A persisting puzzle about the U.S. economy is how it can seem both strong and weak. On the one hand, it remains a citadel of innovation, producing new companies like Uber. On the other, the economy is expanding at a snail’s pace of 2 percent annually since 2010. How could both be true? Why isn’t innovation translating into faster growth? The answer -- or part of the answer -- is that American businesses are running on two separate tracks. Call them the “youthful” and “middle-aged” tracks.
When people my age look back on their college days, they often recall being “starving” students. But, back in a time when it was possible to complete a university education with some scholarships, a modest student loan and a part-time job, few of my peers were ever truly hungry.
Janet Yellen, the chair of the Federal Reserve, is caught between Donald Trump and a hard place. By most accounts, Trump is an “easy money” guy who would prefer to keep today’s low interest rates to boost job creation.
The International Monetary Fund estimates that Latin America and the Caribbean will grow 1 percent in 2017 and 1.9 percent in 2018, further deterioration of conditions in Venezuela.
Senator and former Republican White House candidate John McCain was diagnosed with a glioblastoma (brain tumor), his office reported Wednesday.
Senate Republicans have revised their health bill, in a desperate attempt to get it approved, and their new project has leaked to the media.
The release of the Iraqi city of Mosul and the death of the leader of the terrorist group, Abu Bakr al-Baghdadi, could mean the weakening of the new Caliphate and the possibility of restoring peace in the Middle East in the near future.
Do we have a worker shortage? Maybe.
Republican Karen Handel declared herself the winner in the special election in Georgia, in what many posed as an assessment bout of Donald Trump's approval.
The Saturday evening attack, in which three attackers in a van mowed down a number of pedestrians on London Bridge and then stabbed many more at nearby Borough Market before being gunned down by police, comes just four days before Britain's national election on Thursday.
This week, Vladmir Putin, President of Russia, gave an interview with a pool of international journalists, in which he said that the policy of sanctions towards Cuba only worked to punish the Cubans, and that Obama was on the right path.
Si bien, el aumento de la participación ciudadana en las elecciones primarias de Filadelfia este año es un avance, no merece aplausos.asi
Un terrorista suicida provocó anoche la muerte de 22 personas, entre ellas niños, al hacer explotar un artefacto de fabricación casera junto al estadio Manchester Arena, informó hoy la Policía de esa ciudad del norte de Inglaterra.
The Manchester police suspect terrorism after a deadly explosion at an arena in Manchester, where the American pop star Ariana Grande had been performing. Children are among the 22 dead, and at least 59 people were injured when an explosion ripped into the crowd made basically by teenager fans.
The same week that America’s federal government plunged deeper into a governance crisis from misconduct by President Trump and members of his professed Law-&-Order administration, many Philadelphians took a big step towards restoring the vitality of democracy with their participation in the primary election.
When they criticize laws against hate crimes, conservatives claim we shouldn’t create special classes of victims.
Well, forget all that. It turns out that they feel differently when they can get political mileage from exploiting the public’s fear of illegal immigrants. Then they’re all in.
Mexican Juan Pedro Franco believed to be the most obese man in the world, is preparing for an operation that will reduce his stomach size and hopes that this will enable him to enjoy his hobbies, something he could not do weighing 595 kilos.
As a result of the first round of French presidential elections, Emmanuel Macron (center) and Marine Le Pen (far right) are the French people's favorite candidates.
Everyone “knows” that Americans have soured on free trade and globalization, as President Trump keeps saying.
Toward the end of 1942, Winston Churchill, in announcing a rare victory over the German army, uttered one of his more memorable phrases: “This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” The same might be said today of the American economic recovery. Progress, though real, is incomplete.
You knew it all along: Economists can’t forecast the economy worth a hoot. And now we have a scholarly study that confirms it. Better yet, the corroboration comes from an impeccable source: the Federal Reserve.
The study compared predictions of important economic indicators -- unemployment, inflation, interest rates, gross domestic product -- with the actual outcomes. There were widespread errors. The study concluded that “considerable uncertainty surrounds all macroeconomic projections.”
We live in an age of disbelief. Many of the ideas and institutions that have underpinned Americans’ thinking since the early years after World War II are besieged. There is an intellectual and political vacuum into which rush new figures (Donald Trump) and different ideas (America First). These new ideas and leaders may be no better than the ones they displace -- they may, in fact, be worse -- but they have the virtue of being new.
Comes now Timothy Geithner, treasury secretary from 2009 to 2013, to tell you that much of what you “know” about Dodd-Frank -- Congress’ response to the 2008-09 financial crisis -- is wrong. It’s a timely review because the Trump administration is promising to overhaul the law. The title of Geithner’s essay, carried in the current issue of Foreign Affairs, is simple: “Are We Safe Yet?” The answer is not so simple.
You’ve heard the criticism. Too many American corporate managers are addicted to “short-termism.” They postpone investments and other costs, sacrificing future performance for present profitability. Either they’re pressured by “activist investors” or want to inflate the value of their stock options. If true, it could help explain the economy’s lackluster performance. Now, a new study asserts that it is true.
The study is intriguing -- but be skeptical; it has some glaring weaknesses.