Economic Insights – March 2017

The markets are always smarter than the economic consensus.  That’s because of a whole range of heuristic biases that neither laymen nor experts can fully manage.

Consider the last decade.

Today, stocks are up and so is sentiment among consumers, small businesses, builders, and other key segments.  Yet, most of the world is beating up on the Trump administration for daring to predict that low marginal tax rates, regulatory rollbacks, and the repeal of Obamacare will generate 3-3.5 percent economic growth in the years just ahead......