Once again the free market is working its magic — this time in the automotive field, with driverless cars and leased cars. Its "invisible hand" is making life simpler, easier and cheaper.
The Atlanta branch of the Federal Reserve System's GDPNow has a record of embarrassing mainstream economists who continue to view the economy through rose-colored glasses.
Further evidence of the federal government’s vast overreach can be found in a report out of the Competitive Enterprise Institute (CEI) that reveals that over 3,500 new regulations were issued in 2014, and 224 new laws had been passed. According to the report entitled Ten Thousand Commandments, the cost of government regulations is $1.88 trillion per year, or $14,976 per every household.
Moody's has cut Chicago's debt two levels to junk status, belying Mayor Rahm Emanuel's claims of progress in lowering the city's debt.