When freedom prevails, the ing...
When freedom prevails, the ingenuity and inventiveness of people creates incredible wealth. This is the source of the natural improvement of the human condition.
At this juncture that (low lon...
At this juncture that (low long-term rate level) is not an overly worrisome thing, but if (Fed policymakers) raise rates once more and again and long rates still haven't gone up, then they start to get a little worried,
If printing money helped the e...
If printing money helped the economy, then counterfeiting should be legal
We've moved further away from ...
We've moved further away from a rules-based system. We have a Greenspan standard, but we don't have any kind of a Fed standard.
I think the odds favor an ease...
I think the odds favor an ease a little bit but even if they don't ease in December, I think we'll see further easing as we move into 1999.
Business investment is on the ...
Business investment is on the rise, manufacturing activity is gaining momentum, and sustained job growth is just around the corner.
It will lead to an increase in...
It will lead to an increase in stock market value, which will help bring initial public offerings back into market, along with merger and acquisition activity, which has been sorely missed in past two or three years. That added financial market activity comes along with a lot of real economic activity as well.
I believe we were already in r...
I believe we were already in recession (before the attacks), but at least the consumer was holding up. Now we are virtually guaranteed to see spending fall. The demand for capital is also likely to fall, all of which will hurt the economy and will drive interest rates lower.
At this juncture that (low lon...
At this juncture that (low long-term rate level) is not an overly worrisome thing, but if (Fed policymakers) raise rates once more and again and long rates still haven't gone up, then they start to get a little worried.
Despite the decline in headlin...
Despite the decline in headline producer price pressures, the risks of deflation have clearly vanished and signs of inflationary pressures have emerged. With the Fed holding real rates below zero, we expect producer prices to continue their upward trend in the months ahead.
All of a sudden, this mystery ...
All of a sudden, this mystery of strong growth and low inflation doesn't seem such a mystery any more. This is exactly what the new economy is all about.
I do believe we're going to ha...
I do believe we're going to have better policies for the markets moving forward. I think we already saw the market move up in expectation of this.
The "human condition" is alway...
The "human condition" is always to push forward for the better and economics is the study of that process.
Bad monetary and fiscal policy...
Bad monetary and fiscal policy, often designed by the IMF, is the real cause of global problems. The only explanation for why government leaders continue to follow these policies is that by blaming markets, they avoid blaming themselves.
Data are pointing to very stro...
Data are pointing to very strong growth in the fourth quarter. The pessimistic viewpoint, which has seen its grip on reality slip to the last knuckle in the past few months, is now holding on by its fingernails.
Despite the drop, January reta...
Despite the drop, January retail sales are still up an annualized 0.9 percent over their fourth-quarter level. This is a solid start to the first-quarter data
In this environment, the longe...
In this environment, the longer the Fed holds real short-term interest rates below zero, the more inflationary pressures will increase, and the higher the Fed will be forced to lift rates when it finally tightens
Real GDP in the third quarter ...
Real GDP in the third quarter and into the fourth will clear 4 percent, ... The economy has recovered after the war very strongly.”
By cutting interest rates too ...
By cutting interest rates too far...the Fed is using the monetary equivalent of a corked bat, ... The end result will be more damage from lower rates, more volatility in future interest rates and more confusion about what monetary policy can and cannot do.
Those who fear deflation thoug...
Those who fear deflation thought they were watching a horror flick this morning when the PPI was reported as falling 1.9 percent in April
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