Contemplating a limited military response to North Korea’s provocations

Ever since US nuclear technology was stolen by the post-war Soviet Union, the United States has avoided direct confrontation with nuclear-armed states out of fear of escalation into unthinkable nuclear warfare.

In a year, it may be time to short oil again

Second chances in life are a rarity.  But if you missed the opportunity to short oil in 2014, you may have another later next year.  The underlying dynamic that caused the 2014 oil price collapse—fracking--is still in full swing.  But OPEC and Russia, pinned in, are defying gravity for now.  They will not be able to do so forever.  Supply and demand eventually dic

Trump Tax Plan Offers the Biggest Bang for the Buck

Mr. Laurence Kotlikoff might want to reconsider his conclusion that "On Tax Reform, Ryan Knows Better" (May 12, 2017 WSJ).  The House tax bill lowers the corporate income tax rate to 25% (and the top personal income tax rate to 33%).

Letter to the editor April 3, 2017 US WSJ edition

Regarding your caption "Yield Curve Shows Growth is Still Worry (April 3, 2017)," the question is whether the yield curve shows anything at all any more.  

The Decline of Working Capital and Interest Rates

Your article "Zeal for 'Natural Rate' Draws Skeptics" (Wall Street Journal 12/12/16) questions why the natural rate of interest has fallen to zero.  

Larry Kudlow doesn't need a doctorate in Economics

Regarding the media's complaint that Larry Kudlow lacks a doctorate in economics (The Wall Street Journal - The Keynesians vs. Kudlow, Dec 22, 2016), the real question is why don't we value a degree in finance and accounting for our government economists?

Partial Repeal of Obamacare is the Best Option

Regarding the reform options raised in "Health-Law Backers Target Key Senators (Wall Street Journal December 24, 2016)," the best solution for fixing health care in the US is not repeal then replace Obamacare or replace then repeal.  Rather, it is partial repeal.

Cycles Subside in the New Economy

In "Investors transfixed by growth prospects need to key eyes on supply" (FT, March 30, 2016), Edward Chancellor argues that too much investment in an industry invariably creates too much supply, leading to the popping of speculative bubbles.  While this has been true historically of the industries quoted such as iron ore, housing, telecom infrastructure and semiconductors (TMT),

Wall Street Journal - Letter to the Editor 3/23/2016

“Low Rates Sting Insurers” (WSJ March 21, 2016) examines how low interest rates are raising premiums for long-term care policy holders and reducing profits for the insurers.  There is a solution to this problem, however.  Regulatory bodies could approve the purchase of preferred equity by insurers instead of limiting investments to interest-bearing debt.

Productivity - Missing or Hiding?

In “U.S. Productivity:  Missing or in Hiding? (July 17, 2015 WSJ), Microsoft’s chief

economist Preston McAfee hits the nail on the head when he speculates:  “Maybe our 

mysterious productivity gain is in the form of less inflation…”  

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