Tag Archives: Obamanomics

Urban Inequality – the Paris Syndrome, U.S. Style

After stepping off an Amtrak train in Washington DC, you drag your luggage down a ramp into a nice, modern, well-organized space with waiting areas, newsstands and mid-priced eateries, plus a few retailers such as H&M. Overhead signs instruct you … Continue reading

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The Winner of the 2015 Ig-Nobel Prize, for the Worst Book by a Nobel Prize Winner Is . . .

Ignoble   adjective 1. Not honorable in character or purpose Synonyms: dishonorable, unworthy, base, shameful, contemptible, despicable, vile, degenerate, shabby, sordid, mean, dastardly Ladies and Gentlemen, thank you for attending our Annual Gala, where we present the Ig-Nobel Prize, our humble … Continue reading

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“The Policy Environment”—Bloomberg’s No-go Zone

A few days ago on Bloomberg Radio Tom Keene and Barry Ritholtz interviewed Stephen Stanley of Amherst Pierpont Securities, focusing on his gloomy outlook for GDP growth. Twice Stanley stated that the “policy environment” was holding back growth. First he … Continue reading

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Blinder’s Blinders

In a recent WSJ article, Princeton professor Alan Blinder, formerly vice chairman of the Federal Reserve, ruminates on the decline in productivity growth in the past couple of years. He methodically runs through various possible explanations for the slowdown. Is … Continue reading

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FT: Obamanomics Failed, but Don’t Blame Obama

In a Financial Times column titled “The riddle of black America’s rising woes,” Edward Luce spins a convoluted alibi to absolve Barack Obama of his egregious policy failures. He may have been President for the past six years, and Democrats … Continue reading

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Global Plague (Not Ebola – Econo-Imbecility)

Stock market jitters are not surprising. I have been shamelessly straddling the equity fence, saying rising earnings and low rates would enable stocks to “grind higher” but nevertheless the “risk of a correction” is high due to excessive complacency. Investors … Continue reading

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The Poverty and Inequality Party

Between 2001 and 2008 it was impossible to discuss economic issues with a liberal without getting a stentorious sermon about the evils of the “Bush tax cuts for the rich” and the resulting surge in income inequality. Now the Bush … Continue reading

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3-5% Inflation Will End this Rally . . . Eventually

Our bullish note of May 28 explained why stocks would manage to scale a new “Wall of Worry.” Since then stocks have climbed 2.4%; I think they are headed higher still. “Central bankers gone wild” are pumping liquidity into the … Continue reading

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Sins of Commission and Omission Curb GDP Growth

Bulls on U.S. GDP growth have been wrong for five years, and they are still wrong.  Q1 GDP grew just 0.1%.  Sure, weather was a problem, but, as Mr. El Arian points out, in a robust economy bad weather in … Continue reading

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Larry’s “Secular Stagnation” Excuse

Larry Summers disclosed his latest macro insights at an IMF Meeting last November, which he elaborated upon in a Financial Times article:  “We may . . . be in a period of ‘secular stagnation’ in which sluggish growth and output, … Continue reading

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