How much of the monetary gains from the Trump economic speedup have gone to the middle class? If you ask Democratic senators and presidential candidates Elizabeth Warren, Kamala Harris and Bernie Sanders, the answer to that question is ... almost none.
While running for president in 1960, John F. Kennedy campaigned against the moderate growth economy (2.5% annual GDP rise) in the last years of the Eisenhower administration. He appealed to Americans' highest aspirations by saying in his typical Boston drawl: "We can do bettah." JFK promised 4% and 5% rates of annual economic progress for the nation -- and he delivered.
A friend of mine's third grade daughter came home from school a few weeks ago with tears streaming down her cheeks. "My teacher says we only have 10 years before the oceans rise and we are underwater," she moaned. "Are we all going to die?"
The decline of American mining and production of critical minerals in recent decades is a self-inflicted wound that could imperil our economy and national security.
The recent threats by Beijing to cut off American access to critical mineral imports has many Americans wondering why our politicians have allowed the United States to become so overly dependent on China for these valued resources in the first place.
Is the left once again embracing Malthusian population control in order to save the planet?
One of the many idiocies of the "Green New Deal" and other such anti-fossil fuel crusades is that all of this arrives on the political scene at a time when the price of producing energy from fossil fuels is lower than at any time before in human history.
Last week, I gave a talk to high-wealth investors in San Francisco -- not exactly an audience of left-wing activists -- and people kept asking me the question of the day: "Will there be a recession?" My reply: I'd never say never, but I don't see a recession in 2020. And if we get a trade deal with China, the economy is going to soar.
Recently, two major railroad operators, CSX and Union Pacific, reported a significant drop in earnings, in part due to declining rail shipments. This was partially due to the impact of ongoing trade disputes. While we generally support a better trade relationship with China (hopefully with fewer tariffs and nontariff barriers), we need to see strong freight rail traffic if the economic expansion is going to roll on.
To keep the economy from a further growth slowdown, the Fed must inject more dollar liquidity into the global economy -- immediately.