The capitalism that has become dominant in the years since the 1980s is not about enough; it’s about more, and no amount of more is ever enough.
Read moreThe Capitalist Culture That Built America
The firm that he founded would evolve into one of America’s most important investment banks, Brown Brothers Harriman, which is still in business today.
Read moreTrump Got China All Wrong. Now Biden Is Too.
Toughness in the face of China may be good domestic politics, but it is still bad policy if the goal is enhancing U.S. economic power and global security.
Read moreWhy You Should Be Wary of Claims That the Stock Market Is in a Bubble
Almost exactly a year ago at this time, I warned that markets were due for a sharp correction and that the emergence of COVID-19 was more than a valid reason.
Read moreAmerica's Cities Are in Crisis. They Should be Allowed to Raise Debt to Save Themselves
That kind of help from the federal government has been sorely lacking during the pandemic—and is utterly essential to any meaningful and sustainable economic recovery for the whole country.
Read moreHow the GameStop Trading Surge Will Transform Wall Street
That has often been the case, but then came the GameStop phenomenon when a tsunami of that so-called dumb money flooded parts of the stock market, leaving Wall Street professionals not just scratching their heads but a few of them badly wounded.
Read moreWhat Can We Expect After the Pandemic?
Zachary Karabell reviews four books that focus on what we should expect after the pandemic: The Corona Crash, Life After Covid-19, Post-Corona, and The New Great Depression.
Read moreIf We’re Serious About Saving the U.S. Economy, We Need to Bail Out the Cities
As the United States heads into its grim pandemic winter, Congress remains deadlocked on passing a new stimulus bill.
Read moreTrump’s China Tariffs Failed. Why Isn’t Biden Dropping Them?
In an interview this week, President-elect Joe Biden said that he’s not planning to reverse tariffs on Chinese goods imported into the United States as quickly as he plans to reverse other Trump-era policies…
Read moreAs Congress Fails to Act, Only the Fed Can Save the Economy
With COVID-19 surging across the country, and state after state enacting new restrictions as individuals adjusting to a more widespread contagion, these programs could be needed in the coming months, just as Mnuchin is attempting to end them.
Read moreIf We Don't Move Fast, the Economy Is Going to Get Much Worse
Regardless of the electoral outcome, doing nothing until February 2021 after a new Congress and President are sworn in could well plunge the country back toward the depths of March when a major depression seemed upon us.
Read moreThe Ugly Partisan Truth Behind President Trump's Stimulus Roadblock
That fact alone would suggest the need for further government stimulus, but hope for that faded after the president announced that he was uninterested in further stimulus bill until after the election, though he then backtracked and suggested he was open to some action.
Read moreAmerica is a Tale of Fractured Economic Realities and That's Stopping Us From Fixing this Crisis
Given how much economic damage the pandemic continues to cause, it seems astonishing that Washington has been unable to muster any action since the spring.
Read moreThe Fed Finally Realizes That Inflation Isn’t Coming
Can History’s Biggest Stimulus Stave Off a Coronavirus Depression?
he New Deal set the standard for big government intervention. Then came the pandemic of 2020.
Read moreFor Once, Wall Street is Optimistic. That Might Not Be Crazy.
Any look at the news suggests that we’re in the early stages of a society-changing response to an unpredictable virus that will have vastly negative consequences for the economy, not just in the U.S., but around the world.
Read moreThis Market Chaos Is Unlike Anything We’ve Seen Before. But Remember to Breathe
For weeks, I watched the evolving coronavirus crisis the way one observes an avalanche: it looks distant until suddenly it is upon you. I was inclined to take advantage and “buy the dips.” Then, something snapped: I started selling. I wanted cash. I panicked.
There. I said it.
Read moreThe Coronavirus Will End Conservative Dogma About Big Government Forever
The sheer urgency of the new coronavirus and its damage are overpowering free markets, shuttering businesses and triggering responses that only four weeks ago looked impractical, naive and socialist. Now, they are essential.
Read moreTrump Is Actually the President We Need Right Now
This past week, however, one thing became clear: Donald Trump may be exactly the president we need now.
Read moreWill the Coronavirus Bring the End of Globalization? Don’t Count on It
Over the past week, the coronavirus has gone from an Asian contagion with ripple effects on international supply chains to a global pandemic that will plunge the whole world into recession.
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