Steve

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…”  

Lack of income for seniors is a distortion of the tax system

Wall Street Journal Letter to the Editor

Time to Pay the Piper

Wall Street Journal Letter to the Editor Submission

US GDP Growth is only 2.4%, not 3.9%

The press is reporting today that the US achieved GDP growth of 3.9% in the 3rd quarter.  However, on a year-over-year basis, GDP growth was only 2.4%.  3.9% is the sequential growth from Q2 to Q3.  No company reports results this way.  Why does the US government?  Sequential reporting is subject to government statisticians seasoning their stew

Corporate Tyranny in the Land of the Free and the Home of the Brave

In this speech from 1936, Roosevelt explains that political equality is of little use unless there is equality of opportunity in the marketplace. Franklin D. Roosevelt: Acceptance Speech for the Renomination for the Presidency, Philadelphia, Pa.

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