Commentary Beijing is furious over a new U.S. law. It passed late in 2021 but only went into effect this past June. It would ban imports of any goods connected to the forced labor of Uyghurs in China’s Xinjiang region. It would understate to say that Beijing has taken umbrage. Its spokespeople have angrily denied…
China-US Tensions Intensify: US Bill Targets Beijing Over Uyghur Forced Labor
July 7, 2022
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Business & MarketsBusiness ColumnistsChinaforced laborOpinionThinking About ChinaUyghur Forced Labor Prevention Act (UFLPA)Xinjiang
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Another Lockdowner Bites the Dust
July 7, 2022
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administrative stateBoris JohnsonbureaucracyBusiness & MarketsBusiness ColumnistsCOVIDCOVID-19Deep Statelockdownsmandates
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News analysis Governments of the world today are among the least popular institutions on the planet. There are a few possible exceptions such as Sweden, Florida, and South Dakota, places with leadership that chose not to bludgeon its people in the name of virus control. Among all the rest, we see instability and public opposition…
Today’s America: An Economy of Shortages
Commentary For the first time in over 40 years, the U.S. economy is dealing with widespread shortages. Parts are unavailable for manufacturers when they need them. Airlines abruptly cancel flights. Railroads and trucks are cutting shipments. Food shelves in some areas are depleted with some areas reporting a lack of meat supplies, milk, or other…
Into the Abyss?
Commentary “Battle not with monsters, lest ye become a monster, and if you gaze into the abyss, the abyss gazes also into you.”—Friedrich Nietzsche Most analysts are pondering whether the upcoming recession will be mild or a “bit more severe.” I do wonder, however, have my forecasting colleagues truly accounted for all things lurking in…
What a Serious New Congress Must Do
News analysis Let’s say that all the predictions come true and the Republicans sweep both the House and Senate in November, plus gain effective political control of most states. The presidency then becomes the main tool controlled by the Democrats. This will be a very satisfying rebuke of woke politics and possibly signal a much-needed…
Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy?
Commentary Among Federal Reserve officials and many economists, it is fashionable to argue that any losses the Federal Reserve should suffer, no matter how large, will have no operational consequence. Is this true? If so, how does the Fed account for its losses and stay solvent? And who ends up paying for these losses? As the Fed…
How Lockdowns Caused Chaos in Labor Markets
July 5, 2022
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Business & MarketsBusiness Columnistslabor marketslabor shortagelockdownsrecessionU.S. economyunemployment
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News analysis For most of these last 100 years, unemployment has been an obsession of both economists and government. This is because it has usually been a reliable marker in the business cycle. In good times, the rate falls and in bad times it rises. This pattern has often led to a goofy conflation of…
The Big Lie of Woke Capitalism
July 5, 2022
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Business & MarketsBusiness ColumnistsESG (environmentalOpinionsocial and governance)stakeholder capitalismThinking About ChinaViewpointswoke capitalism
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Commentary Apparently, the “woke left” in America is a big fan of free market capitalism and investing. At least, that’s what Slate’s Andrew Petillon would have us all believe in his recent article, “The Republican War on ‘Woke Capitalism’ Is Really Just a War on Capitalism.” That is nothing more—and nothing less—than a well-constructed lie….
Worries About a Fed-Triggered Recession
July 4, 2022
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Analysisbiden administrationBusiness & MarketsBusiness ColumnistsFederal ReserveinflationOpinionThinking About ChinaViewpoints
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Commentary Bloomberg News is concerned that rate hikes by the Federal Reserve to “fight inflation” may put the 2024 reelection of President Joe Biden and Vice President Kamala Harris at risk by pushing the U.S. economy into a recession. Here is an excerpt from a Bloomberg article on June 15 that identifies the political danger…
America in Crisis
News analysis The good news is that price hikes have pulled back a bit even if real-time aggregates are still running up 10 percent year-over-year. That’s better than it was two months ago, with food, transportation, and household durables rising at slightly slower rates. Utilities and education are up, however, so the bad news is…
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