Economic Insights – August 2013

Good things are starting to happen in the U.S. economy, despite the continuation of dysfunctional fiscal policies and relatively ineffective monetary policies. That has translated into steady but anemic growth that will continue through the third quarter.

Let's look at the specifics: The sequester and fiscal cliff deal definitely haven't "killed the consumer." Despite predictions of doom and gloom early in 2013, retail sales have continued to march higher. They were up 0.4 percent in June, and were up 5.7 percent from a year earlier. W.....