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John Tamny
John Tamny is editor of RealClearMarkets, a senior economic adviser to H.C. Wainwright Economics, and a senior economic adviser to Toreador Research and Trading (www.trtadvisors.com). He can be reached at jtamny@realclearmarkets.com.
In much the same way, other commentators see recovery as something around the corner thanks to strong increases in the supply of money. To believe this is to put the...
In an article from February of 2008, it was questioned whether commodity currencies are actually bolstered when commodities themselves show nominal strength. What was...
This is notable considering the global response to the financial problems in our midst. Politicians and the regulators they oversee, seemingly unconcerned by how...
In the aftermath of World War II, arguably the most powerful reason for worldwide economic recovery had to do with the world being on a dollar standard, while the...
But when considering work, it should first be said that it always exists wherever there are people. Given the basic human need for the necessities of life, absent an...
Geithner began by blaming Americans in total for the nation's economic difficulties. He wrote in the Wall Street Journal that, “as a nation we borrowed too much and...
Indeed, it’s possible that the Republicans have figured out that the spending explosion this decade on their watch led to market returns under President George W. Bush...
Schumpeter was of course talking about a United States that he envisioned post World War II, but his fears then don’t stray too far from the concerns of many today. ...
The logic with housing is completely backwards. The economy is not sagging because home prices have moderated, but it wilts because a weak, inflationary dollar this...
The above is an appealing thought, but it seems mark-to-market’s opponents blame a rational theory of accounting for the real issue weighing on banks. In this case,...
But most important for an economy very much reliant on the efficient deployment of what is precious human capital, it’s frequently the case among those made redundant...
Worse when it comes to banks, once under government control they either are forced to invest conservatively, in politicized ways, or in the case of the alleged...
And just as the richest in America are a moving target, so are the top companies. For evidence of this, all one would need do is take a Fortune 500 list from 1980, and...
What’s scary is that with the federal government now more than a rent-seeking partner in our financial future, it’s easy to imagine how our Washington minders might...
After acknowledging that Americans had “lost faith” in an economic rescue plan that he was a principle architect of, Geithner added understatement in suggesting that...
But since Obama is stridently of the view that the world’s richest and most innovative economy can’t grow without federal assistance, a thought experiment is in...
So in periods when gasoline is in short supply, the natural spike in its price is the happy market signal that scarcity will eventually be relieved with new supply. The...
So while President Obama is not presently seeking the implementation of Soviet-style economic cures for the U.S. economy, his economic agenda very much embraces the kind...
Sadly, news accounts since October have yet again shown that when the rich are hurting, the poor hurt even more. The logic underpinning trickle-down economics is...
All of the above takes on greater prominence in light of Treasury Secretary Tim Geithner’s statements about China last week. After mouthing the increasingly...
Eager to attract support from the Republican side of the aisle, Obama has expressed a high degree of willingness to include tax cuts in his post-inauguration...
And with President George W. Bush set to depart the White House today, it’s perhaps useful to look at his policies through a supply-side prism. Sadly, for a president...
At first blush it should be said that economies grow when the ideas of entrepreneurs are matched with capital. Joseph Schumpeter wrote that entrepreneurs “disrupt”,...
And if goverment economic statistics aren’t misleading investors about the health of the economy, they’re frequently telling us long after the fact what has actually...
While Jaguar’s sleek styling never disappeared during its nationalized years, the quality of its cars surely did. For anyone who knew Jaguar owners during the ‘70s...
In a 2003 speech made while vice chairman at the Fed, Bernanke spoke of looming inflationary pressures thanks to high levels of U.S.-based capacity utilization, and in a...
Thanks to the modern division of labor that is happily comprised of more and more self-interested individuals the world over, the average person can “know very little...
In a recent article for Vanity Fair, Stiglitz engaged in falsehoods and contradictions in order to blame capitalism for our present troubles. It would perhaps be better...
Fast forward six years, and something similar with regard to the U.S. carmakers has revealed itself. Desperate for federal money to save that which investors have left...
The mistake Roubini and other economists make is in tying changes in consumer prices to changes in the broad price level. More realistically, the price level can only...
Why are VCRs cheap? Not because there are too many of them; instead they go for near nothing due to the fact that they’re no longer useful. DVD technology is faster...
The notion that consumption is the economy’s driver is not new. We’re regularly told that consumption constitutes 70% of our economy; a notion that couldn’t be...
So instead of pricing in the present, stock markets are most useful for offering a snapshot of what things will look like in the future. Treasury Secretary Hank Paulson...
None of this should surprise us. By definition, federal money invested in private companies can only weaken them. Money supplied absent the sometimes rough hand of...
Across the Atlantic in the United States, something similar was at work. Decrying the consumer culture which prevailed during his presidency, President Jimmy Carter...
Roubini’s analysis has attracted a lot of attention of late for his view that the moderation of this decade’s housing boom would lead to a financial crisis. The...
The above is the case because businesses rarely fail due to a lack of money. Instead, poorly run businesses find it hard to raise money in the capital markets. ...
All of this is relevant to the present considering the “mood shift” against free trade in Washington. As a Wall Street Journal article from last week noted,...
Kennedy-Johnson. By 1960, there was a growing consensus in certain economic quarters for the U.S. to leave the Bretton Woods gold-exchange standard. Happily, John F....