Now we know why the stock market took off in 2017. Today, the federal government released a HUGE number for fourth-quarter 2017 gross output (GO), which I regard as the top line in national income accounting to measure spending at all stages of production. The latest GO data show that the U.S. economy is booming, […]
“Bliss was it in that dawn to be alive, But to be young was very heaven!” — William Wordsworth I’ve always believed that dates are important. It turns out that I celebrated my 40th birthday on the day of the stock market crash, October 19, 1987, six weeks after I forewarned my Forecasts & Strategies subscribers […]
I presented two papers on Austrian economics at the annual Association of Private Enterprise Education (APEE) last week. One was called “Squaring the Mises Circle: How to Integrate Austrian Economics in the Classroom and Mainstream Textbooks.” The other was entitled, “Measuring Hayek’s Triangle: Gross Output as the Top Line in National Income Accounting and a Leading Indicator.” In […]
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