The late Everett Dirksen, a long-serving Minority Leader of the Republicans in the U.S. Senate, is famously quoted as saying a billion here, a billion there, and soon we’re talking real money. That was back in 1969. At the time, a billion dollars was about one-tenth...
An estimated 150 million slipped down the economic ladder in 2020, the first pullback in almost three decades. One of the most economically significant trends of the past few decades has been the emergence of a global middle class. The expectation that this cohort...
This morning: Markets look set to rally strongly into Q2, but are they over-exuberant? The rise in deaths and new strains in Brazil hints the Covid war isn’t won yet, there are rising political risks in Europe, and widening wealth inequality is apparent everywhere....
You know, the school of thought that’s always warning about dollar debasement and inflation as a result of money printing. Here is a chart of gold over the last 10 years. It’s up about 10%. During this period we’ve run large deficits the entire...
U.S. forges ahead with plan to slap tariffs on nations that tax digital giants The U.S. is pressing ahead with plans to hit six nations that tax Internet-based companies with retaliatory tariffs that could total almost US$1 billion annually. Goods entering the U.S. —...