Note: As of the January 2026 Business Conditions Monthly (BCM) calculation, sufficient data have become available to resume publication of the three BCM diffusion indices. However, because the most recent…
Category:
Economy
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Given the bluster and nonstop chatter of today’s political class, President Calvin Coolidge, or “Silent Cal,” might be viewed as a quaint relic. His ability to pack a lot of…
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In late December, winter storms brought rain and snow that modestly improved California’s reservoirs and snowpack. Officials quickly cautioned, however, that this would not solve the water crisis. The message…
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Adam Smith’s An Inquiry into the Nature and Causes of the Wealth of Nations is a long book. But in its first twenty pages, Smith lays out a three-step path…
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President Trump’s conflicts with Chairman Powell and with Governor Cook have obscured real shortcomings at the Federal Reserve and brought little useful change. These conflicts tend to focus on whether…
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President Trump’s conflicts with Chairman Powell and with Governor Cook have obscured real shortcomings at the Federal Reserve and brought little useful change. These conflicts tend to focus on whether…
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Compare this argument from President Trump on Truth Social, in January 2026, to another (perhaps the same?) made by Pierre Joseph Proudhon in 1849. I protest against your credit at…
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At a recent Senate hearing on the fiscal outlook, legislators and budget experts said the quiet part out loud: the United States is running historically large deficits in non-crisis times,…
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My childhood (metaphorically speaking) ended in the early 2000s, when traditional, kid-focused, Saturday morning broadcast television was fading away. Being in my thirties at the time, it was probably overdue.…
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Freedom of speech is a natural right, not a privilege dispensed by governments when convenient. It precedes the state itself. Behind the vowels and consonants that leave our lips lie…