Other factors are slowing the US economy, but trade war is one of the big ones. Big corporations have postponed capital spending plans until they know the rules of the game for international supply chains. As a result, orders for new nondefense capital goods orders have fallen year-on-year. It should have been obvious that this would happen; I warned repeatedly CapEx would suffer.
OTHER NEWS
Finally, the system worked. For all the doubts we harbor these days about the resilience of our democracy, and our system of checks and balances, the failure of the Hanoi summit revealed some of the strength of our democracy. The president can absorb a tactical failure without having to swallow a strategic defeat. Indeed, if […]
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