Mark Skousen, Ph. D., is the editor of the monthly investment newsletter, Forecasts & Strategies, as well as three weekly trading services, Skousen High-Income Alert, Hedge Fund Trader and Fast Money Alert. He also is a professional economist, investment expert, university professor, and author of more than 25 books. He earned his Ph. D. in monetary economics at George Washington University in 1977. He currently holds the Benjamin Franklin Chair of Management at Grantham University. He has taught economics and finance at Columbia Business School, Columbia University, Barnard College, Mercy College, Rollins College and Chapman University. He also has been a consultant to IBM, Hutchinson Technology and other Fortune 500 companies.
The Los Angeles City Council demonstrated its ignorance of Economics 101 when the panel voted last week 12-1 to raise the minimum wage to $15 an hour by 2020 for millions of workers in the countrys second-largest city.
Buffett told his adoring audience of more than 30,000 in Omaha that he was bullish on America.
The Nasdaq last week finally hit an all-time high, surpassing the 5,000 level achieved 15 years ago in March 2000. It took much longer for the Nasdaq to hit record highs than the Dow or the S&P 500 due to the dot-com frenzy in 2000 that sent the technology-heavy Nasdaq soaring.
Im not a great golfer, just more of a hacker and lucky to keep my score under 100 in a round of golf. But I enjoy watching the sport from time to time. I used to sit in the golf seats at the Orlando Magic games in the 1990s, and I met Tiger Woods once.
I had the misfortune of spending time in Dallas this past weekend, which meant flying in and out of the infamous Dallas/Fort Worth International Airport. Can you imagine an airport bigger than the size of Manhattan? Yes, its true 27 acres.
Walmart and McDonalds recently have raised wages to $9 an hour or more, substantially higher than the federal minimum wage of $7.25 an hour.
I have been living in Southern California for the past four months and have witnessed firsthand the results of one of the worst droughts in history. With little rain, California is dependent on reservoirs and out-of-state sources to provide the water needs of California consumers, business and agriculture.
When I was young, I thought that money was the most important thing in life; now that I am old, I know it is. Oscar Wilde
We are honored that John Mackey, our co-ambassador to FreedomFest (along with Steve Forbes), has been identified in the latest Fortune magazine as one of the 50 Greatest Leaders in the World.
I spent time last weekend with Steve Moore, the Heritage Foundations chief economist and a writer for The Wall Street Journal. Steve told me the Dream Debate of the Century between Paul Krugman and him, scheduled at FreedomFest, July 8-11, has generated a huge amount of buzz. Everywhere I speak, thats all they ask about, Moore said. Krugman is the #1 New York Times columnist and an advocate of big government.
What amazed me about the latest Billionaire issue of Forbes magazine was not the stories about the billionaires, but about Forbes itself.
Some economists worry that if the Fed raises rates too soon or the Republican-run Congress cuts government spending too much, we will have a 1937-style recession.
On Wednesday, March 18, Barack Obama was speaking at a town-hall event in Cleveland, Ohio, when he openly endorsed mandatory voting laws.
The Economist recently suggested that Americas out-of-control spending on healthcare 17% of gross domestic product (GDP), higher than any other nation is about to slow down.
Thomas Stanley dispelled the notion that the rich are bad people, that they flaunt their wealth, engage in white-collar crime, divorce then marry trophy wives and dont pay their fair share in taxes. In fact, most millionaires are model citizens.
Of course, this so-called paradox of thrift is nonsense and might only apply during periods of Great Depression when savings were stashed away as cash under a mattress or stayed idle in a bank account.
its a misnomer to call it the Internal Revenue Service. Its not internal the IRS arm reaches out beyond our borders. Revenue is just a nice word for taxation, or even theft. And certainly the IRS is no service to anyone except bureaucrats and what Ayn Rand called looters
One of the consequences of Keynesian economics is the gradual decline in capital investment, especially in infrastructure, in the United States.
If I asked customers what they wanted, they would have said, a faster horse. Henry Ford
I see that New York Mayor Bill de Blasio just gave his State of the City address. But like his predecessor, Michael Bloomberg, de Blasio has decided to do nothing about the worst problem facing every New Yorker its crumbling infrastructure.