Category: Economy

I bet you've never seen St. Augustine, Florida like this

St, George Street in the old town of St. Augustine, Florida is always packed with tourists, shoulder to shoulder. Daytime or night time, it always looks like this (below). Not today, in broad daylight (above). Hardly a soul to be seen; not a dollar changing hands. We visited it today and took the picture of the... Read more »

The coronavirus cure is worse than the disease -- II

The fear that the coronavirus could be worse than the disease is finally breaking through. Read this in the Wall Street Journal: As Economic Toll Mounts, Nation Ponders Trade-Offs Cost of confronting pandemic is millions of jobs, trillions in wealth lost to save potentially millions of lives The nation’s costly fight against the coronavirus pandemic is... Read more »

The coronavirus cure is worse than the disease -- I

UPDATE: Part II of The coronavirus cure is worse than the disease is found here. America’s and the world’s economies are being torpedoed on the basis of rampant speculation. Call it science, but it’s still speculation. That’s because every single analysis about the gravity of the coronavirus pandemic is based on a fatal  flaw: There’s no way to... Read more »

Is the collapse of the U.S. economy driven by Covid-19 fears justifiable?

The question no longer is avoidable. The possible ruination of the U.S. economy at the hands of the extreme measures taken to prevent the spread of Covid-19 is a reasonable question that has become more and more urgent. The question is again brought to the forefront by California Gov. Gavin Newsom’s shelter-in-place dictate for the state’s 40 million residents,... Read more »

Good analysis: Why socialism is on the rise.

From the Wall Street Journal: Boomer Socialism Led to Bernie Sanders Government policies limit millennials’ prosperity, Harvard economist Edward Glaeser argues. Will they realize more of the same isn’t the answer? Fifty percent of adults under 38 told the Harris Poll last year that they would “prefer living in a socialist country.”  That’s stunning, but... Read more »

Will Trump take responsibility for the next recession?

I’ve long thought that the course of America’s gigantic economy can’t be blamed fully on or credited to a single person, even if he is the powerful president of the United States. But he can do his share to boost or screw up the economy. We saw it when Donald Trump was elected and raised... Read more »

2016 is the worst year for Illinois manufacturing since the end of the Great Recession

According to the Illinois Policy Institute: The Illinois workforce shrank by 22,000 people in August, according to a new report by the Illinois Department of Employment Security, or IDES. Unemployed people dropping out of the workforce was the entire cause of the unemployment rate dropping to 5.5 percent from 5.8 percent on the month.  Read more. Read why... Read more »

Why I've stopped worrying about the federal deficit and debt

Because the younger generation has, in effect, told me that they don’t care about how much federal debt we load on them. In Nevada, they flocked to Bernie Sanders, the Democratic presidential candidate who promises Americans free this and free that but who has no realistic way to pay for it. Even taxing the filthy... Read more »

Why the stock market IS important

For most people, the stock market isn’t that important. That’s according to Edward Stuart, emeritus professor of economics at Northeastern Illinois University, who suggested in a recent appearance on WTTW’s Chicago Tonight not to worry about the recent market plummet. Tribune Pulitzer Prize-winning columnist Mary Schmich was so taken aback by the assertion that she followed up with... Read more »

Minimum wage increase forces closing of indie bookstore

Borderlands Books, a San Francisco independent bookstore, is closing because it cannot afford to pay the higher minimum wage imposed by the state of California. It announced on its website: So it fills us with sorrow and horror to say that we will be closing very soon. In November, San Francisco voters overwhelmingly passed a... Read more »