We live at a time when extreme voices get the most attention and so it is tempting, following a string of weak economic numbers, to yell the word “recession”. However, a balanced assessment of demand and supply suggests that we are, thus far, merely transitioning to slower growth. A slower growth path is a more vulnerable one, particularly because excessive ... Show More
Nov 24
The Health of the Consumer
<p>I was watching a football game over the weekend and I saw a giant lineman go down. He was in obvious pain and hobbled, assisted and very slowly, to the sideline. The TV commentators, to my amazement, said he didn’t look too bad and he was probably healthy enough to return to t ... Show More
11m 46s
Nov 17
Why a 1:13 expansion feels like a 1:20 recession
<p>In our age of overwhelming technological progress, I still cling to the simpler practices of my youth. I read books rather than tablets, write with an ink pen in cursive rather than text with my thumbs, and attempt to use mental arithmetic, rather than a calculator, in solving ... Show More
11m 9s
Nov 3
The Importance of Navigation in the Dark
<p id="ember886" class="ember-view reader-text-block__paragraph">I was rewatching Apollo 13 over the weekend - a fabulous movie, by the way, if you’ve never seen it - about how, in 1970, three astronauts returned safely to Earth following an explosion on their spacecraft, two day ... Show More
11m 48s