Economists Are Running out of Excuses

Once again, the economy has not performed as well as the high priests of the economics profession had expected. “The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee expected,” the Federal Open Market Committee said today. “The slower pace of the recovery reflects in part factors that are […]

The Myth of the Double Dip

Two years after the economy officially started a “recovery,” all the signs are pointing in the wrong direction—the jobless rate actually increased to 9.1 percent, housing prices are falling, consumer spending has been slack overall as oil prices surge, and now the stock market has dropped, erasing billions in household wealth. We are beginning to […]