Author: Peter Morici

Investors may have overreacted to J.P. Morgan’s $2.3 billion dollar trading loss, and traders may have an opportunity for quick gains in bank stocks. But longer-term, U.S. banks may never recover to their past glory, writes guest columnist Peter Morici.   Read More

Austerity is imposing intolerable unemployment and political chaos in Greece, and won’t permit it to repay its debts. Athens must abandon the euro and reintroduce the drachma.    Read More

Recently, Beijing announced it would permit the yuan to rise in value as much as one percent each day. This was greeted by China watchers as an important indication Beijing would finally permit the yuan to rise against the dollar significantly enough to reduce the U.S. trade imbalance with the Middle Kingdom.    Read More

Without prompt efforts to produce more domestic oil, redress the trade imbalance with China, relax burdensome business regulations, and curb health care mandates and costs, the U.S. economy cannot grow and create enough jobs.    Read More

The deficits on oil and with China account for nearly the entire $621 billion trade deficit—nearly 4 percent of GDP. Cutting these in half, through changes in energy and trade policy, would increase GDP, including multiplier effects, by some $500 billion and create 5 million jobs.    Read More

Social conservatives are at it again—sacrificing the opportunity to advance their agenda on the altar of ideological purity.    Read More

Sunday, Beijing announced it was widening the daily trading range for the yuan to one percentage point. This news has been heralded as another indication that China is liberalizing its currency, and the yuan may now be fairly valued. This may be dead wrong.    Read More

The $620 billion annual trade gap is the most significant barrier to more robust growth and jobs creation, and oil and subsidized imports from China are the culprits.   Read More

Barack Obama and his Republican challengers don’t agree about much, but they do agree the U.S. economy can’t be turned around, and middle class prosperity saved, without a strong contribution from manufacturing.    Read More

Friday, forecasters expect the Labor Department to report the economy added 201,000 jobs in March, down from 227,000 in February but in line with the moderate pace of economic recovery.    Read More