Commentary On Aug. 24, President Joe Biden announced he would forgive up to $10,000 of federal student debt and up to $20,000 of Pell Grants. The president’s student loan forgiveness dodges real issues that need to be addressed: the issue of ongoing college tuition increases while the American higher education system simultaneously continues to be…
Biden’s Student Loan Forgiveness Dodges Real Issues
September 6, 2022
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Business & MarketsBusiness Columnistscollege tuitionhigher educationPell GrantPolicies & Impactsstudent loan forgivenessUSUS News
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Recession Signals Abound as the Fed Gets Aggressive
September 6, 2022
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Business & MarketsBusiness ColumnistseconomyFederal Reserveinflationjerome powellOpinionPolicies & ImpactsrecessionUSUS NewsViewpoints
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Commentary At the recent Jackson Hole Economic Symposium, Federal Reserve Chair Jerome Powell made it clear that the central bank remains focused on combating inflation despite recession signals rising in tandem. To wit: “Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance. Reducing inflation…
Are We Facing a Global Housing Crisis?
September 6, 2022
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Business & MarketsBusiness ColumnistsChinainflationOpinionproperty marketreal estaterecessionViewpoints
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Commentary There seems to be a global housing crisis in the early stages of development, but what about in the United States? As rates continue to rise, pressure is increasing across the country and around the globe, and a hefty amount of risk is on the horizon. Goldman Sachs Chief Economist Jan Hatzius recently released…
Subsidies for Me but Not for Thee
Commentary Although only some $52 billion in Washington’s $280 billion CHIPS for America Act actually aims to boost semiconductor production in the United States, Beijing is furious and has promised retaliation. China’s embassy in Washington has declared that Beijing is “firmly opposed” to the legislation officially called the Creating Helpful Incentives to Produce Semiconductors for…
Subsides for Me but Not for Thee
Commentary Although only some $52 billion in Washington’s $280 billion CHIPS for America Act actually aims to boost semiconductor production in the United States, Beijing is furious and has promised retaliation. China’s embassy in Washington has declared that Beijing is “firmly opposed” to the legislation officially called the Creating Helpful Incentives to Produce Semiconductors for…
Dear Bosses: Don’t Treat Workers Like Children
Commentary The corporate management of Goldman Sachs starting today has completely eliminated its vaccine requirement for workers. Glory be! Why did the company do this? Because it needed its workers back in the office. This supposedly eliminates the final barrier but this spin downplays the significance of the mandate itself. When your own employer violates…
Can China Transition to a Consumption Economy?
Commentary The great economist Michael Pettis at Tsinghua University has noted for years the importance for the Chinese economy to shift its growth dependency away from investment and toward greater consumption. As China faces its weakest sustained economic period in modern history, it bears worth asking, can China shift toward a more consumer-focused economy? The…
Saving the Nation’s Soul While the Economy Goes to Hell
Commentary President Joe Biden went on a hyper-partisan, demagogic rampage Thursday evening, standing before an eerily red-lit Independence Hall in Philadelphia, with U.S. Marines at attention exploited as political props. The speech, attacking Donald Trump and “MAGA Republicans” as a threat to “the very foundations of our republic,” was touted in advance by the White…
Jobs Report Signals Continued Rate Hikes, But…
Commentary August jobs printed at 315,000 new jobs, somewhat above the consensus estimate of 300,000 jobs. It was more than 200,000 fewer jobs than were created in both July 2022 and August 2021. June and July revisions combined to create 107,000 fewer jobs than were previously reported. It is generally believed that 200,000–250,000 jobs are required…
Buying or Renting? The Old Question Is Back
September 2, 2022
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AnalysisBusiness & MarketsBusiness ColumnistshousinginflationmortgageOpinionreal estate marketrecessionrenting
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Commentary Every young person moving into adulthood faces the great question of whether to buy or rent their primary residence. That question just became much more complicated. The ratio between the two just expanded to the greatest gap since 2008, and it does not favor buying. Mortgage rates have made buying completely unaffordable even for…
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