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Motor Vehicle Production Boosts Manufacturing Output in October
“Industrial-sector output fell in October though motor vehicle production rose. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
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Retail Spending Was Strong in October
“Retail spending was strong in October, but the recent inflation-adjusted trend remains weak. Threats to the economy remain significant, and risks remain elevated. Caution is warranted.” ~ Robert Hughes
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Progressive Politics Prevail Over Economic Freedom
“Although some elections remain to be called, the overall picture is clear. American voters did not clearly repudiate the illiberal, progressive collectivist policies adopted at the state and national levels since March 2020.” ~ Robert E. Wright
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Beware the Incentives of “Forgiving” Student Loan Debt
“The stark reality is that ‘forgiving student debt’ really means forcing people who didn’t go to college to pay for those who did, and forcing people who scrimped and saved for college to pay for those who didn’t. ” ~ Antony Davies & James R. Harrigan
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Das Karl Marx Problem
“How do we reconcile the decisive and early rejection of Marx’s economic theories after the Marginal Revolution with the high acclaim that those same theories enjoy among intellectuals today, albeit almost entirely outside of the economics profession?” ~ Phillip W. Magness & Michael Makovi
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