@60minutes Fed chair says he worries about the national debt #nationaldebt #60minutes #federalreserve #debt ♬ original sound – 60 Minutes Donald Trump believes that Federal Chairman Jerome Powell will make decisions for the central bank based on politics. I must say that I do disagree with Trump’s stance on the role of the central bank […]

The attempted assassination of former President Donald Trump is reverberating around the world, to say the least. Domestically, it depends if you are a Democrat or a Republican. Each camp naturally views the event through their personal view of the world, which is basically unchangeable. If aliens landed from another planet and started wiping out […]

Back in 2008, I named a report after what Margaret Thatcher had told me about politics. I began that report by writing: Time is but a dimension that we divide up to mark its passing. Western thought, unfortunately, is linear, not dynamic. This has been the curse of Western understand­ing and knowledge. Time is but […]

  Japan remains the largest holder of the US as of May 2024, holding $1.186 trillion in Treasury securities and 14.7% of all foreign-owned US debt. China has been selling off its holdings in an urgent effort to distance itself from the US, but is currently the second-largest holder of US debt, carrying about $767.4 […]

California’s job market is contracting thanks to policies implemented by Governor Gavin Newsom. California was once a hub for technology but sky-high corporate and personal taxes have caused businesses to flee. Rampant crime has forced brick and mortar locations to shutter. Rising minimum wage costs have forced companies to automate low-skill positions. And the brunt […]

John Maynard Keynes in his 1936 book, ‘The General Theory of Employment, Interest and Money,” argued aggregate demand was too volatile to be stable and would lead to inflation or recessions. His theory honed in on spending as a means of price control. Low aggregate demand, Keynes argues, would lead to high unemployment and stagflation. […]

COMMENT: It was great seeing you here in Europe. It was even more interesting to see how the central banks are starting to use the ECM rather than wait six to nine months before acting. Back in 2007, your model turned in February, but the Fed Funds Rate did not drop to 3% until one […]

President Donald Trump                                                                                     March 19, 2020 White House 1600 Pennsylvania Ave, NW Washington, DC 20500   Dear Mr. President, As an economist with a proven track record, I have been called in by former presidents, world leaders, and central banks around the world during crises since 1985. I was summoned for help during […]

Economics is well known for rather unrealistic theories based upon fundamentally unsound principles, such as the assumption that all things remain equal. Reality parts with academics whenever such assumptions are drawn to a foregone conclusion. However, greater false assumptions, which go unnoticed, lie at the foundation of so many theories in economics – primarily the […]

In an interview on May 11, 2014, I explained on USAWatchdog that confidence always outweighs reality. “It’s basically what you believe. There have been all sorts of studies on fundamentals that say if interest rates go up, stocks go down.  It is simply not true.  The stock market has never peaked with interest rates twice in history.  […]