The Longest Expansion

(1) A short review of the supply-side religion. (2) The central dogma: Tax cuts pay for themselves. (3) Fact-based vs faith-based economics. (4) Some of the supply-side stimulus leaks out through the widening trade deficit. (5) Supply-side stimulus in a fully employed economy can increase net interest cost for the government. (6) Fed officials thinking out loud about fiscal policy stimulus. (7) Index of Coincident Economic Indicators shows economy still growing around 2.0%. (8) Yield curve is just one of 10 components of Index of Leading Economic Indicators. (9) No boom, no bust. (10) This expansion has a shot at the record books.