Focus on Growth not Trade Balance

From the Wall Street Journal Editorials,  About That Obama Boom: A closing word to Trumpians who will point to the fourth-quarter decline in net exports that subtracted 1.7% from GDP. Part of the explanation is that a bumper crop of soybean exports boosted growth in...

Slower Growth with Less Equality

From the Wall Street Journal Editorials,  About That Obama Boom: Speaking of weak, growth for all of 2016 clocked in at 1.6%, the slowest since 2011 and down from 2.6% in 2015. That marks the 11th consecutive year that GDP growth failed to reach 3%, the longest period...

A Thousand Course Smorgasboard

from The Clinton Plan’s Growth Deficit by John Cochrane in The Wall Street Journal The rest of Mrs. Clinton’s economic agenda is a thousand-course smorgasbord of government expansions, with the same deficiencies. A random sample: Higher taxes on capital gains and...

Ass Backwards Policy

From Barron’s Stephanie Pomboy: A Grim Outlook for the Economy, Stocks by Leslie Norton The statistics bear this out. Over the last four years, U.S. nominal GDP growth has gone from 4.3% to 4.1% to 3% to 2.4%. The deflator, the inflation we are supposed to be...

Bridges to Stagnation

from The Clinton Plan’s Growth Deficit by John Cochrane in The Wall Street Journal America’s foremost economic problem is sclerotic growth. If the economy continues to expand at only 1% to 2% a year, instead of the historical 3% to 4%, then current economic and...