Saturday, June 6, 2020

Recommended reading

Steve Moore, a long-time supply-side friend from my Art Laffer and Jude Wanniski days, as well as the founder of the Club for Growth (of which I was a charter member), is now at the helm of the Committee to Unleash Prosperity. They put out a daily newsletter which I've been reading and enjoying. It focuses on current topics of interest and initiatives that can enhance the economy's ability to grow and (of course) prosper. Caveat: it does have a conservative bias.

You can subscribe here, and it's free.


Unknown said...

I find your posts very informative but I will take a Biden tax increase, some additional regulations and Green issues to be rid of the buffoon and bully who avoids the problems we now have by standing up holding a bible with no words of a statesman to bring us together. He who considers himself the "chosen one" and demeans women and governs by calling names and acts like a dictator.

Wkav said...

President Trump is not a do nothing statesman ,like his feckless predecessor.Tax cuts,reduced regulations,border security,trade deals,military supremacy.confronting the realities of our dangerous Chinese,Russian,Iranian adversaries,confronting allies who don't do their fair share,providing true benefits to minority communities in form of college education support,tax benefits,job opportunities ,and I could go on and on.No Trump is a doer,he isn't always pretty or politically correct,but he is good for America and says what he means.The alternative party is truly frightening and led by politicians and media who would undermine our great democracy.You really want sleepy demented Joe?Come on man!

randy said...

Maybe something less toxic and more positive will come from the ashes. Nicky Haley and Josh Hawley are both promising.

Benjamin Cole said...

In my present mood, I would vote for Attila the Hun if he was a pro-business of a guy.

Adam said...

Divide et Impera.
Socio divide, predicts other types of lack of unity. America should do all it can to unify. The strenght comes from unity.
The Big Tiger can wait longer than one generation.

Unknown said...

"...a billion people doing the same thing, at the same time, in a temporary state of madness."

Curious some of you think about this article and this systemic risk to the financial markets that doesn't seem to be discussed here much. Scott has pointed it out with this "pandemic" but is the recurring bug in the system just how easily this panic occurred and how repeatable it is?

JUMP by Michael Solana

Johnny Bee Dawg said...

Nikki Haley is as fake as it gets. Cuts & runs whenever the wind blows.
About as conservative & Constitutional as Low Energy Jeb, or John McCain, or Kasich, or POS Romney, or Little Marco.
Jeb never met a conservative idea he couldn't ridicule. His daddy was a Satanist. (322 Patriarch.) Grandma Pierce a Crowley acolyte.

All this chaos and "racism" in the streets and all over the media propaganda is the very loud Death Rattle of the Socialist agenda facing its existential threat....a prosperous lower & middle class!
Blathering underperforming CEOs going on trying to atone for fake transgressions, and fake racism.
Get on your knees, and lick those boots. Its all your fault.

PANDEMIC!! Everybody run and hide!! Dont go out!!! Unless you want to protest.

Trump is the man to flesh out the cabal, and at least expose it in the Bright Light to the America People.
Its up to the public to act from there.
Did we like February's record prosperity, or do we want to regress?
We shall see if America really loves America, after all.
Time will tell.

WealthMony said...

I am all for prosperity. Not in favor of calling the president a buffoon. I favor any politician who is for individual freedom, less government and more prosperity. Of course, those have to be defined, don't they?

I am concerned with the indication from the Fed that it will not raise short-term interest rates until 2023. That means it is not anticipating a robust recovery. I am expecting a quarter-by-quarter series of improvements until we are back to where we were in February. O Happy Day! I enjoyed hearing that blue collar workers' real earnings were rising, that unemployment for black workers was at historic lows, record high employment for other groups and overall low unemployment. I like prosperity for all except criminals. Put America to work! That includes some criminals, they can pick up trash alongside roads.

Frankly, I worry that this prosperity may not continue under a Biden presidency. I would certainly hope to be wrong if Joe is elected, but it worries me. He seems to lean to the lowest common denominator and, sadly, does not seem always to be clear headed. I am writing here only with regard to economic issues, not social. Therein Joe makes it impossible for me to support him.

Back to the Fed: its long-term predictions have not changed relative to employment and inflation. Let's just hope they are wrong on their timing. If they are, it means quicker prosperity for more people.

Thank you, Scott Grannis, for your service to your readers.

Postkey said...

Unleash Prosperity'?

Is a 'pipe dream'?

'The first principle is that all forms of economic output – literally all of the goods and services which comprise the ‘real’ economy – are products of energy.
Nothing of any economic value or utility can be supplied without using energy. . . .

If you want a succinct answer to this question, it is that ECoE (the Energy Cost of Energy) is rising, relentlessly and exponentially. The exponential rate of increase in ECoE means that this cannot be cancelled out by linear increases in the aggregate amount of total or gross (pre-ECoE) energy that we can access. The resultant squeeze on surplus energy has been compounded by increasing numbers of people seeking to share the prosperity that this surplus provides.
As a result, prior growth in prosperity per person has gone into reverse. People have been getting poorer in most Western advanced economies (AEs) since the early 2000s. With the same fate now starting to overtake emerging market (EM) countries too, global prosperity has turned down. One way of describing this process is “de-growth”. '