As every economist knows, Stein’s Law says that trends which can’t continue don’t. Unfortunately, it doesn’t tell us anything about when or how they come to an end. Since our national debt is assumed by...
The past week has been full of economic events, such as: 1. The report of the Congressional Budget Office (CBO) on the budget outlook. 2. The president’s State of the Union address. 3. The defeat in the...