Sunday, December 9, 2018

The Housing Boom Is Already Gigantic. How Long Can It Last?

We are, once again, experiencing one of the greatest housing booms in United States history.

How long this will last and where it is heading next are impossible to know now.

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Friday, November 23, 2018

Silent Inflation

Inflation targeting is supposed to reduce uncertainty about prices. But keeping the inflation target at 2% or more, might actually increase a sense of uncertainty about real things like home values or investments.

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Monday, September 24, 2018

Do Spectacular Earnings Justify Spectacular US Stock Prices?

With share prices and corporate earnings moving together on a nearly one-for-one basis, one might conclude that the US stock market is behaving sensibly, simply reflecting the US economy’s growing strength. But the stock market has not always been so dismissive of the volatility of earnings.

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Saturday, August 11, 2018

The Economy Grew Even Faster in Truman’s Presidency. So What?

Based solely on a few headline numbers, the American economy looks good. But it would be a mistake to read too much into the data — or to give too much credit to President Trump.

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Tuesday, July 17, 2018

How to Protect Workers Without Trade Tariffs

Donald Trump’s trade war is an international tragedy. But it could have a happy ending if it eventually reminds us of the risks that free trade imposes on people, and if we improve our insurance mechanisms to help them.

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Sunday, June 24, 2018

Once Cut, Corporate Income Taxes Are Hard to Restore

The Trump corporate income tax cuts are the latest in a decades-long trend of tax reductions that have been substantially reversed mainly during times of war.

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