05.27.2016 in Economy, Featured by NetRight Daily 4

Dear U.S.: Grow, or die

By Robert Romano “[W]e are not going to get back to 3 percent [growth] with anything we know how to do now.” That was former Congressional Budget Office director Douglas Elmendorf, ominously warning that the 15-year slowdown of the nation’s Gross Domestic Product (GDP) — wherein the economy has not grown above an inflation-adjusted 4 percent since 2000 and not […]

05.25.2016 in Economy, Featured by NetRight Daily 0

Global trade down about 9 percent since 2014

By Robert Romano Global trade is collapsing. In March, the U.S. trade deficit took a big hit, dropping 13.8 percent amid an $8 billion contraction in imports and a $2 billion shrinking of exports, according to data compiled by the U.S. Census Bureau. That’s usually not a good sign, U.S. Commerce Department data shows. Narrowing trade gaps and drops in […]

Cartoon: 2 percent economic growth stunk in 1992 and it stinks today

By A.F. Branco Click here for a higher resolution version.

05.03.2016 in Economy, Featured by NetRight Daily 6

Why no economic growth will kill the U.S.

By Robert Romano First quarter Gross Domestic Product (GDP) is in, and well, the U.S. economy still stinks, growing at a paltry, inflation-adjusted rate of just 0.5 percent annualized. Unsurprisingly, the lack of growth falls well below the already dreary Federal Reserve expectations for 2016, which is projected in December 2.4 percent for the year. Which still stinks. Even as […]

04.22.2016 in Economy, Featured by NetRight Daily 2

Would China simply agree to end currency manipulation?

By Robert Romano Lewis Lehrman and John Mueller had a very interesting oped on exporters that use currency devaluation to boost exports, “Monetary reform or trade war,” and how Congress might deal with it in the future — without resorting to tariffs. In it, Lehrman and Mueller call for G-20 economies including China to reach an international monetary accord on […]

04.19.2016 in Economy, Featured by NetRight Daily 7

OPEC can’t agree on production cut thanks to Iran nuclear deal

By Robert Romano The Organization of the Petroleum Exporting Countries (OPEC) still cannot come to terms with cutting oil production at its latest meeting Doha, Qatar over the weekend. This, despite months-long low demand for crude oil amid a weakening global economy that has led to a dramatic correction in oil prices — dropping more than 62 percent from its […]

04.15.2016 in Economy, Featured by NetRight Daily 4

Brexit surges to 45 percent support in UK, international banks threaten more financial crisis

By Robert Romano Voters in the UK may be ready to leave the European Union (EU), a new poll conducted by ICM from April 8 through April 10 finds, with 45 percent favoring what has been dubbed a “Brexit.” So, naturally, days later the Bank of England has issued a fresh warning that such a move by Britain would threaten […]

04.13.2016 in Economy, Featured by NetRight Daily 1

Is China about to devalue the yuan—again?

By Robert Romano In the 2000s, a common complaint against China was its weak peg against the dollar and its accumulation of foreign exchange reserves including dollar-denominated assets, which devalued the yuan against the dollar, cheapening the prices of its exports to the U.S. while increasing the prices of imports to China. So in 2010, Beijing started to let the […]

04.12.2016 in Economy, Featured by NetRight Daily 15

$8.7 trillion of economic growth lost to trade deficits since 2000

By Robert Romano “We do not get to add 16 years of deficits and then add that to one year of Gross Domestic Product (GDP), which is what is being done there. If we close the trade deficit then ceteris paribus … we might be able to add one year’s trade deficit back into GDP. That $500 billion, making current […]

04.08.2016 in Economy, Featured by NetRight Daily 2

Art Laffer and Paul Krugman agree, Chinese currency manipulation boosted exports, hurt U.S.

By Robert Romano A piece on currency manipulation by this author, “China and the world’s trade war against the U.S. — and why we’re losing” apparently warranted a response from the popular economics blog, Cafe Hayek, “An Open Letter to Robert Romano,” by George Mason University Economics Professor Donald Boudreaux. It is quite an honor, actually. Professor Boudreaux is world-renowned […]

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