In response to the chaotic outcry of Americans over the Coronavirus, President Trump has made moves to inject additional funds into the economy. Veering away from the term “stimulus,” the proposal resembles that of the auto and bank bailouts. But do these bailouts help or do they hurt? Is this what we need to counteract…
Because its denial is incessantly repeated, the following truth must be incessantly restated: we ordinary Americans are fabulously rich and getting richer. The irony is that we are so very materially prosperous – with a prosperity that is shared by nearly all Americans – that we take our happy condition for granted. Most of us don’t see…
President Donald Trump is trying to advance two conflicting narratives about the US economy. A pair of tweets the president recently sent out within an hour of each other demonstrates the bizarre balancing act he’s trying to maintain. The Fake News LameStream Media is doing everything possible the “create” a U.S. recession, even though the…
The economy is growing, revenues are growing, unemployment is low, and yet the U.S. government’s budget deficit is exploding. According to the Department of Treasury, nine months into the beginning of the fiscal year, the U.S. budget gap has increased to $747 billion. Since there are another three months to go, it will very likely reach…
In Greek mythology, Psyche was a woman of such beauty that she inspired jealousy in the love goddess Venus. The 19th-century Italian astronomer Annibale de Gasparis named a massive asteroid after her. How appropriate that it turns out that 16 Psyche, one of the biggest asteroids in the asteroid belt, is made out of a…
I wish my leftist friends understood the Laffer Curve. I also wish they understood the downsides of artificially low interest rates. And the Rahn Curve. And comparative advantage. The Economy is Not a Zero-Sum Game But perhaps more than anything else, I wish they understood that poor people aren’t poor simply because rich people are…
James Carville famously said about politics that, “It’s the economy, stupid”. So what is our current economy telling us? Unemployment is at a 49 year low. Wage growth is strong (a steady 3%, the highest in about ten years), outpacing inflation (which has been steady at roughly 2%), as companies are competing to gain or…
Tim Pearce Public education employees such as teachers and janitors are quitting jobs in record numbers, an uncommon trend in a profession that often rewards longevity, The Wall Street Journal reported. Many industries in the past year have seen a historically high rate of workers quitting. A tight labor market and sluggish wage growth are making job…
LISTEN TO TLR’S LATEST PODCAST: While Congressional Republicans bicker over tweaks to the Affordable Care Act, the federal debt prepares to pass the $20 trillion mark. That might sound like a lot, but it’s small potatoes compared to what lay ahead. The CBO projects the debt to balloon to $92 trillion by 2047. What is…
LISTEN TO TLR’S LATEST PODCAST: By Ryan Pickrell North Korea’s economy experienced significant growth last year despite international sanctions, South Korea’s central bank revealed Friday. North Korea’s gross domestic product soared 3.9 percent, the most substantial economic growth since 1999, the Bank of Korea introduced in a new report. North Korea does not publish economic data,…