Aug 29

Weapons of Economic Misdirection

“Measurement theory shows that strong assumptions are required for certain statistics to provide meaningful information about reality. Measurement theory encourages…

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Aug 24

Playing the Chinese Trump Card

“I know the Chinese. I’ve made a lot of money with the Chinese. I understand the Chinese mind.” – Donald Trump,…

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Aug 15

Riding the Energy Wave to the Future

“Formula for success: rise early, work hard, strike oil.” – J. Paul Getty This week’s yuan devaluation was big news, but it’s…

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Aug 8

Closing the Sausage Factory

“Bureaucracy destroys initiative. There is little that bureaucrats hate more than innovation, especially innovation that produces better results than the…

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Aug 1

When China Stopped Acting Chinese

“The one thing I know for sure about China is, I will never know China. It's too big, too old,…

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Jul 25

Europe: Running on Borrowed Time

“I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically…

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Jul 19

Productivity and Modern-Day Horse Manure

“They just use your mind and they never give you credit. It’s enough to drive you crazy if you let…

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Jul 16

It’s Not Over Till the Fat Lady Goes

For the vast majority of investors, portfolio returns are generated by the equity markets or at a minimum heavily influenced…

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Jul 6

A Week of Unseen Things

“In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series…

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Jun 27

Shoot the Dog and Sell the Farm

“If this were a marriage, the lawyers would be circling.” The Economist, My Big Fat Greek Divorce, 6/20/2015 Greece is again all…

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Jun 20

Public Pensions: Live and Let Die

When you were young and your heart was an open book You used to say live and let live… But if this…

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Jun 14

The People’s Republic of Debt

It wasn’t that many centuries ago that China was the absolute economic center of the world. That center gravitated to…

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Jun 6

Cleaning Out the Attic

Three weeks ago I co-authored an op-ed for the Investor’s Business Daily with Stephen Moore, founder of the Club for…

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May 28

World War D — Deflation

Everywhere I go I’m asked, “Will there be inflation or deflation? Are we in a bull or bear market? Is…

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May 16

Secular Versus Cyclical: Notes from SIC 2015

The consensus I’m hearing and reading from the 500+ attendees at the recent Strategic Investment Conference is that this was…

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Apr 27

The Third and Final Transformation of Monetary Policy

The law of unintended consequences is becoming ever more prominent in the economic sphere, as the world becomes exponentially more…

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Apr 21

Half a Bubble Off Dead Center

I can sense a growing unease as I talk with investors and other friends, from professional market watchers and traders…

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Apr 9

Economists in Glass Houses

For many economists, the chicken and egg question is, which came first, consumption or production? What drives growth? Let’s continue…

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Mar 28

Living in a Free-Lunch World

“Everyone is a prisoner of his own experiences. No one can eliminate prejudices – just recognize them.” Edward R. Murrow,…

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