Tag: US Economy

The Next President Needs to Learn From Past Mistakes

The Next President Needs to Learn From Past Mistakes

Thirteen years ago, in summer 2007, I wrote a memo for the future president of the United States. The one who would take office in 2020. At the time, I had no idea who would win the 2008 presidential election, much less an election in the distant future. In summer 2007, Hillary Clinton was the...

The Consummation of the Consumer Society

The Consummation of the Consumer Society

The shock to Western civilization produced by the novel coronavirus that causes the COVID-19 disease is only beginning to register. Most commentators have focused on the political and economic dimension of a historical moment unlike any other, in which entire nations across the globe have moved...

How to Kill People to Save an Outmoded Idea of the Economy

How to Kill People to Save an Outmoded Idea of the Economy

US President Donald Trump will go down in history as the ultimate master of hyperreal politics. No matter how far he deviates from reality, the American public consistently expresses its approval. The further he wanders from rationality, even when the consequences are measurable in the number of...

Stock Shock: What Lies Ahead for Global Markets?

Stock Shock: What Lies Ahead for Global Markets?

Uncertainties continue to multiply over the coronavirus outbreak. US investors saw stock values plunge nearly 20% in the past three weeks. Cases of COVID-19, the new coronavirus, are proliferating outside China. To add to the bedlam, during last weekend a price war broke out between...

Is the World Economy Headed for a Fall?

Is the World Economy Headed for a Fall?

It’s not just the latest IMF forecast causing concern. Many straws in the wind point to tougher times ahead. The International Monetary Fund (IMF) has once again cut its global growth forecast for 2019. In its new semi-annual World Economic Report, the organization now projects a 3.3% growth...

America under Trump: From Global Bridge Building to Demolition

America under Trump: From Global Bridge Building to Demolition

The US is abandoning one of the G7’s founding principles: free trade. How could that be? Most normal people have an aversion to war. It brings on death, suffering, destruction and incalculable loss. We avoid it usually by diplomacy and negotiation in which all sides manage to get something...

The Daily Devil’s Dictionary: “Rebalance” Trade with Europe

The Daily Devil’s Dictionary: “Rebalance” Trade with Europe

Can America, a nation that claims to be leading the world and dominating the global economy, really function while mocking the notion of relationship? CNN has been following the White House’s accounts of conversations between President Donald Trump and European leaders unhappy about the trade...

Are Democrats Better at Economics?

Are Democrats Better at Economics?

A study looks into fluctuations in the US economy.  According to The Economist, the American economy has grown by an average of 4.4 percentage points under Democratic administrations since Harry Truman. Republican presidents, on the other hand, have only seen growth of 2.5 percentage...

How the US Interest Rate Might Affect You

How the US Interest Rate Might Affect You

With all the talk of an imminent interest rate hike, there are likely to be winners and losers.   With the economy steadily improving and unemployment rates continuing to drop, the US Federal Reserve (Fed) is expected to raise interest rates for the first time since 2006. Fed Chair Janet...

Is the Rising US Personal Savings Rate a Bane or Boon?

Is the Rising US Personal Savings Rate a Bane or Boon?

The rising personal savings rate may pave the way for strong consumer spending. The financial crisis that crippled the US economy in 2007 shook the global landscape. The aftershock sent the markets into turmoil resulting in the Great Recession, which saw the US economy’s gross domestic product...

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