For the last few weeks, President Biden and his top advisors have launched his re-election campaign and have been crisscrossing the country touting what they say are the president’s many economic successes since he took office. They claim Mr. Biden’s policies – which they refer to as “Bidenomics” – have created millions of jobs, taken millions… Continue Reading
Category Archives: Economy & Markets
Forecasters Softening Views On Recession In 2023
As regular readers know, I have been surprised at how negative most forecasters have been on the US economy this year. Since the beginning of the year, most forecasters were convinced we would have a recession in the second half of this year, and many predicted it would be a serious contraction. Well, here we… Continue Reading
Economic & Market Outlook – Still No Recession
Many economists continue to forecast a recession in the second half of this year, due primarily to the Fed’s tightening of monetary policy and higher interest rates. But that recession has not arrived yet, as government fiscal policy is still stimulative; real interest rates are not yet restrictive (the nominal yield on Treasury bills remains… Continue Reading
Federal Tax Revenues Are Plunging In Biden Economy – Why?
President Joe Biden likes to brag about the masterful job he’s doing managing the nation’s economy. Earlier this month, Mr. Biden referred to “our historic economic progress” under his administration. “Historic?” Not even close. Gross domestic product grew at an annual rate of only 1.3% in the 1Q of this year, down by half from… Continue Reading
2023 A Great Year For Stocks So Far… But
We’re not even halfway through the year yet, but 2023 has been a great year for the stock market. The S&P 500 Index is up almost 15% for the year. Some market pundits are predicting 2023 will be one of the best years ever for the stock market. But what if I told you that… Continue Reading