Brian Wesbury

Brian Wesbury is chief economist for First Trust Portfolios, L.P.

Who Do You Really Believe?

 

What a weird world we live in. The leading business pundits (in print, television, and the blogosphere) have convinced themselves, along with many investors, that professional doomsayers, Meredith Whitney and Nouriel Roubini, know more about banking than the CEOs of Goldman Sachs, Bank of America, Citigroup, and JP Morgan — Lloyd Blankfein, Brian Moynihan, Vikram […]

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The New Normal

 

On April 14, 2009, in a speech at Georgetown University, President Obama made reference to the Bible: “There is a parable at the end of the Sermon on the Mount that tells the story of two men. The first built his house on a pile of sand, and it was destroyed as soon as the […]

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The Conservatives’ Big Mistake

 

Many conservatives rightly worry about the economic impact of the liberal policy agenda emanating from Washington, D.C. They warn of a dollar collapse, tout gold as the investment of choice, and forecast that the stock market will not go higher. Many agree that things have gotten better in recent months, but boldly predict a double-dip […]

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Obama’s Rock Is Not Capitalism

 

In mid-April, at Georgetown University, President Barack Obama said he wanted to “rebuild” our (economic) house upon a biblical rock. The president used Jesus’s Sermon on the Mount as a centerpiece of his speech, even though his staff wanted all the religious symbols behind the podium covered up. Obama argued that the current downturn “was […]

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Demand and Supply

 

There are two types of economists—make that two types of people—in the world: demand-siders and supply-siders. What’s interesting about the two is that they think in vastly different ways about life and human interaction. This is not a bumper-sticker difference in ideology. Supply-siders do not walk around saying, “Cut taxes and watch prosperity trickle down.” […]

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Unemployment and Stimulus

 

The strangest thing happened on Friday. It was reported that the U.S. economy lost 600,000 jobs in January and the unemployment rate jumped to 7.6%, but the stock market rallied anyway. Partly, this was because the stock market is a forward-looking indicator and employment is a backward-looking indicator. If the economy is near a turning […]

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Rules Have Consequences

 

This is the third installment of “Providing Relief from the Crisis.” Read editor-in-chief R. Emmett Tyrrell, Jr.’s introduction here. The government has pulled out all the stops, and is injecting trillions of dollars into the economy through just about every avenue that anyone can dream up. What’s so frustrating is that no one in control […]

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Mark to Market Means Mayhem

 

Following the announcement by the National Bureau of Economic Research that a recession in the U.S. began last September, both Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke gave speeches. Mr. Paulson said, “We are actively engaged in developing additional programs to strengthen our financial system so that lending flows into our economy.” Chairman […]

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Irrational Pessimism

 

Since 9/11, a pall of pessimism has covered the U.S. Polls show that between 60 and 85 percent of Americans have believed that the U.S. is in a recession or would go into one the following year. But from September 2001 through August 2008, those polls were wrong. Nonetheless, the failure of Lehman Brothers, with […]

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Abused and Depressed

 

This review appears in the June 2007 issue of The American Spectator. Click here to subscribe.

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