I think it was a big mistake, this Chinese escalation, because they’re playing with a pair of twos. What do we lose by the Chinese raising tariffs on us? We export one-fifth to them of what they export to us, so that is a losing hand for them. ~Commerce Secretary Scott Bessent If nothing else, … Read more
Former Daily Show host Trevor Noah often reminded viewers, “Two things can be true at the same time.” One of his most famous examples concerned the dichotomous responses to George Lloyd’s death in May 2020 at the hands of Minneapolis policeman Derek Chauvin. As a Black man who grew up in South Africa during apartheid, Noah … Read more
In his platform for reelection in 2024, President Donald Trump promised to “build the Greatest Economy in History.” But in his first 60 days as president, the stock markets have dropped like a rock: The S&P 500 is down 7%, the Dow Jones has dropped 6%, and the Nasdaq has plummeted 10%. ~Fortune Magazine If you are one … Read more
Boston Celtics sold for $6.1 billion to group led by private equity executive Bill Chisholm, a record for a U.S. sports team. ~CNBC.COM After finishing with a league-worst 3-14 record last season, the Browns have increased the prices of their season ticket packages by an average of about seven percent. ~Crain’s Cleveland Business There’s something quite … Read more
You can’t have everything. Where would you put it? ~Comedian Steven Wright The new economy still plays by the old economy rules. ~Nobel Laureate Economist Paul Romer Wright was half-right, half wrong. Case in point? At the height of post-COVID inflation, every economist west of the Atlantic coastline predicted the Biden administration faced an inevitable … Read more