Economic growth cooled to a 2.6% annualized rate, much slower than the 5% rate reported for the third quarter. Why is this news bullish for the stock market?
We constantly hear about the need for tax reform but never really get it.
Gross Output (GO), a broadened measure of U.S. economic activity published by the Bureau of Economic Analysis (BEA), grew to nearly $31.3 trillion in the third quarter of 2014, a 5.2% jump in real terms (annualized).
Like a bad penny, one particular economic fallacy keeps coming back.
Thomas Piketty argues that the gap between rich and poor is getting so bad that it will destroy “democratic capitalism.” He recommends sharply higher progressive taxes on both income and wealth.
Joel Stern, professor of finance at Columbia, Carnegie-Mellon, the University of Cape Town and three other major universities, shocked our audience by…