Who Gets the Blame for Inflation

Who Gets the Blame for Inflation

Consumer prices rose 7.0% in 2021, the largest increase for any calendar year since 1981. As a result, politicians across the political spectrum are working overtime to find someone to blame and attack. Some politicians on the left are blaming “greedy” businesses for...
Job Market Making Progress

Job Market Making Progress

Many analysts were disappointed by last Friday’s job report for December, but we think the headline masks an overall report that shows continued improvement in the labor market and a possible surge in small-business start-ups and entrepreneurship. Non-farm payrolls...
Welcome to 2022: The Winds of Change

Welcome to 2022: The Winds of Change

Welcome to 2022! We can’t imagine a more transformative year for America. After two years of unprecedented government actions, the winds of change are blowing hard. The economy has been buffeted by short-term factors since 2020; this year, long-term fundamentals...
Greedy Innkeeper or Generous Capitalist?

Greedy Innkeeper or Generous Capitalist?

The Bible story of the virgin birth is at the center of much of the holiday cheer this time of year. The book of Luke tells us that Mary and Joseph traveled to Bethlehem because Caesar Augustus decreed a census should be taken. Mary gave birth after arriving in...
2022: Moderate GDP, Persistent Inflation

2022: Moderate GDP, Persistent Inflation

From 30,000 feet, the COVID lockdown and re-opening played out pretty much like we thought. GDP collapsed in the first half of 2020, then exploded in the third quarter, followed by strong, but erratic, quarterly growth ever since. The fourth quarter data, when it’s...