It feels like we are living in the Land of Oz and the Fed is the “all-powerful” wizard in control. The true (and underappreciated) wizards of growth, entrepreneurs, continue to drive us forward.
Tag Archives: Economic Growth
One word that could describe Donald Trump’s unexpected ascendancy to the presidency is – “revolt.” Revolt against the “establishment.” Revolt against the “status quo”. Whether you agree with these developments or not, the U.S. hasn’t seen economic policy changes like this in a long time. The forces that support markets and entrepreneurship over government control are reasserting themselves.
Clearing a Path for Tax Reform. Washington D.C. used to complain that Ronald Reagan employed a strategy of “starving the beast” – cutting taxes so that new spending was tough to legislate. Now, D.C. seems to employ the strategy of “gorging the beast” – spending so much that tax cuts are hard to pass.
Third Quarter Real GDP…3.8%! The Atlanta Fed’s “GDP Now” model, which tracks and estimates real GDP growth, says the economy is expanding at a 3.8% annual rate in Q3. If correct, that would be the fastest pace for any quarter since 2014.