Connecting the Dots

By most measures, the US economy is performing okay. New data tomorrow will likely show real GDP growth still near 3.5%. Unemployment is below 4%. Inflation is up a bit but still historically low.

The US-China trade war dominates the economic news, but in the long run, tariffs may be a minor detail.

Today’s election, divisive though it is, can’t change one thing: We Americans love our sweets. This is bipartisan.

If the news media’s White House sources are correct, President Trump’s trade war with China may soon intensify.

I wrote last week about the huge amount of money Americans spend on healthcare. Many people simply can’t afford to get the care they need.

Being sick is no fun, whether you’re a patient or the economy. Illness disrupts people’s lives and, economically speaking, diverts scarce resources from more productive uses.

To hear some people talk, the North American Free Trade Agreement is practically dead. Soon a newly negotiated revision will take its place.

Free trade is amazingly popular for something that doesn’t actually exist. Even Americans who can’t define free trade tell pollsters they love it.

Whether you see it or not, a machine is coming for your job right now. Yes, yours.

The US economy is at “full employment,” says the official 3.9% unemployment rate. Every educated person who wants to work has at least one job. Some of us have several.

Patrick Watson is working on a special project this week. The following is one of his most popular columns, originally published March 21, 2017.

Suppose we asked 100,000 random people to flip a coin until it landed on tails. 50,000 would get tails on the first flip.  On the next flip, 25,000 would get tails, then 12,500, and so on.