By Robert Romano If electricity consumption is supposed to be a reliable proxy for economic growth, the only conclusion one can come to is that the U.S. economy has not grown in any meaningful sense since 2007. That year, the U.S. consumed about 3.89 trillion kilowatt hours […]

By Robert Romano Last week, global equity markets were tanking in the midst of a major correction, largely in response to what was happening in China where stock markets are down nearly 40 percent since they peaked in June. Then, suddenly, it stopped. U.S. markets rebounded, and soon it appeared the panic had abated. What changed? Chinese government intervention. In […]

By Robert Romano “I expect the normalization of monetary policy — that is, interest rates — to begin sometime this year. I expect normalization to proceed gradually, the implication being an environment of rather low rates for quite some time.” That was Dennis P. Lockhart, president of […]

By Rick Manning What the heck is going on in the economy? The stock market plummets, rebounds and drops again by the time this publishes. Gasoline prices are flat even as the price of oil drops precipitously below the $40 a barrel level, down a full $55 a barrel since one year ago. The […]

By Robert Romano Beijing has launched a preemptive strike on the West and on other emerging economies, devaluing its currency by about 2 percent in a move that now threatens to disrupt the balance of trade worldwide. This could be the beginning of China’s own brand of quantitative easing, and it comes after the People’s Bank of China had briefly allowed the yuan to appreciate . It […]

By Robert Romano On July 9, former Florida Governor and Republican presidential candidate Jeb Bush proclaimed that if Americans wanted higher incomes and to get back to 4-percent-a-year economic growth, they need to work longer hours. “[P]eople need to work longer hours and through their productivity gain […]

By Robert Romano Oil consumption in advanced economies in 2014 was at its lowest level since 1995, data from the U.S. Energy Information Administration shows . Use of petroleum in Organization for Economic Co-operation and Development (OECD) nations, which includes the U.S., Canada, Mexico, Europe, Japan, and South Korea, peaked in 2006 at 50.1 million […]

By Robert Romano Economic growth in the second quarter has come in at an inflation-adjusted 2.3 percent on an annualized basis, the Bureau of Economic Analysis reported on July 30 . Combined with the first quarter’s lousy 0.6 percent growth, the outlook for 2015 as a whole appears quite weak. Just to reach 3 percent growth […]

By Rick Manning Question: When is an American guilty until proven innocent? Answer: When law enforcement confiscates property that is allegedly involved in or acquired through illegal means without benefit of ever having convicted the owner of a crime. The fruits of this process known as civil […]

By Robert Romano Unless you have been living under a rock, you have probably noticed that Donald Trump is running for president as a Republican on an aggressive platform against illegal immigration. After his announcement — in which he said Mexico was sending criminals, rapists, and drug dealers to […]