Kevin Hassett News
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The Dow Jones Industrial Average set a record this week, but it’s still far from the mark that economist Kevin Hassett and I forecast in our 1999 book, “Dow 36,000.”
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As the U.S. gross domestic product takes a hit from lower defense budgets, federal spending cuts viewed as unthinkable a few months ago -- $1.2 trillion falling heavily on the Pentagon -- are seen as likely starting March 1.
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If AIG was too important to fail, can’t I be, too?
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As the jobless recovery continues, President Barack Obama and his liberal supporters argue that the U.S. needs another stimulus or risks a double-dip recession. A look behind the numbers suggests that liberal policies will hand us a double dip whether we get a stimulus or not.
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The foreclosure crisis that seems on the brink of spinning out of control may be the decisive nudge that pushes the U.S. into a double-dip recession. Banks that have only just begun to recover from the worst financial crisis since the Great Depression are about to find themselves in straitjackets.
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Last week in Washington, beneath a flock of pigs flying south in a majestic V formation, the co- chairmen of President Barack Obama ’s deficit commission released a plan that actually could solve the nation’s pending fiscal crisis.
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The world’s economic policy makers have talked up a zero-tolerance attitude toward sovereign-debt defaults. For every troubled national borrower, there seem to be a dozen central bankers ready to hand out cash, always to avoid Armageddon.
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Last week, Standard & Poor’s lowered Japan’s bond rating to AA-, the fourth-highest level. By that standard, the U.S. got away with a slap on the wrist from Moody’s Investors Service, which warned merely that “the probability of assigning a negative outlook in the coming two years is rising.”
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China bashing is all the rage in Washington, as politicians of both parties blame the world’s fastest-growing major economy for high jobless rates in the U.S.
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I suppose you’re wondering why I gathered all you distinguished Americans here today.
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