One of the painful realities of life as an economist and professional speaker is that the subject matter of economics is typically viewed (with good reason!) by the general public as confusing, intimidating, and boring. As a result, trying to present weekly economic and financial information with an unusual twist can occasionally be a most [...]
Archive of entries posted in the year 2010
Global ABCs
This is the companion piece to Domestic ABCs of November 23, 2010 Austerity—the painful focus on limiting or reducing government spending across southern Europe as European authorities, the IMF, and global financial markets demand various nations live within their means. What a concept! Budget Deficits—unprecedented government spending around the world to offset financial chaos during [...]
English
It’s the year 2012… …your employer, a major global firm, announces that within two years all meetings and written communication within the company will be based on or conducted in Mandarin, the primary language of China Imagine our shock…our anger…our displeasure at the need to suddenly learn an extremely difficult language, all in the name [...]
A Favorable Tax Deal
Just imagine… …a liberal Democratic President striking a deal with conservative Republicans…while other liberal Democrats are fuming! Monday’s announcement of an agreement between the Obama Administration and the Republican Congressional leadership was a positive development. Both sides gained at the bargaining table, while both sides also gave on issues they find distasteful. Meanwhile, about-to-be-outgoing Speaker [...]
Outlook 2011
The U.S. Economy While the American economy has now registered growth for five consecutive quarters, the pace of that growth has been meager, averaging a 2.9% real (after inflation) annual rate…and just a 2.1% rate during the past two quarters. Such growth trails the average 3.6% real annual growth pace of the past 30 years. [...]
Domestic ABCs
This week’s Tea Leaf is our semi-annual alphabetic view of the U.S. economy. Global ABCs will soon follow… America—prospects for solid economic growth are still limited, but getting the mid-term elections out of the way helps reduce uncertainty. Any political moves toward cooperation would really help Budget Deficits—averaging $1,350,000,000,000 each of the past two years…a [...]
Two Steps Forward
Of the three major economic and financial developments of the past week two could be viewed positively, while one falls into the “wait and see” camp. First up, American job creation was better than expected during the month of October. In addition, employment data of the two prior months was revised to be less ugly. [...]
35 Miles Per Hour
The American economy is a modified “hot rod” featuring two separate gas pedals—with each pedal pushed fully to the floor. Despite this fact, the American economy is lumbering down the track at a less-than-blistering 35 miles per hour pace… …someone please release the brake Actually, this moving contraption has a variety of hand brakes…all engaged. [...]
Next Week
On the morning of Wednesday, November 3, 2010, literally tens of thousands of political writers, economists, lobbyists, soothsayers and bloggers will be providing their own “instant analysis” of what transpired politically the prior day. Some are likely to suffer major disappointments, while others will possibly see the benefits of a new beginning in Washington DC [...]
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