“It was a little cocker spaniel dog… and our little girl—Tricia, the 6-year-old—named it Checkers.” 

As a recovery gets underway after a recession, wouldn’t it be nice to have an equation that would forecast the peak of the profit rate cycle? Well, below is one. Profits are a function of labor share. If labor share rises, the profit rate will decline. Profits are also a function of optimizing the utilization […]

Sen. Elizabeth Warren (D-Mass.) was spotted being dropped off at Clinton’s home and remained there for about an hour, according to CNN and NBC News. A person familiar with that meeting confirmed that Warren did meet with Clinton. The same networks reported that Clinton also met at her home with Colorado Gov. John Hickenlooper, whose name has been […]

An open letter to John Cochrane and Jennifer Rubin Dear John Cochrane and Jennifer Rubin, I read with interest your column, Jennifer, which led me to your chapter, John, in Blueprint for America on trade and immigration. I have studied the history of the lump-of-labor fallacy claim for nearly 20 years and have have published several […]

[New British Prime Minister Theresa] May — who campaigned for “remain” in last month’s E.U. referendum — had vowed to unify her bitterly divided party by appointing “leave” and “remain” advocates alike to top posts. She has made good on that pledge. But she also chosen to banish Gove and others who had been critical […]

Here is a video from a market analyst on youtube.com. They basically view the market having already peaked and eventually will come down. So they give their views on why stocks are hitting highs and why things look so optimistic at the moment. You will also see in the the video how the profit cycle […]

Paul Krugman interpreted the recent decline of 10 year safe interest rates from extremely low to astonishingly low as a capitulation to stagnation. He argued (convincingly) that investors have decided that short term safe interest rates will remain extremely low for a long time (evidently at least 10 years) and that the post 2008 pattern […]