Slow Growth: A Tale of Two Theories

Posted by Mark Pettinga

First quarter U.S. GDP numbers were recently released, and they weren’t pretty. Notwithstanding our oft-cited concerns that GDP doesn’t measure anything terribly useful,1 GDP growth was a paltry 0.2% and will likely be revised … Read More »


S&P 500 Hits a New High of 2122.73

Posted by Mark Pettinga

Undeterred by another round of soft economic data released last week, investors sent the Standard & Poor’s 500 index to an all-time high. This year’s new highs, however, have been modestly above previous records, unlike last year’s sharp moves.

Chalk that up to perverse circumstance. … Read More »


3.5% GDP Growth Is Still on Track

Posted by Mark Pettinga

The Bureau of Economic Analysis reported on Wednesday that real gross domestic product grew at an annual rate of just 0.2% in the first quarter. And as miniscule as that figure looks, in reality it’s even smaller, since the 0.2% is annualized; more accurately, growth … Read More »