Capital Commerce


August 2008


Temple of Gloom

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Jimmy P. at the DNC—I keep hearing a lot of this sort of pessimism, both in the speeches and among the delegates: "America is facing its greatest economic challenges since the Great Depression." Really. That's a pretty big stretch given that we've only had one quarter of negative economic growth in ...

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TAGS:
Democratic National Convention
economy

Shhh! Americans Getting Richer

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Jimmy P. at the DNC— A common economic critique from liberals is that people are poorer today than they were in 2000. I have heard that statistic repeatedly here in Denver. (Dems pick that number because it was the peak of bubble boom.) But new IRS numbers show that isn't the case. A few factoids:

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TAGS:
IRS
income

Why Inflation Is Headed Lower

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Government inflation numbers are backward-looking. This summer's big jump in inflation between May and July was the result of an oil spike that has already reversed. So, what if we assume energy prices had held firm instead of surging? Jim Hamilton over at Econbrowser does the math so I don't ...

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TAGS:
inflation
economy

The Return of the Misery Index

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The Wonk Room blog from the liberal Center for American Progress happily tosses out this little factoid:

By one measure—the "Misery Index" made famous by Jimmy Carter—the economy is in its worst shape since mid-1991. The Misery Index is simply the combination of the unemployment rate and the ...

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5 Cool Predictions About China

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These forecasts from mangabot, a new blog on Asia, are worth reading:

1. The dystopic Communist regime will continue.

2. A giant amount of wind power will up the nation's hip-and-cool factor.

3. Joe Chen will be the next Steve Jobs .

4. Beijing will go head-to-head with Dubai ...

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TAGS:
China

The Bush (Oil) Tax Cut of 2008

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Democrats are pretty eager to repeal (some) of the 2001 and 2003 Bush tax cuts. But what about the 2008 tax cut? By that, I mean the big drop in oil prices we are seeing right now. I think the president's lifting of the executive order banning offshore drilling was a key moment in reversing ...

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TAGS:
Bush, George W.
taxes
oil

This Will Surprise Most of You

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A revealing factoid and an insightful bit of analysis from market strategist Ed Yardeni:

With forward earnings around $100 currently, why isn't the S&P 500 at 1600 now? Investors clearly remain concerned about the credit crisis and the possibility of a longer and deeper recession. Why aren't they ...

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TAGS:
stock market

Obama and McCain’s Olympian China Error

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If you've been absorb-ing the ubiquitous media coverage of the Beijing Summer Olympics, you might be getting a bit China-ed out right about now. But if you're a presidential politics junkie, probably not so much. So far this campaign season, "Rising China" has been the panda in the corner, pretty ...

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TAGS:
Obama, Barack
McCain, John
Olympics
China
2008 presidential election
economy
global economy
Asia
foreign policy

The 2009 Economy

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Have a gander at this bit of economic analysis from Macroeconomic Advisers (bold is mine):

The economic outlook for the second half is weak, at best. We expect domestic final demand to shrink at nearly a 1% pace over the second half and GDP growth to be barely positive, on average, over that period.

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TAGS:
economy
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