Market Interest Rates Are Fiction

First Things First—Where the Trump Administration Left Us Even acknowledging the effects of Covid-19 on the economy, the Trump administration’s economic record is quite remarkable. The largest post-war deficits since WW II.  This was going to be the case even before the Covid crisis. The three largest trade deficits ever, exceeding $800 billion.  The deficitContinue reading “Market Interest Rates Are Fiction”

Looking Forward to 2021 – Yes and No

I have no interest in a detailed review of this miserable year.  The C-19 illnesses and death by the tens of thousands, the daily trauma faced by our healthcare workers, the unemployed, the business closures, the food lines, the evictions, the sheer desperation of so many people, and on and on… I guess that IContinue reading “Looking Forward to 2021 – Yes and No”

Economic Systems, Political Labels, and Ignorance

In the recent political campaigns, there were a number of political labels thrown around.  The Republicans accused Democrats of being socialists and in more extreme cases, communists.  Obviously, the latter is particularly ridiculous, but that is today’s reality.  On the other side, the Democrats accused Republicans of being autocratic crony capitalists and fascists, with theContinue reading “Economic Systems, Political Labels, and Ignorance”

Markets and Market Failure

There is no question that capitalism and “free” unregulated competitive markets are the most efficient system for the allocation of resources to produce goods and services.  That includes a “capitalist command” economy like China. The fact is that there is no such thing as a free purely competitive market, despite what libertarians/conservatives may proclaim.  AgricultureContinue reading “Markets and Market Failure”

Federal Deficits, Debt, and U.S. Economic Growth

Background I have been a political independent my entire adult life.  Whether it is being caught up in the cult of Apple iPhones or a professional football team, I want no part of it.  This is particularly true when it comes to political parties.  In 2016 election I split my votes between presidential and congressionalContinue reading “Federal Deficits, Debt, and U.S. Economic Growth”