James K. Galbraith explains why a new effort to revive an old economic-policy doctrine is doomed to fail. Read More
What economists have argued for generations is now reflected in public opinion: Americans see free trade as the better alternative to... Read More
Is the Fed being roped into easing? Read More
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For most retirees, the greatest fear is not death—it is running out of money before they die. Read More
SpaceXAI spent $18b of capital last quarter, $16b of it on AI, a hyperscaler's budget covered 12% by operations. Equity & credit have both... Read More
The moment a company starts prioritizing its stock price over its product quality, it’s headed in the wrong direction. It’s the... Read More
Here is the most important investment principle of the artificial intelligence (AI) era: find the bottleneck holding back an industry. Read More
Nearly 240 years after drafting the Constitution, the Founding Fathers still seem to have gotten far more right than wrong. In the main, our... Read More
In speeches, Nvidia CEO Jensen Huang tells rapt audiences that Artificial Intelligence (AI) is “work.” Yes,... Read More
Here's why. Read More
Imagine a judicial system that announces a verdict in February, files charges in March, convicts all sixty defendants in June, and then acts... Read More
The longtime culture warrior is now talking about affordability and complaining about the economy. Read More
Mayor Mamdani’s plan would harm neighborhood retailers instead of helping low-income families buy food. Read More
The pied-a-terre tax targets far more than billionaires, potentially hitting nearly 1 million New York City homeowners and crashing condo... Read More
This is a buying opportunity Read More
Yes, his fund is down to $10 billion in assets from its high of $45 billion, but even with his massive puke, he’s still up around 80% for... Read More
The U.S. Treasury Department’s official reason for intervening in the Japanese yen last week was to prop up a major currency that is... Read More
In late April, United Steelworkers (USW) members got a text message that should have been reassuring but, instead, raised more questions than... Read More
Summer heat causes hundreds of workplace deaths each year Read More
A neutral, sourced catalogue of dated AI forecasts — both falsified and currently open. Read More
REITs have done well this year. Are they still a buy? Read More
Transform your brain from foe to friend. Read More
Is today’s stock market inexplicably serene, or is it convulsing in frenzied volatility? Depends on what you're watching... Read More
Grocery stores all have the same margins for a reason. Read More
Once completed, the 2,177-kilometer GCC Railway will connect six Gulf kingdoms and provide alternative routes to Europe and Asia. Read More
Long-term government bond yields are on the rise yet again. Read More
NGDP is growing too fast. Read More
The S&P 500 was flat but the details were more interesting. Read More
Gold and bitcoin have retreated from recent highs, but most major market indicators still sit above long-term averages. Read More
Markets remained mixed for a second month in July, based on a set of ETFs tracking the major asset classes. Read More
Relax: Warren Buffett isn’t predicting a stock-market collapse. Read More
The stocks of these high-quality companies look cheap today. Read More
The 60/40 portfolio is broken because equity returns are driven by AI concentration rather than the business cycle, while bond returns are... Read More

The recently enacted 21st Century ROAD to Housing Act echoes the belief that homeownership is an important part of the American Dream, an idea that goes back to the 1950s. One foundation of this belief is the perception that homeownership promotes wealth accumulation for individual homeowners. We need to re-think this perception in the modern era. Relative to renting, owning a home con... Read More
The moment a company starts prioritizing its stock price over its product quality, it’s headed in the wrong direction. It’s the beginning of the end. We learned that over thirty-four years building Papa John's – from a broom closet in the back of my father’s tavern in Jeffersonville, Indiana, into a global brand. And in those years we came to understand something Wal... Read More