Trump’s claim of bringing back American manufacturing jobs is boastful with some truth. Since the manufacturing halcyon days of the 1970’s, the US Dollar was allowed to depreciate and cheap labor abroad sent US factory jobs into a multi-decade tailspin. Manufacturing output rose, but 8 Million jobs were lost. In his first…
Milton Friedman promulgated the Phillips Curve interpretation that posits a tight labor market generates higher inflation. Since 1967 this has been the primary tool of Central Banks and economists in forecasting inflation. During the previous generation it appeared that falling unemployment during an economic recovery would always trigger a strong…
Recently concern has risen over a pending low in unemployment data among other signs of a major stock market and economic top. While a bit presumptuous to assume unemployment can’t go much lower, it’s a given that when the economy peaks and heads toward a recession, unemployment will have bottomed and…
Apple became the first company to surpass the $1 Trillion market cap today, but they have no place in Trump’s mantra of “Making America Great Again”. Even Apple’s sales appear almost immune to tariffs from China or the US. In promising to bring back US Manufacturing jobs, our President’s messaging heaps an inordinate…
We all know intuitively that increasing demand combined with shrinking supply will elevate value. Thus esteemed economists are confounded by the “appearance” of below normal wage growth despite record demand for jobs and fewer workers available. False blame has been thrown at greedy corporations not sharing profits, at slack labor demand,…
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