On Productivity Growth, SMidCaps & India

Our Roaring 2020s scenario for the economy is our base case, to which we assign a 50% probability. Its linchpin: robust productivity growth and the bevy of benefits it brings to corporate America and the economy at large. By our favored measure, productivity growth is accelerating. Today, Eric corroborates that using Joe’s data on S&P 500 companies’ collective earnings and margin fundamentals. … Also: Joe looks at how the earnings of companies in the three S&P capitalization-sized indexes fared during the Fed’s recent tightening cycle. … Finally, Melissa reports on India’s resilient economy and an ambitious proposal to reform national elections processes there.