
War Drums Beat (Over Europe)
September 23, 2022
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Business & MarketsBusiness ColumnistseconomyEuropegas suppliesinflationOpinionrecessionRussiaRussia-Ukraine WarUkraineViewpointswarWorld
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Commentary Mika Lintilä, minister of economic affairs of Finland, stated in the Finnish Parliament on Sept. 8 that Finland is at war with Russia. This was an inexplicable statement from a Finnish minister. We have not been in war with Russia since the truce ending the Continuation War (a peace treaty was signed on Sept….
The Rise of the Chiselers
Commentary An early check-in at this $1,000 per night hotel costs an extra $100. A late check out is $100 per hour you stay past 10am. In the same hotel, there is a coffee pot but a K-cup to put in it runs $4. It’s an incidental. If you use more than one towel, you…
USA: Stop Helping China’s High-Tech Industries
Commentary It is a source of constant puzzlement and even growing anger that the United States–both the federal government and industry—continues to help the Chinese regime build up its high-tech sectors. The United States knows full well that China treats it as an adversary. Yet we continue to sell the rope with which to hang…
The Fed Just Predicted a Fairly Lousy Economy—and the Markets Noticed
September 22, 2022
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Business & MarketsBusiness Columnistsdot ploteconomic policieseconomyFederal ReserveGDPinflationinterest ratesMarketsPolicies & ImpactsstocksU.S. dollarUS
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Commentary The Federal Reserve (Fed) announced on Sept. 21 that it raised interest rates by 75 basis points (bps), or three-quarters of a percentage point. The decision came a day after the Federal Reserve Bank of Atlanta dropped its much-watched estimate of third-quarter 2022 GDP (“GDP Now“) to just 0.3 percent on Sept. 20, after…
East and West Diverge on Monetary Policy
September 20, 2022
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Business & MarketsBusiness ColumnistsChinaFedinflationinterest ratesOpinionThinking About ChinaViewpoints
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Commentary Inflation has forced Western central banks to raise interest rates, but in Asia, China has taken the opposite tack. All the central bankers—East and West—worry over a recession. Still, the lessons of the last great inflation of the 1970s and 1980s have convinced the Federal Reserve (Fed), the European Central Bank (ECB), and other…
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