by Mike Kimel Why Don’t Tax Havens Become Industrial Powerhouses Cross-posted at the Presimetrics blog. The other day I read somewhere (yet again) that low tax rates encourage development. Which got me to thinking about tax havens. I’ve noticed that places like the Cayman Islands, for instance, seem to be magnets for hedge funds, but […]

Industrial production and housing starts were reported today. It has been well covered elsewhere, but I though I would make a couple of comments. Compared to other cycles this recovery in industrial production continues to be moderate. It is stronger than in the weak recoveries, but compared to the depth of the downturns the rebound […]