President Trump’s proposed budget justifies its potential $1.5 trillion increase in the Federal deficit over ten years by claiming it will increase the anemic U.S. growth rate (thereby paying for itself). There can after the third quarter figures released Friday be no question that the U.S. economic growth rate has increased under Trump, with his […]

“Good fences make good neighbors” wrote Robert Frost in 1914. Those who have lived in both British and modern American suburbs can agree. High fences are not ideal; you can’t talk to people across them. But nor are a complete lack of fences, which allows gangs of neighborhood kids to race across your garden every […]

We have seen today’s economics in action before. Not in the 1720 South Sea Bubble – that was a simple stock market frenzy, similar to that of 1999, with a debt conversion scheme buried in it, but no excessive leverage. However, the almost exactly contemporary Mississippi Company/ Banque Royale scheme, devised in Paris by the […]

Britain intends to ban the purchase of internal combustion and diesel engine cars in 2040, hoping to make everyone switch to electric.cars. California, China and France all have similar schemes in place. These government decisions naturally provide yet another implicit subsidy to Tesla Motors (Nasdaq:TSLA) whose first quarter’s production of its latest “mass market” model […]