NCPA Commentaries by Bob McTeer
Nov 15, 2010
Forbes.com -- Bob McTeer's commentary on Forbes.com about fiscal crisis, recession and recovery.
Nov 11, 2010
Distinguished Fellow Bob McTeer has a short analysis of the national debt commission
Nov 10, 2010
Distinguished Fellow Bob McTeer weighs in on domestic monetary policy
Nov 09, 2010
Distinguished fellow Bob McTeer on the latest federal efforts to stimulate the economy
Dec 17, 2008
The Federal Open Market Committee's action on Dec. 16 was historic in its boldness and its willingness to go further into unchartered waters. In addition to reducing the target Fed Funds rate from 1% to a range between 0% and 0.25%, the FOMC promised to use open market operations and other measures to sustain the increased size of its balance sheet.
Dec 15, 2008
The last time I looked I couldn't find mark-to-market accounting in the Constitution of the United States. It must be the eleventh commandment because it's obviously sacred. I understand the President has the authority under the Emergency Powers Act, or some such legislation, to suspend the Bill of Rights in case of a national emergency. Well, we have a national emergency, so mark to market must be more important than the Bill of Rights.
Dec 10, 2008
Foreign trade has become more important to our economy in recent years. Exports and imports of goods and services have grown rapidly. A growing trade volume benefits our standard of living in several ways, but, as the recession deepens, my focus here will be limited to the impact of the trade balance on America's gross domestic product and, by implication, its job market. G.D.P and employment generally move in the same directions; so what I say about the impact on G.D.P generally applies to employment as well.
Dec 03, 2008
As the recession deepens, unemployment will continue to rise. How far it will rise largely depends on how much spending by consumers, businesses and the government slows - since demand for products affects whether companies expand or shrink their payrolls - and on how many people join or leave the labor force.
Nov 05, 2008
I've always been fascinated by the question, "If you're so smart, why aren't you rich?" Why don't the experts have an advantage in stock-picking? Or do they? Are markets so efficient that they incorporate all relevant information instantly and leave us nothing to trade on? Or, can some investors "beat the market" consistently?
Oct 29, 2008
The sharp growth in the Fed's consolidated balance sheet has received much attention lately. Some have questioned the Fed's balance-sheet capacity to continuing providing liquidity at home and abroad, and some have worried about the inflationary consequences of its balance-sheet growth down the road. This essay will address these issues--briefly.