Leadership Changes Are Essential

WASHINGTON: I’ve been asked multiple times in the past week whether the January 6th invasion of the US Capitol undermines American democracy.  My reply is yes, the pro-Trump mob posed a threat, but it was rather quickly turned back despite the tragic loss of five lives. The president, of course, bears much of the blame for the catastrophe. While he did urge non-violence in his otherwise … Continue reading Leadership Changes Are Essential

The China Price, Central Banks and Why Inflation is so Low

Why has U.S. inflation been so low over the past decade when unemployment was often near record lows? Economic theory holds that a tight labor market results in upward pressure on wages. It also suggests that exploding government debt and easy money are inflationary, both of which we’ve had but with little effect on the price level. U.S. inflation averaged only 1.7% over the ten-year … Continue reading The China Price, Central Banks and Why Inflation is so Low