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Archive of Articles in the "Economics" Category

From The Archives -- The COVID Generation

[ Posted Wednesday, March 12th, 2025 – 20:02 UTC ]

Program Note: Today is the final day I was too preoccupied with real-life stuff to write a new column (new columns will resume tomorrow), so I conclude my little look back at the COVID pandemic with a much later article than the last two. I wrote this before we were all completely out of the woods (pandemic-wise), mostly because I was exasperated with the silliness of the baby boomers dictating to all following generations: "You shall be known by a single letter" (which wasn't true at the time, for most of us), and also with the silliness of merely drawing an arbitrary line on a calendar and declaring "This generation will end at this year, and the next generation shall begin here!" To me, a "generation" implies a shared event or a shared perspective that is outwardly defined (such as the post-World War II baby boom), and not by an arbitrary division of years.

In any case, the term still hasn't caught on (at least, that I am aware of), so maybe I'm still just trying to (pun intended) make it "go viral." So here is my rare foray into sociology (or whatever you want to call it), just in the hopes that people start using it one day.

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From The Archives -- Gaming Out A Future Pandemic

[ Posted Tuesday, March 11th, 2025 – 16:10 UTC ]

The administration of President Donald Trump is showing us all, in real time, how not to tackle a widespread medical crisis. Because things are moving so quickly, though, it's tough to tell how much of their woefully inadequate response has been the fault of Donald Trump himself, Trump's scorn for experts of any type who know more things than he does (a category which includes many people, for obvious reasons), or Trump's advisors and aides who have been put in charge of a massive problem but whose main worry seems to be not ever contradicting Trump in public (no matter how wrong Trump gets things). It all adds up to making a bad situation much worse, which is precisely where we find ourselves now. Decisions are made for political reasons, or -- worse -- to avoid making Trump himself look bad in any way. This has shattered the confidence of the stock market, as evidenced by today's record-busting 3,000-point drop. The more time goes by, the more Trump's inadequacies are becoming impossible to ignore, even by his staunchest supporters. Donald Trump, quite obviously, does not have a clue what to do next, is instead out there blatantly lying about the situation on a daily basis, and we're all going to suffer as a direct result. No wonder the market's tanking.

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From The Archives -- Golfing While Rome Burns

[ Posted Monday, March 10th, 2025 – 16:17 UTC ]

Roman Emperor Nero didn't actually fiddle while Rome burned. It's a myth. Violins (or "fiddles") wouldn't exist for another 1,500 years or so, making the very concept impossible. That's not to say Nero might not have blatantly ignored a flaming crisis, of course, it's just quibbling about the literal meaning of the maxim. Now, American Emperor-With-No-Clothes Donald Trump didn't fiddle while the country was hit by a pandemic, either. Instead, he played golf. Twice. That's right -- in the midst of a huge crisis, Trump spent the entire weekend playing golf.

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Friday Talking Points -- Tariff Whiplash

[ Posted Friday, March 7th, 2025 – 18:57 UTC ]

While the biggest political spectacle of the week was the president's big speech to Congress, the biggest political news of the week was actually the American economy reacting to Donald Trump's on-again-off-again, now-you-see-them-now-you-don't tariffs. The whiplash began at the start of the week and hasn't fully subsided yet. Taken together with all of Trump's other disruptive wrecking balls, economists are now starting to talk about the possibility of an upcoming "Trump recession."

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Trump Recession Ahead?

[ Posted Thursday, March 6th, 2025 – 16:49 UTC ]

Is America headed for a "Trump recession" already? Economists are starting to get worried. So are consumers. And the stock market has been in a deep dive ever since the tariff threat became real this week. So the possibility now exists -- we could be headed for an economic trainwreck. And if it happens, there will be a big difference from normal business-cycle recessions, because this time the reason why it happened will be pretty obvious to everyone.

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Responding To Trump's Speech

[ Posted Wednesday, March 5th, 2025 – 16:35 UTC ]

I have to begin this review with the mandatory bit of pedantry which is required every four years. Last night, President Donald Trump gave a speech to a joint session of Congress. However, it was not technically a "State Of The Union" speech, since tradition dictates you have to have been in office for a whole year before giving one of those.

Nitpickery aside, let's do a quick review of how things went last night, shall we?

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Democrats Prepare To Respond To Trump's Speech

[ Posted Tuesday, March 4th, 2025 – 16:21 UTC ]

It is time for Democrats to step up to the plate. President Donald Trump will address Congress and the nation tonight, and will doubtlessly boast about all the wonderful things he thinks he has been doing. In doing so, he will also doubtlessly lie about many of them in shameless fashion, since that's what he always does. But Democrats need to not get distracted and remain focused on one thing above all else. Call it a return to: "It's the economy, stupid."

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Get Ready For Prices To Go Up

[ Posted Monday, March 3rd, 2025 – 16:43 UTC ]

So is everyone ready to pay more for stuff? Because that certainly seems like what is next on the agenda for the American consumer. We'll be paying more for food in the grocery store, more for electronic goods, and a whole bunch more for cars, starting tomorrow.

Or maybe not. You never know what's going to happen, since American trade policy will now be decided on a whim. By a man who simply does not understand how world trade works. Isn't that a comforting thought?

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Friday Talking Points -- Ronald Reagan Would Be Ashamed

[ Posted Friday, February 28th, 2025 – 19:10 UTC ]

Remember when the Republican Party, as a whole, absolutely revered the memory of Ronald Reagan? It really wasn't that long ago. Their devotion was so pronounced that we even took to using the term "Saint Ronald of Reagan" whenever we wrote about Republicans lauding him to the skies, just to poke fun at their deification (or at the least, canonization or beatification) of a politician that, in our humble opinion, really didn't deserve such devotion.

Jumping forward to the present, each incoming president gets to choose how to decorate the White House, which includes the art on the walls of the Oval Office. We have to say it was somewhat of a surprise to learn that Donald Trump in his second presidency chose to hang a painting of Reagan on the wall overlooking the same desk Ronnie used to sit behind. We learned this fact from the following article, which (please note) was written before what just happened in the Oval Office today:

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The Other Budget Battle

[ Posted Thursday, February 27th, 2025 – 17:30 UTC ]

I have to begin today with two apologies. The first is for writing about essentially the same subject for three days in a row. I do realize there are plenty of other things going on right now (European leaders visiting the White House, for one), so to focus solely on the budget process in Congress is a bit limiting. My second apology is for misunderstanding something in my last two columns, which is why I'm writing this one (for clarification).

What I got wrong (through a mistaken assumption on my part) is that there are actually two tracks to the budget battles in Congress right now. I have been conflating them into one, but this is not the case. What the House passed this week is a budget framework for the upcoming fiscal year, which won't start until October. It has nothing to do with this fiscal year at all -- that's the second track (that I missed).

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