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Tag Archives: Economic Opportunity


3,453 Days And Counting: The Bull That Wouldn’t Die

By Investor’s Business Daily

Bull Market: Amid all the political noise in Washington, a milestone was passed Wednesday, one you may not have noticed. The bull market for stocks has now become the longest since World War II. Can it continue? That depends on federal policies.

We’re grateful to CNBC for actually counting the days: 3,453, starting on March 9, 2009. That’s a long time — 9.46 years to be exact.

Yes, it’s been a bull for the record books. Even so, we would note that the bull hasn’t been without tests to its longevity. And some might even deny it’s been a bull market all this time.

One common definition of a bear market is a decline of a major stock index by 20% or more from its previous all-time high, or 52-week high. Well, way back in 2011, the market was actually off more than 20% from its previous high, but on an intraday basis. So, technically, some think the bull ended. But it snapped back by the end of the day’s trading, so others say no.

But however you look at it, the fact is that the market has been on a long-term tear. The bull run began Continue reading


Surprise! Despite Media Trash Talk, Nation’s Mood Brightens

By Investors Business Daily

Change: A just-released IBD/TIPP Poll shows big gains in key sentiment indicators. Given the pervasive negativity in the media these days, you might doubt these positive polling numbers. If so, have you looked at the economy lately?

When it comes to President Trump and the national mood, something seems to have happened in recent weeks, as shown by our IBD/TIPP Poll of 900 people taken from July 26 to August 2. Keep in mind that anything over 50 is optimistic; under 50, pessimistic.

Start with our Presidential Leadership Index, which jumped 3.2% in August to 45.7, the highest level since President Trump’s first full month in office.

Equally important, the Direction of the Country Index, which gauges how Americans feel about our nation’s current course, surged 13% to 50.1 in August. That’s the highest level since 2005.

Continue reading


President Trump’s Economic Recovery Proves America’s Freedom Still Has A Chance

By Adam Mill • The Federalist

Recently, Jesse Kelly wrote a worthy article forecasting the United States’ decline and eventual suffocation in the quicksand of socialism. He correctly notes that as government gets bigger, freedom must get smaller.

Kelly clearly fears a socialist America will follow the failures of Greece, Venezuela, and every other country that has followed a welfare state model to its logical conclusion. While he is absolutely right that economic failure and socialism are inexorably related, he is not correct that the United States is on an unstoppable path to this oblivion.

Take cheer, Kelly: we have reason to be optimistic as a result of President Trump’s brief but dazzling experiment with cutting taxes and regulation. While government is growing, it’s not growing fast enough to crowd-out all freedom. One byproduct of the Trump boom is that economic growth is actually outpacing growth in government spending. The government’s share of gross domestic product has fallen to Continue reading


U.S. Economy Has Its Growth Mojo Back

By Stephen Moore • Investor’s Business Daily

T.S. Eliot famously wrote that “April is the cruelest month,” but when it comes to America’s fiscal picture, nothing could be further from the truth about this April. The latest government numbers confirm that last month was a blockbuster for growth, federal revenues, and deficit reduction.

One of the key principles of Trumponomics is that faster economic growth can help solve a multitude of other social and economic problems – from poverty, to inner-city decline, to lowering the national debt.

We’re not quite at a sustained elevated growth rate of 3% yet, but the latest economy snapshot tells us we are knocking on the door. The growth rate over the last four quarters came in at 2.9% — which Continue reading


IMF: Tax Reform Projected to Push GDP Growth Higher

By Ali Meyer • Washington Free Beacon

The Tax Cuts and Jobs Act, which was signed into law by President Donald Trump in December, is projected to push GDP growth higher than previously expected. Growth is forecast to rise to 2.7 percent in 2018, according to a report from the International Monetary Fund.

The changes from tax reform are expected to add to economic growth through 2020 so real GDP will be roughly 1.2 percent higher than it would be without tax reform.

The IMF previously projected that GDP would increase by 2.3 percent in 2018 and 1.9 percent in 2019. The group now projects GDP will increase by 2.7 percent in 2018 and by 2.5 percent in 2019.

“The growth forecast for the United States has been revised up given stronger than expected activity in 2017, higher projected external demand, and the expected macroeconomic impact of the tax reform, in particular the Continue reading


The Entrepreneurial Way to 4% Growth

Trump should set a goal: fix the business climate so a million Americans a year can start companies.

By Carl J Schramm • Wall Street Journal

This week more than 160 countries are celebrating Global Entrepreneurship Week. The Kauffman Foundation, which I once led, created this event eight years ago to encourage other nations to follow the American tradition of bottom-up economic success. Yet this example has been less powerful in recent years, as American entrepreneurship has waned. Fortunately, President-elect Donald Trump has plenty of options if he wants to resurrect America’s startup economy.

Consider the economic situation that the president-elect is inheriting. Despite the addition of 161,000 jobs in October, the labor-force participation rate fell to its second lowest level in nearly 40 years, according to the St. Louis Federal Reserve. More people have joined the ranks of the chronically unemployed, slipping into poverty at alarming rates as their skills decay and dependency on public assistance grows. Considering population growth, America needs at least 325,000 new jobs every month to stanch the growing numbers of discouraged workers, according to the Bureau of Labor Statistics. Continue reading


There is No Such Thing as Trickle-Down Economics

by Steven Horwitz • Foundation for Economic Education

Critics of liberalism and the market economy have made a long-standing habit of inventing terms we would never use to describe ourselves. The most common of these is “neo-liberal” or “neo-liberalism,” which appears to mean whatever the critics wish it to mean to describe ideas they don’t like. To the extent the terms have clear definitions, they certainly don’t align with the actual views of defenders of markets and liberal society.

Trickle Down

Economists have never used that term to describe their views. Another related term is “trickle-down economics.” People who argue for tax cuts, less government spending, and more freedom for people to produce and trade what they think is valuable are often accused of supporting something called “trickle-down economics.” It’s hard to pin down exactly what that term means, but it seems to be something like the following: “those free market folks believe that if you give tax cuts or subsidies to rich people, the wealth they acquire will (somehow) ‘trickle down’ to the poor.” Continue reading


The number of new businesses in the US is falling off a cliff

By Michael J. Coren     •     Quartz

We’re supposedly living in the age of startups when people can create new businesses, enrich themselves, and employ their fellow Americans. That narrative, like much economic optimism these days, is now mostly a tale for coastal cities, and a tenuous one at best.

Fewer new businesses were created in the last five years in the US than any period since at least 1980, according to a new analysis (pdf) by the Economic Innovation Group (EIG), a bipartisan advocacy group founded by the Silicon Valley entrepreneur Sean Parker and others. Businesses that did form are also far more concentrated than ever before: just 20 counties accounted for half of the country’s total new businesses. All of them were in large metro areas.


Ronald Reagan Lecture Series presents George Landrith of the Freedom Foundation


Millennials like socialism — until they get jobs

By Emily Ekins     •     Washington Post

Millennials are the only age group in America in which a majority views socialism favorably. A national Reason-Rupe survey found that 53 percent of Americans under 30 have a favorable view of socialism compared with less than a third of those over 30. Moreover, Gallup has found that an astounding 69 percent of millennials say they’d be willing to vote for a “socialist” candidate for president — among their parents’ generation, only a third would do so. Indeed, national polls and exit polls reveal about 70 to 80 percent of young Democrats are casting their ballots for presidential candidate Bernie Sanders, who calls himself a “democratic socialist.”

Yet millennials tend to reject the actual definition of socialism — government ownership of the means of production, or government running businesses. Only 32 percent of millennials favor “an economy managed by the government,” while, similar to older generations, 64 percent prefer a free-market economy. And as millennials age and begin to earn more, their socialistic ideals seem to slip away. Continue reading


Free Markets Are Moral and Superior


America’s Economic Freedom Has Rapidly Declined Under Obama

America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts.

by Anthony B. Kim     •     Daily Signal

obama_frownMillions of people around the world are emerging from poverty thanks to rising economic freedom. But by sharp contrast, America’s economic freedom has been on a declining path over the past decade.

According to the 2016 Index of Economic Freedom, an annual publication by The Heritage Foundation, America’s economic freedom has tumbled. With losses of economic freedom in eight of the past nine years, the U.S. has tied its worst score ever, wiping out a decade of progress.

The U.S. has fallen from the 6th freest economy in the world, when President Barack Obama took office, to 11th place in 2016. America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts. Continue reading


Yellen’s Job Puzzle: Why Are 20-Somethings Retiring?

Americans are increasingly foregoing paychecks due to disability, school or retirement

by Kasia Klimasinska

How come more people are retiring in their early 20s? Why are middle-age men becoming stay-at-home dads? What’s keeping women out of the workforce other than illness, kids or school?

Those are some of the questions raised in a new Bureau of Labor Statistics report that shows changes over the past decade in why people stay out of the labor force. Finding answers is key for the Federal Reserve as it maps the contours of a job market that’s becoming harder to predict with the aging of the baby boomers and shifting household priorities.

Here’s what the bureau found, broadly: Thirty-five percent of the U.S. population wasn’t in the labor force in 2014, up from 31.3 percent a decade earlier. (You’re considered out of the workforce if you don’t have a job and aren’t looking for one. That’s distinct from the official unemployment rate, which tracks those out of work who are actively job hunting.)

Drilling down into the numbers reveals more about the shifts in the reasons some people forego a paycheck. In all age groups, for instance, more people cited retirement as the reason for being out of the labor force, and it wasn’t just older people. Continue reading


Do average folks get fair shot anymore?

We used to make sure all Americans could lead a pretty good life

by Jon Margolis     •     Pittsburgh Post Gazette

One day last winter, Tom Ashbrook and his guests on his “On Point” public radio call-in program were talking about jobs and wages when a caller from Omaha named Valerie asked a blunt but valuable question.

Half the people, Valerie said, have an IQ of less than 100. “What do we do with all the ‘dumb’ people?” she wondered.

That sounds heartless, but Valerie didn’t seem to be scorning anyone as much as sympathizing with the increasingly bleak prospects some people are facing.

Valerie’s was not an original insight. Years earlier, the late columnist Murray Kempton noted that ours was a “society which, more lavishly than any in history, has managed the care and feeding of incompetent white people.” Continue reading


U.S. drops to 16th on ‘economic freedom’ list, behind Canada, Chile

By PAUL BEDARD     •     Washington Examiner

The United States, ranked second in worldwide economic freedom as recently as 2000, has plummeted to 16th, according to a new report of world economies.

The Fraser Institute’s annual report, Economic Freedom of the World, showed that the country’s drop started in 2010, the second year of the Obama administration.

The world-recognized report showed that the U.S. fell in several areas, including legal and property rights and regulation. Continue reading