Second-Quarter U.S. Earnings Come In Strong 93% of S&P 500 companies have reported second-quarter earnings; the remainder will continue into early September. As of this writing, bottom-up earnings for the S&P stand at $32.63, representing a 5.9% quarter-over-quarter increase and a 10.6% year-over-year increase. In short, earnings are strong — Read more…
From time to time, coverage of China rises to a crescendo in the popular media. China coverage reflects some of the same schizophrenia that afflicts much of the media’s output. At many points in the past several years, accord-ing to the media, China has been a tot-tering giant whose economy Read more…
Is China Doomed? Don’t Hold Your Breath Bitcoin’s from time to time, coverage of China rises to a crescendo in the popular media. China coverage reflects some of the same schizophrenia that afflicts much of the media’s output. At many points in the past several years, according to the media, Read more…
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The Bitcoin Fork Bitcoin’s wild gyrations have this year become even wilder, driven largely by an ongoing “civil war” within the community of coders and miners who make up the cryptocurrency’s ecosystem. Source: Bloomberg So what’s the nature of this civil war, what are the stakes, and what might Read more…
Sometimes, academic economists are worth paying attention to. A recent paper published by the Hoover Insti-tution provided one of the best sum-maries we have read of the current state of the U.S. economy, its recent history, its troubles and the reasons behind them, its future prospects, and the policy changes Read more…
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