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Following Up: The Mainstream Media Remains in Denial on Trade Policy and the Middle Class’ Woes

Two Fridays ago, I expressed the hope that the Washington Post‘s big new series on the decline of the American middle class would deal realistically with the impact of decades of trade policy decisions. The reason should be obvious – these decisions have undermined employment and wages in the U.S. manufacturing sector, which both dominates the nation’s trade flows and boasts an unrivaled record of enabling working class Americans to lead middle class lives.

Weekly Market Summary


Last week ended with extremes in equities, treasuries and volatility. That combination, together with positives in seasonality, were the primary catalysts for a positive week in the markets (post). But the gains this week were well beyond anyone’s expe…

The Keynesian PhD Brigade Strikes Again: Sweden’s Riksbank Joins The ZIRP Mania


  Folks, it’s a tyranny of the PhDs. Recently, the central bank of Sweden was subject to a withering tirade by that oracle of Keynesian rubbish, professor Paul Krugman, who accused it of “sado-monetarism” for leaving the Swedish economy exposed to the mythical economic disease of “deflation”. So the Riksbank threw caution to the wind, and…

Why the Sony Hack Really Matters

The most important lesson we may be learning from the hacking of Sony Corp. is also the most disturbing. From what Americans can know so far (and even officials lacking security clearances probably don’t know close to everything), it seems that the United States lacks cyber-war escalation dominance with North Korea as well as with China.