Ideology Versus Faith

Ideology: A manner or the content of thinking characteristic of an individual, group, or culture The integrated assertions, theories and aims that constitute a sociopolitical programA systematic body of concepts especially about human life or cultureVisionary theorizing Faith: Allegiance to duty or a person  Fidelity to one's promisesSincerity of intentions acted in good faithBelief and trust in and … Continue reading Ideology Versus Faith

The Demise of This Expansion is Greatly Exaggerated

Like the impending death of Mark Twain, the recent commentary suggesting that this economic expansion has lost its life is considerably overstated. Much has been said about the uptick in new claims for unemployment insurance, shown in the chart below, and its link to the restoration of restrictions by many governments in response to the … Continue reading The Demise of This Expansion is Greatly Exaggerated

The Economy: How Are Things Looking Now?

Analysts seem divided on where the economic recovery from the COVID shock stands. Some see recent news to be pointing to a still-vigorous expansion—a “V”-shaped recovery. But others read the news, including new COVID outbreaks, to be suggesting that the expansion is stalling out or even receding—that is, a “W” is unfolding. Putting the various … Continue reading The Economy: How Are Things Looking Now?

The Economy: Sorting Through the Pluses and Minuses

Initial claims for unemployment insurance jump and universities shut down campuses and return to all on-line classes—news pointing to a setback for the economy. In contrast, existing home sales surge and the stock market moves into record territory—news pointing to an ongoing rebound from one of the sharpest declines in history. What does it all … Continue reading The Economy: Sorting Through the Pluses and Minuses

A Trillion Here, a Trillion There: How Will the Federal Debt Problem Get Resolved?

“A billion here, a billion there, and pretty soon you are talking about real money.” Attributed to Senator Everett Dirksen (Illinois) One wonders how Senator Dirksen might react to the current federal budget outlook, given the nearly $3 trillion of red ink that has been spilled so far in the 2020 fiscal year and the wrangling … Continue reading A Trillion Here, a Trillion There: How Will the Federal Debt Problem Get Resolved?