Looking at the long-term budget projections from the Congressional Budget Office, which are based on current legislation, a key problem is that interest payments on past borrowing start climbing higher and higher--and as those have over-borrowed on their credit cards know all too well, once you are on that interest rate treadmill it's hard to get off.
If we looked at the investment banking outlook reports for 2021, one of the main consensus themes was a strong conviction on a rapid and robust eurozone recovery. They were wrong.
In US-based conversations about China-US trade, it sometimes seems to me that the working assumption is that China's economy is heavily dependent on trade with the United States--which in turn would give the US government strong leverage in trade disputes. How true is that assumption?
Central banks do not manage risk, they disguise it.
For every college professor, teaching is an important part of their job.
In this podcast, I discuss with Jeff Deist the post-Covid economy from the framework of my newest book, Freedom or Equality.
The pace of global recoveries since 1975 has been slower and weaker, consistently every time, according to the OECD.