Are We Headed to Zimbabwe?

Have you ever taken a train that’s heading in the wrong direction? If you have, you know what unfolds. First comes the confusion, the strange feeling that something is wrong, even if you can’t quite put a finger on it. Then comes the gradual realization that uh-oh, you’ve made a dreadful mistake. You’ve wound upContinue reading “Are We Headed to Zimbabwe?”

The Strange US GDP Report

Last week, the US reported that growth reached 6.5 percent in the June quarter (seasonally adjusted, annual rate), following the 6.3 percent rate recorded in the previous quarter. These are exceptionally strong numbers. Sure, they follow a recession. But the economy doesn’t always roar back after a setback, the way it is doing now. WhenContinue reading “The Strange US GDP Report”