It’s as close to a slam dunk conclusion as can be – at least according to economists, think tank hacks, and Mainstream Media journalists: The early 2018 U.S. tariffs on large household laundry machines have been a dismal failure. Or have they been? The levies belong in a category different from those of the main … Read more(What’s Left of) Our Economy: Were the US Washing Machine Tariffs Really Failures?
Contrary to what many trade mavens must think, Paul Krugman’s recent confession that he (and nearly all of his economics colleagues) have seriously misjudged the impact of international trade on America’s manufacturing workers isn’t his first. At least twice before (see here and here), this Nobel Prize-winning economist and New York Times columnist has admitted … Read more(What’s Left of) Our Economy: How Many Strikes Does Paul Krugman Get on Trade?
One my my funnest (indulge me) memories of college was driving round trip between central New Jersey and New York City’s Madison Square Garden four times one week in the spring of 1975 to see the Princeton men’s basketball team play in – and win! – the National Invitational Tournament (which was a reasonably big … Read moreIm-Politic: On Sports, Politics, and Boundaries
If you know more than a little something about contemporary American history, you’ve no doubt been struck (or you should be struck if you haven’t been already) by the close resemblance in one key respect between the firestorms around the two big foreign policy-related uproars of the day these days, and the big foreign policy … Read moreOur So-Called Foreign Policy: The Globalists’ Dangerous Tantrums over Syria and Ukraine
I’m pleased to announce that the podcast is now on-line of an interview I did Wednesday night on John Batchelor’s nationally syndicated radio show. The segment, which can be accessed here, dealt with a dimension of the U.S.-China trade wars that’s been surprisingly overlooked: Exactly how is domestic American manufacturing responding? And keep checking in … Read moreMaking News: Podcast Now On-Line of Batchelor Show Interview on U.S. Manufacturing and the Trade War
“…acting White House chief of staff Mick Mulvaney told reporters the U.S. aid was withheld at least in part because of a request to have Ukraine investigate unfounded allegations that foreign countries assisted Democrats in the 2016 election.” –Politico, October 17, 2019 “Ukrainian government officials tried to help Hillary Clinton and undermine Trump by publicly … Read moreGlad I Didn’t Say That! Politico Shoots Itself in the Foot on Foreign Meddling
The latest U.S. inflation-adjusted manufacturing output numbers (for September) are now out, and they leave more muddled than ever the matter of how much (if any) damage American industry has suffered from President Trump’s tariff-heavy trade policies. And it’s not just because of ongoing uncertainties about the effects of President Trump’s current and threatened China … Read more(What’s Left of) Our Economy: A Thoroughly Muddled Manufacturing Production Figure
This is the second working day since the United States and China reached what the Trump administration is calling a “Phase One” trade deal with Beijing last Friday, and the questions surrounding the agreement still far outweigh what’s known. That alone should tell you that towering obstacles continue blocking any confident assessment of where the … Read more(What’s Left of) Our Economy: Now What in the U.S.-China Trade War?
I’m pleased to announce that the video is now on-line of my appearance today on CNBC‘s “Power Lunch” program focusing on the latest developments on the U.S.-China trade front. Click here for a timely discussion of one of today’s biggest headline stories. In addition, here’s the link to an interview I did last week for … Read moreFollowing Up: CNBC Interview Video Now On-Line…& More!
I’m pleased to announce that I’m scheduled to return to CNBC this afternoon to comment on latest, fast-moving developments surrounding the U.S.-China trade talks and the “Phase One” deal announced last Friday. The segment is slated to begin at 2 PM EST and, as usual, if you can’t tune in, I’ll post a link to … Read moreMaking News: Back on CNBC this Afternoon, Piscopo & Breitbart Podcasts…& More!
The “Phase One” min-deal reached by the United States and China tamping down bilateral trade tensions for the moment, speaks volumes about the three major forces that are now driving President Trump’s China policy, and that will keep shaping it through the next U.S. election – though not always in consistent ways. They are: >the … Read more(What’s Left of) Our Economy: What the Mini-Deal Says About Trump’s China Policy
I’m pleased to report that the video is now on-line of my interview today on CNBC’s “Power Lunch” program on the fast-moving U.S.-China trade talks currently taking place in Washington, D.C. Click on this link to see a great discussion of the state of the negotiations – along with an examination of the key question … Read moreMaking News: CNBC China Trade Talks Video Now On-Line; Piscopo Show Appearance Tomorrow Morning
I’m pleased to announce that I’m scheduled to appear this afternoon on CNBC’s “Power Lunch” program in a segment focusing on the latest U.S.-China trade talks underway in Washington, D.C. The interview is slated for 2 PM EST and, as usual, I’ll post a link to the podcast as soon as one’s available. Speaking up … Read moreMaking News: CNBC Interview on China Trade Talks Set for this Afternoon, New Podcasts…& More!
I’m pleased to announce that I’m scheduled to be interviewed on two nationally syndicated radio programs today on the current, possibly crucial phase of the U.S.-China trade talks. I also suspect that both segments will at some point turn to the uproar over China’s efforts to censor a National Basketball Association executive for tweeting his … Read moreMaking News: Two China Trade War (& NBA?) National Radio Interviews Coming Up Today
Ever since Boeing ran into safety problems that early this year resulting in the widespread grounding of one of its most successful airliners, authoritative (as opposed to anecdotal) signs have been elusive that the aerospace giant’s woes have been contributing to the slowdown being experienced by domestic manufacturing. This matter matters because a sizable Boeing … Read more(What’s Left of) Our Economy: A Boeing Drag on US Manufacturing Unrelated to Trump’s Trade War
In recent years, the National Basketball Association (NBA) has worked hard to earn its reputation as the most socially conscious sports league in America and possibly the world – and certainly its owners and Commissioner Adam Silver have both permitted the players to speak out on various political and policy issues, and demonstrated a pretty … Read moreIm-Politic: The NBA’s Not Real Woke on Hong Kong
It’s lucky for President Trump that being stupid per se isn’t (yet?) grounds for impeachment, because if it was, his recent call for Beijing’s aid to investigate the Biden family’s possibly corrupt activities in China would surely qualify. In fact, it’s hard to think of a presidential action in recent memory that fails on so … Read moreIm-Politic: Why Trump’s Ukraine China Ask Was So (Needlessly) Stupid
This past week has been so crazy news-wise that I’d completely forgotten to post a link to a video of an interview I did for NewsmaxTV.com two Fridays ago. The subject: some recent economy-related developments in the current and intensifying presidential campaign! So click here for a great (and still timely!) discussion on the “Liquid … Read moreMaking News: Video of Presidential Campaign Economics Interview Now On-Line!
Today’s U.S. jobs report (for September) contained much better news for President Trump and his supporters in terms of the economy’s overall performance than it did in terms of his trade policies. American employment on net rose by a decent 136,000 sequentially last month, and the revisions (which boosted the July and August numbers by … Read more(What’s Left of) Our Economy: The Trade Wars’ Bite on Manufacturing Jobs Looks Deeper
Kurt Volker, who just resigned as special U.S. envoy to Ukraine, is testifying in closed session to Congress today, presumably to shed light on charges that President Trump improperly (and maybe impeach-ably) asked that country’s leader to investigate possible corruption by Democratic Presidential candidate and former Vice President Joe Biden and his son Hunter. As … Read moreIm-Politic: Why Former Ukraine Envoy Kurt Volker Really Matters
The economics and investment worlds have plunged into near-panic mode over a report yesterday on American domestic manufacturing whose headline number was the worst since recessionary 2009. The September results from the Institute for Supply Management (ISM) have been interpreted as a sign that a U.S. recession has just become much more likely, and an … Read more(What’s Left of) Our Economy: Is Trump’s Trade War Really Killing Manufacturing Exports?
As Americans continue debating the merits of remaining dependent on supplies of key products from China (including state-of-the-art 5G telecommunications technology), a great example of why self-sufficiency can be crucial – along with laying adequate groundwork – has just come from an economy much smaller than the United States’ and capable of standing on its … Read more(What’s Left of) Our Economy: A Vital Globalization Lesson from South Korea
Net change in U.S. immigrant population, 2017-18: -70 percent Change in U.S. real wages for all workers, 2017-18: +1.30 percent Best annual increase since: 2014 (1.82 percent) Improvement over 2016-17 wage change: 196.7 percent Change in U.S. real wages for blue-collar workers, 2017-18: 1.63 percent Best annual increase since: 2015 (2.23 percent) Improvement over 2016-2017 … Read moreThose Stubborn Facts: The Latest on Immigration and Wages
OK, it’s not a verifiably un-doctored recording (apparently, they’re never available) – even though nearly all the Democratic members of the House of Representatives and many of the party’s presidential candidates view it as more than enough to warrant President Trump’s impeachment. (Removal from office? We’ve heard much less on that related but separate matter.) … Read moreIm-Politic: Why the Impeachment Case Isn’t Even Remotely Serious Yet
On Sunday, I wrote about an Associated Press article dealing extensively with manufacturing that I said might not have been Fake News, but sure came close. Today, the Washington Post published an article about President Trump’s activities at the UN General Assembly meeting in New York City that unquestionably deserves that label. The theme of … Read moreIm-Politic: The Washington Post Goes All Fake News on Trump, Biden, and the UN
Like so many of us, I’ve followed the career of Alexandria Ocasio-Cortez with unusual interest. But lately it seems that I haven’t been reading or hearing as much about her as I had for most of her first months in Congress, when the first-term New York City House Member clearly established herself as one of … Read moreIm-Politic: Have We Hit Peak AOC?
The Associated Press (AP) is a ginormous global news organization, and its reach is especially widespread here in the United States (although I couldn’t find figures breaking out its American clientele specifically). So it’s a big deal when one of its highest profile writers spreads the kind of utter claptrap about domestic U.S. manufacturing that … Read more(What’s Left of) Our Economy: The AP’s Manufactured Nonsense About Manufacturing
Even if the Cato Institute’s Ted Galen Carpenter wasn’t one of my closest friends, I’d still be writing this post highlighting his op-ed piece earlier this week for the Washington Post. Because it absolutely decimates the claim that all that ails the North Atlantic Treaty Organization (NATO), America’s oldest national security alliance, is recklessly mindless … Read moreOur So-Called Foreign Policy: Why a Real America First European Security Policy is More Urgent than Ever
I’m pleased to announce that the podcast is now on-line of my interview Wednesday night on John Batchelor’s nationally syndicated radio show. So if you missed it this timely conversation (with co-host Gordon G. Chang, too) about the threat posed to Americans by China’s totalitarian social credit system, or would like to hear it again, … Read moreMaking News: Podcast Now On-Line of National Radio Interview on a New China Threat
Another trade war myth bites the dust! And its demise is especially big news, given that its killers are some of the leading myth-makers. Specifically, as reported by CNBC,com, top officials of a major lobbying campaign aimed at forcing President Trump to overturn his tariff-heavy trade policies, and in particular, to make nice with China, … Read more(What’s Left of) Our Economy: The Offshoring Lobby Admits Americans are Standing Tall in the China Trade War
I’m pleased to announce that I’m scheduled to return to John Batchelor’s nationally syndicated radio show tonight. Our likely topic: China’s totalitarian practice of “social rating” – and how it can turn American businesses into agents of China’s dictators. The segment is slated to begin at 9:15 PM EST and you can listen live on-line … Read moreMaking News: On National Radio Tonight on the Threat (to Americans) of China’s Social Ratings
Is U.S. domestic manufacturing emerging from its recent funk? This morning’s Federal Reserve industrial production figures (for August) certainly supply some compelling evidence. And some of the nation’s major metals-using industries – widely portrayed as major victims of Trump administration tariffs that have been in place since early 2018 on steel and aluminum – led … Read more(What’s Left of) Our Economy: Some Manufacturing Pushback Versus Tariff Gloom-Mongering
Since psychology and emotions can affect how much individuals and companies spend and invest, and since U.S. economic growth does show signs of slowing from a solid but less-than-torrid pace, surveys purporting to track levels of consumer and business confidence understandably have attracted much more attention than usual. One big possible problem, though: This era’s … Read more(What’s Left of) Our Economy: The Case for Confidence in the Consumer Confidence Surveys May be Weakening
I’m pleased to announce that the podcast is now on-line of my Tuesday night interview on Breitbart News Tonight on evidence that many of President Trump’s opponents have launched a politically inspired campaign to talk the U.S. economy into a recession. To listen, click here and scroll all the way down until you see the … Read moreMaking News: Breitbart Podcast of Recession Gloom-Mongering Interview Now On-Line…& More!
Given the on-again-off-again nature of President Trump’s tariff policies (which against China went partly off again yesterday in the form of an announced short delay in the imposition of $250 billion worth of levies originally set for October 1), I figured there was no sense in performing my now-standard analysis of this morning’s new monthly … Read moreIm-Politic: Has Trump’s Record on Real Wages Been Good Enough Politically?
With John Bolton now out as President Trump’s national security adviser, it’s a great time to review the Trump foreign policy record so far. My grade? Though disappointing in some important respects, it’s been pretty good. Moreover, Bolton’s departure signals that performance could improve significantly, at least from the kind of America First perspective on … Read moreOur So-Called Foreign Policy: Trump’s Record and the Bolton Effect
I’m pleased to announce that I’m scheduled to return to Breitbart News Tonight to talk about evidence that President Trump’s opponents are trying to talk the U.S. economy into recession. The segment is slated to begin at 9:40 PM EST, and if you’re not already a SiriusXM Patriot radio subscriber, you can get a free trial … Read moreMaking News: Talking Recession Gloom-Mongering on Breitbart Radio Tonight…& More!
Can a national economy be talked into recession? And is this a danger for the American economy today? As known by anyone with even basic knowledge about economics, because psychology (and especially optimism and pessimism) so crucial determines business and consumer decisions, the answer to the first question unmistakably is “Yes,” at least in theory. … Read more(What’s Left of) Our Economy: Why Media Recession Cheerleading May Be a Thing
It’s U.S. labor productivity data time – in other words, the point at which all Americans interested in their economy and its future should be examining the latest news about a major measure of economic efficiency that speaks volumes about the nation’s chances of boosting living standards on a healthy, sustainable, rather than bubble-ized and … Read more(What’s Left of) Our Economy: Economic and Political Productivity Puzzles
The latest U.S. government report on the nation’s employment picture (for August) produced unusually mixed jobs results. (See, e.g., this report.) Maybe that’s why analysts seem to have missed one of its more encouraging takeaways: Hourly wages in the manufacturing sector, which have remained weak throughout the current economic expansion and into the Trump era, … Read more(What’s Left of) Our Economy: The New Jobs Report’s Wage Details are Mixed, Too – Economically and Politically