John Tamny

According to Washington Post columnist Catherine Rampell, “The Chinese economy has hit a rough patch.” On their face, comments like these always rate a raised eyebrow: I can’t measure the economy of the street I live on, but Rampell feels comfortable commenting from New York City on the health of people in a vast country on the other side of the world. How does she know what she claims to know?

President Biden’s recent move to ban U.S. investment in “sensitive” Chinese companies will not work. As is, U.S. investment funds all sorts of Chinese innovations despite all manner of rules in China that dis-allow foreign investment. Capital moves faster than government, obviously. Assuming Biden could ban U.S. investment into China, what a shame. When it comes to innovative companies, they generally get to choose their investors.

The simple truth is that if the Fed were as powerful as the various religions want it to be, the U.S. economy would always be in decline. Yield-curve obsession is powerful on the score of nothingness.

Parkinson was spared becoming a 3rd generation miner by progress, which is what global trade embodies.