Our biggest challenge is an endless appetite for government spending and an unwillingness and inability to raise taxes enough to support it. The idea that infinite spending can be supported by a small percentage of taxpayer defies basic math and principles of human action. This has caused record deficits and a belief that deficits do not matter and that tradeoffs are no longer required.
Read MoreI tend to ignore sources that intentionally mislead using carefully selected facts, or writers who cannot describe an idea or thought without personal invectives and demonization.
Read MoreTypically, the economy rebounds sharply after a deep recession like 2008. The slow growth experienced could have shown a delayed effect unleashed by the Trump election. The market may have been cheering more for the removal of impediments to growth than it was to the prospect of tax cuts and deregulation. Emerging from a long period of slow growth may have the same effect as emerging from a deep recession.
Read MoreThe tariffs and the growing debt are threats, but bull markets do not require perfection. They just require sound fundamentals and a dearth of alternative investments.
Read More“The larger the state is, the more capable it is of picking winners and losers, and the more aggressively it will be lobbied to do so in a particular way. And while it is easily misunderstood in this age of the modern regulatory state, the tariff is perhaps the earliest example of big government — the state intervenes in otherwise free markets to bring about a result it finds socially or economically desirable. “
Read More“China targeted pistachios to inflict pain in a region where Republicans are politically vulnerable. About 99% of American pistachios are grown in California’s San Joaquin Valley, home of GOP Reps. David Valadao, Jeff Denham and Devin Nunes.”
Read MoreWhen Mnuchin claims that the steel and aluminum tariffs will only add a few cents to a beer can or a few dollars to an auto he displays as much ignorance as Nancy Pelosi who contends that a raise of only $20 a week is crumbs. It is the classic broken window fallacy of Bastiat, the inability to understand and acknowledge what is unseen.
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