Despite high domestic economic growth and solid global recovery, the Chinese market is down on the year. At the close of this article, the Shanghai CSI 300 is down 5% vs the S&P 500’s +18%, and in the past five years, it has risen 51%, a decent but modest figure compared to the S&P 500’s +103%.Continue reading China Crackdown is About Political Control
This paper was published in the Journal of Economics & Management ResearchContinue reading Paper: Public Stimulus Plans Rarely Work: The Evidence Since the Early 90’s
The United States economy recovered at a 6.5% annualized rate in the second quarter of 2021, and gross domestic product (GDP) is now above the pre-pandemic level. This should be viewed as good news until we put it in the context of the largest fiscal and monetary stimulus in recent history.
With the Federal Reserve purchasing $40 billion of mortgage-backed securities (MBS) and $80 billion in Treasuries every month, and the deficit expected to run above $2 trillion, one thing is clear: The diminishing effect of the stimulus is not just staggering, the increasingly short impact of these programs is alarming.Continue reading US: Disappointing Growth Shows Stimulus Diminishing Returns
Cuba is a dictatorship that uses terror and propaganda to repress its people. It locks citizens, strips them of the most basic human rights, silences them, and confronts families using extortion and threats. The regime’s constant practices of illegal detention, the personal ruin of political dissidents, and limitation of fundamental rights have nothing to do with any blockade or embargo but everything to do with the totalitarian communist dictatorship.
All the propaganda that whitewashes the Cuban dictatorship is based on two lies: the inexistent “blockade” and the allegedly excellent “public health”.Continue reading Cuba. The Dictatorship And The “Blockade” Lie