Several years ago at a speech in New York, I warned that “a future President Clinton or McCain would face a daunting budget challenge from population aging.” My political forecast was off, but my economic and demographic forecast is unchanged.
Recent posts in the ‘economy’ Category
In recent weeks, stocks have sold off from their recent highs. It appears that the enthusiasm that drove equity markets higher since last March may have run its course.
I am a pack rat.
A long habit of cutting articles from newspapers and magazines has left me with several boxes of clippings, only some of which have been sorted into files. On a clean-up crusade, I’ve spent more than a few hours going through the pile, looking to pluck only a few particularly interesting needles from the haystack.
It’s still early in the new year, and there’s lots to worry about in the investment domain and in the broader world. But one item tops my “worry list” for 2010: interest rates. And it’s hard to decide which is the greater worry—the status quo, or a change in it.
Paul A. Samuelson, who died December 13 at age 94, was rightly remembered as a brilliant educator, as author of the best-selling economics textbook ever, and as the second recipient of the Nobel Prize in Economic Sciences. Professor Samuelson, the Nobel committee wrote, “has done more than any other contemporary economist to raise the level of scientific analysis in economic theory.”
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