CalculatedRisk previewed the latest UCLA Anderson Forecast and Dr. Leamer is concerned that residential investment demand will decline – especially in California. Lawrence Kudlow suggests that Leamer and CalculatedRisk are “bubbleheads”. Kudlow gives a couple of interesting reasons for questioning forecasts of weak residential investment, but he also provides the following strange logic: Although year-to-date […]

Eduardo Porter’s New York Times article entitled Illegal Immigrants Are Bolstering Social Security With Billions describes how one Mexican citizen – along with perhaps seven million other “illegal immigrant” workers: are now providing the system with a subsidy of as much as $7 billion a year … Most immigration helps Social Security’s finances, because new […]

Liberalism and Growth Recently, I said I would try to make the case that liberalism causes growth. Certainly, correlations suggest that this is the case. For instance, income is substantially higher in Blue states than Red states. The inability of the Soviet Union to match the productive output of the United States is another example. […]