Marxist economics

Featured image Yesterday, I mentioned Marine Le Pen’s advocacy of the use of two currencies in France. Patriotic, salt-of-the-earth Frenchmen would use the French franc; elitist bloodsuckers would use the Euro. Just kidding. Actually, the franc would be used for France’s “home economy.” The Euro would be used for international trade. Le Pen was hard pressed to defend this seemingly inane proposal during her debate with Emmanuel Macron. This account by CNN »

One Reason Why Trump’s First 100 Days Have Been a Huge Success

Featured image The hundred-days idiocy will soon be behind us, to be followed by some other excuse for Trump-bashing. The whole thing is silly, but apparently inescapable, so it is worth noting that the progress President Trump and the Republican Congress have made in reducing government regulations is a more substantial positive achievement than anything Barack Obama accomplished in eight years, let alone 100 days. The regulations that Congress rolled back under »

Small Business Optimism Spiking Since Election

Featured image The Bank of America’s survey of 1,300 small business owners finds a dramatic increase in optimism resulting from the election of President Trump and the Republican Congress: Small business owners’ optimism about the economy has turned around dramatically since before the election, according to a survey released by Bank of America. The number of owners expecting the national economy to improve over the next 12 months jumped to 51 percent »

How to Get Rich

Featured image When it comes to countries, there really isn’t any dispute. No country has ever gotten rich through high taxes, big government and onerous regulation. And yet, these are the very prescriptions that often are promoted by international organizations and left-wing politicians. Abir Doumit of the Center for Freedom and Prosperity Foundation is here to set the record straight. The path to national success is blindingly obvious, but too often is »

The Economy: Don’t Look Now But. . .

Featured image I don’t know what is going to happen with the economy, but one of the problems during the Obama years was the uncertainty of just how hostile to enterprise the Obama Administration was going to be. The stock market rally following Trump’s election could be attributed partly to relief that they’d be spared from things getting even worse under a Nurse Ratched Administration, and partly to optimism that Trump would »

The AP Debates Trump On Jobs

Featured image The Associated Press is bidding to overtake the New York Times as the most biased news source in America. To perhaps a greater degree even than the Times and the Washington Post, the AP has set itself up as the opposition to the Trump administration. Often, its bias has to be seen to be believed. As with this story: “Jobs report no longer phony, Trump says, now that it’s his.” »

Jobs Boom

Featured image ADP’s National Employment Report shows that the economy added 298,000 jobs in February. January’s number was also revised upward from 246,000 to 261,000. The February number was well above what most economists had predicted. “February proved to be an incredibly strong month for employment with increases we have not seen in years,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. For context, here are ADP’s numbers »

A miserable century?

Featured image Nicholas Eberstadt, one of the most perceptive analysts I know of, contends that “things have been going badly wrong in America since the beginning of the 21st century.” He makes a solid case, and I’m not here to dispute it, much less to argue that this century has been a bed of roses. Eberstadt attributes President Trump’s stunning victory to the “miserable” century Americans outside of the “bubble” have been »

Ford cancels plan for Mexican plant; WaPo refuses to credit Trump

Featured image Ford CEO Mark Fields announced today that Ford has canceled plans to invest $1.6 billion in a new plant in Mexico. Instead it will produce the vehicles the Mexican plant would have manufactured at facilities in Michigan and Illinois. The move is expect to create approximately 700 jobs in the U.S. The Washington Post buries this news in an article about Trump “targeting” American automakers, especially General Motors, by threatening »

Trump Stock Rally Spooks Liberals

Featured image Immediately after the election, arch-leftist Paul Krugman offered one of his worst predictions ever: It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of »

The Upside of the Animalistic Mr. Trump

Featured image John Maynard Keynes was right about one thing: economic dynamism depends on “animal spirits,” that is, the appetite for entrepreneurial risk-taking needs to reach a critical mass for an economy to boom. And this isn’t something that can be easily quantified, though the fact that new business startups under Obama plummeted is certainly one tangible measure of how the economy has been smothered in the Obama years. Hence, beyond specific »

Donald Trump’s first economic policy call

Featured image Yesterday, I wrote about what appears to be Donald Trump’s first foreign policy call — a telephone conversation with the Taiwanese president that signals to China the possibility of closer relations between the U.S. and Taiwan. I argued that this was a good call. I take the deal Trump worked out with Carrier to keep about 1,000 jobs in the U.S. to be the president-elect’s first economic policy call. How »

Can Trump deliver to his base on economics?

Featured image Donald Trump cracked the Democrats’ “blue wall” by narrowly winning Pennsylvania, Michigan, and Wisconsin. He accomplished this by attracting non-upscale white voters. He also took advantage, it seems, of lack of enthusiasm for Hillary Clinton among black voters in cities such as Philadelphia, Detroit, and Milwaukee. Has Trump thereby transformed the electoral landscape? The answer probably depends on the extent to which his policies improve, or will be perceived as »

Schumer identifies common ground with Trump

Featured image While Democrats around the country try to “process” what happened last week, wily Chuck Schumer is planning what will happen next year. The soon-to-be Senate Minority Leader announced that, unlike Republicans during the Obama years, the Democrats won’t reflexively oppose whatever the president proposes. Instead, they will consider each proposal on its merits and work with President Trump when they consider his proposals meritorious. Schumer isn’t just saying this to »

Early Returns on Trump’s Appointments Are Good

Featured image Donald Trump has been appointing members of his transition team, appointments that presumably foreshadow the ultimate composition of his administration. So far, I have been impressed by his choices. A case in point is Myron Ebell, who will lead Trump’s EPA transition team. The headline says it all: “Trump Picks Top Climate Skeptic to Lead EPA Transition.” Donald Trump has selected one of the best-known climate skeptics to lead his »

The Obama Years in One Chart

Featured image Obama’s approval ratings are doing fairly well these days—comfortably and consistently over 50 percent. This, while the number of Americans who say the country is on the “wrong track” is at or near an all-time high. One polling guru I know says that Obama’s good numbers owe to the fact that he looks good in comparison to Hillary and Trump, which makes sense. And also that the “wrong track” number »

A Manufacturing Catastrophe?

Featured image One of Donald Trump’s main campaign themes is that American manufacturing is in free fall, because of liberalized trade and foreign nations taking unfair advantage of us. There is something to the point about currency manipulation by China, and lower wage rates in Asia and Mexico are certainly a factor for some companies moving out of the country. And Trump is also correct to be targeting our highest-in-the-world corporate tax »