In the past I have written of the danger that uncertainty poses in economic markets. Today I want to concentrate on using a phrase who others more skilled than I have in the past: The certainty of uncertainty. By that I meant that uncertainty will undoubtedly lead to a bad outcome. I must credit Rudiger Dornbusch for my inspiration. His law, appropriately called Dornbusch’s Law, states: Crises take longer to arrive than you can possibly imagine, but when they do come, they happen faster than you can possibly imagine. This all very much applies to American today under Donald Trump. Let’s explore. Continue reading The Certainty Of Uncertainty
Tag Archives: economic policy
Labor Getting Trumped
Today is Labor Day. It is a very special day for pro-union progressives like me. I am retired (except for my writing which to date I have never accepted monetary compensation for) and know what it is like to work for a paycheck. What that paycheck represented to me was disposable income with which I financed my lifestyle. Two factors: earnings and taxes determined what my net pay was. One of President Trump’s big agenda items is what he calls tax reform. Let’s explore what that really means to Joe Lunchbucket. Continue reading Labor Getting Trumped