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Thoughts from the Frontline Archive, February 2023

Deficits Forever
  • February 24, 2023

Deficits Forever

“Diamonds are forever,” according to the jewelry industry. That may be a slight exaggeration, yet diamonds will certainly outlive you and whomever you give them to.

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Adjustments Matter
  • February 17, 2023

Adjustments Matter

Federal Reserve officials like to call their decisions “data dependent.” Business leaders say it a little differently, often “data driven.” The point, in both cases, is something like: “We consider relevant data when making important decisions.”

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Assumptions Have Consequences
  • February 10, 2023

Assumptions Have Consequences

Remember National Lampoon’s Vacation? It was a 1983 comedy film in which suburban dad Clark Griswold (Chevy Chase) takes his family on a cross-country road trip to the fabled Walley World amusement park.

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A Muddle-Through Market, for Now
  • February 3, 2023

A Muddle-Through Market, for Now

These weekly letters, of which I’ve now written well over 1,000 (plus 7 books and multiple papers and articles), are generally about two broad topics: the economy and the financial markets. While related, these aren’t the same. Good news for one can be (and often is) bad news for the other.

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