I’m very grateful to Dave Hebert that he’s never gone wobbly on the genius of free trade. He’s right that we agree. Why my response to his? It’s an attempt to convince him not about free trade, but about currency, IP, and so-called “trade deficits.” Will I succeed? It recalls the line from the […]
A Free Trader Responds to a Free Trader About Free Trade Read More »
There are already flying taxis in China. There’s drone delivery of meals too. About the leaps taking place in China, some will say we need to catch up. Others will say that in addition to catching up, we need to keep advances hatched in China out of the U.S. They would be incorrect, twice.
If We Don’t Want the Chinese To ‘Lap’ Us, Let Them Sell To Us Read More »
The fraudulent number that is Gross Domestic Product (GDP) is a substantially shrunken number relative to the true size of the U.S. economy. See the “surge” in GDP reported yesterday for evidence. The U.S. economy is always growing precisely due to the people in the United States, and their prosperity is most certainly much
Soaring GDP Is More Evidence of What a Fraudulent Number It Is Read More »
The problem with economics is the economists. They arguably understand what powers economic growth the least. Consider “World Pays a Price for China’s Growth,” the latest piece by Wall Street Journal columnist Greg Ip. In it, the non-economist (that’s not a knock on him) in Ip wrote that “Even as the U.S. rolls out tariffs, its imports are
If the Chinese Are Producing, the World Is Growing Read More »
There’s foolish and then there’s macroeconomics. Macroeconomics insults foolish. Was “economics” always this dense? Acknowledging that there’s no empirical way to answer the previous question, it will simply be said that the answer is yes exactly because “macroeconomics” has been around a long time. And it’s a fraud. Economies are people, which means there’s
There’s No Such Thing As ‘Rebalancing’ Global Trade Read More »
When we look back on 2025 in 2030, rest assured that we’ll have forgotten or moved beyond what had us so scared in 2025. While what will happen next week is nearly impossible to predict, it’s much easier to predict that in March of 2030 the U.S. will be exponentially more advanced and richer
We Don’t Know What Will Happen, But We Do Know What Won’t Read More »
The Chinese artificial intelligence startup DeepSeek is now the most downloaded app in 140 markets worldwide, including Apple’s App Store and Alphabet’s Android Play Store. To say American consumers are enthused about China’s recent breakthrough in artificial intelligence is an understatement, given this vast popularity. This dovetails with U.S. consumers’ love of TikTok — an
Politicians Want a Trade War With China, Americans Don’t Read More »
