Last time I wrote the markets were in difficulty because of fears founded on potential weaknesses in the Chinese growth rate. It is a measure of our situation that the Chinese economy is emerging as the engine that can push or pull much of the world’s growth. But it isn’t the only economy with that […]

I should make a comment on the state of the economy, especially in view of my comments in mid-2006 when I started to urge caution to all who would listen. Here’s what I think is going on: First things are not as bad as the losses on the stock market suggest. That is to say […]