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Political Economics

Like everything in America the economics profession is deeply politicized. The chasm that divides the two sides of the cultural war is mirrored exactly by two sides equally entrenched in economics. This means that nothing an economist says can be taken at face value. The entire profession is now bogged down, failing to move forward, […]

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Production and Construction Pick Up

The last couple of days have brought us more news to support the notion of a solid, if unspectacular, recovery being well underway. Both industrial production and, more particularly, new home construction support a slightly optimistic outlook by growing more rapidly than forecast. So they’re worth noting. Yesterday we learned that industrial production which had […]

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Retail Sales Jump

One of our recent themes has been the underlying improvement in consumer confidence that has yet to manifest itself strongly in any of the headline numbers. There seems to have been a definitive change at the household level. Whether it has the strength to make a significant difference throughout the economy is yet to be […]

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