Daily Economy
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Old Oil Ads Were Reasonable on Climate Change
“An impartial reading of them reveals rational commentary on the knowns and unknowns of energy and climate. The ads are hardly controversial.” ~ Robert L. Bradley Jr. & Richard Fulmer
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Weak Growth for Real Personal Income Excluding Transfers
“Personal income rose in February but real income excluding transfers fell, suggesting a threat to real spending. The outlook for the economy has become highly uncertain.” ~ Robert Hughes
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Carl Icahn’s Creative Destruction
“Carl Icahn is a tour-de-force, relentlessly propelling creative destruction over his nearly 60-year career. Creative destruction is sometimes painful but ultimately good, and activist investors like Icahn should be celebrated rather than maligned.” ~ David Waugh
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Weekly Initial Claims Tick Up but Remain Near the Lowest Level Since 1969
“Weekly initial claims ticked up but remain near a multidecade low, indicating a very tight labor market. However, the Russian invasion of Ukraine, sustained elevated price increases, and a new Fed tightening cycle have boosted risks to the outlook.” ~ Robert Hughes
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Do Voters Make Poor Choices?
“The choices individuals make do not affect election outcomes. They make the choices that make them feel the best—and its difficult to say that by doing that, they are making bad choices.” ~ Randall G. Holcombe
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Microchips and Potato Chips
“The fact that we produce more Z doesn’t imply that we thereby can afford to acquire and use more Z. This reality is inescapable whether ‘Z’ stands for potato chips or for microchips.” ~ Donald J. Boudreaux
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Native American Tribe Hopes to Colonize the World With Digital Freedom
“If the Green Earth Zone project is successful, Native Americans – of all people – will have saved a few scraps of freedom. That they’re willing to share that freedom with the rest of us speaks volumes about the integrity of the Catawba people.” ~ Max Borders
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The Political Class Needs to Level with Us
“We are in for a long and difficult period, which began with the pandemic that disrupted supply chains and set off inflation, and now the war in Ukraine has compounded that.” ~ Llewellyn King
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Private-Sector Job Openings and Quits Remain Elevated
“Job openings and quits remained near record levels in February. Labor difficulties, material shortages, and logistical issues as well as high inflation, a newly initiated Fed tightening cycle, and global political and economic turmoil from the Russian invasion of Ukraine are raising the risks for the U.S. economy.” ~ Robert Hughes
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•
Consumer Confidence Improved Slightly as Expectations Plunged in March
“Consumer expectations weakened again in March, but improved present views offset the decline, lifting overall consumer confidence. Elevated price pressures, Russian aggression in Ukraine, and a Fed tightening cycle increase risks for the economic outlook.” ~ Robert Hughes
-
•
Old Oil Ads Were Reasonable on Climate Change
“An impartial reading of them reveals rational commentary on the knowns and unknowns of energy and climate. The ads are hardly controversial.” ~ Robert L. Bradley Jr. & Richard Fulmer
-
•
Weak Growth for Real Personal Income Excluding Transfers
“Personal income rose in February but real income excluding transfers fell, suggesting a threat to real spending. The outlook for the economy has become highly uncertain.” ~ Robert Hughes
-
•
Carl Icahn’s Creative Destruction
“Carl Icahn is a tour-de-force, relentlessly propelling creative destruction over his nearly 60-year career. Creative destruction is sometimes painful but ultimately good, and activist investors like Icahn should be celebrated rather than maligned.” ~ David Waugh
-
•
Weekly Initial Claims Tick Up but Remain Near the Lowest Level Since 1969
“Weekly initial claims ticked up but remain near a multidecade low, indicating a very tight labor market. However, the Russian invasion of Ukraine, sustained elevated price increases, and a new Fed tightening cycle have boosted risks to the outlook.” ~ Robert Hughes
-
•
Do Voters Make Poor Choices?
“The choices individuals make do not affect election outcomes. They make the choices that make them feel the best—and its difficult to say that by doing that, they are making bad choices.” ~ Randall G. Holcombe
-
•
Microchips and Potato Chips
“The fact that we produce more Z doesn’t imply that we thereby can afford to acquire and use more Z. This reality is inescapable whether ‘Z’ stands for potato chips or for microchips.” ~ Donald J. Boudreaux
-
•
Native American Tribe Hopes to Colonize the World With Digital Freedom
“If the Green Earth Zone project is successful, Native Americans – of all people – will have saved a few scraps of freedom. That they’re willing to share that freedom with the rest of us speaks volumes about the integrity of the Catawba people.” ~ Max Borders
-
•
The Political Class Needs to Level with Us
“We are in for a long and difficult period, which began with the pandemic that disrupted supply chains and set off inflation, and now the war in Ukraine has compounded that.” ~ Llewellyn King
-
•
Private-Sector Job Openings and Quits Remain Elevated
“Job openings and quits remained near record levels in February. Labor difficulties, material shortages, and logistical issues as well as high inflation, a newly initiated Fed tightening cycle, and global political and economic turmoil from the Russian invasion of Ukraine are raising the risks for the U.S. economy.” ~ Robert Hughes
-
•
Consumer Confidence Improved Slightly as Expectations Plunged in March
“Consumer expectations weakened again in March, but improved present views offset the decline, lifting overall consumer confidence. Elevated price pressures, Russian aggression in Ukraine, and a Fed tightening cycle increase risks for the economic outlook.” ~ Robert Hughes