Chart of the Day I (above) has been featured before on CD and is worth a re-post. It shows that America’s middle class is disappearing but it’s because they are moving into higher income groups not moving into lower income groups. Between 1969 and 2017, the share of US households making $100,000 or more (in constant 2017 dollars) has more than tripled from 9% to 29.2%, while the share of households making $35,000 to $100,000 decreased from 53.8% to 41.3%. 

With new sources of uncertainty seemingly proliferating by the day, a broad economic slowdown should come as no surprise. And as long as the rules and institutions governing the global economy remain in doubt, continued underperformance is to be expected.

Hoover Institution fellow Niall Ferguson discusses the findings of the Mueller report, when he thinks Donald Trump’s presidency will end, and his views on global growth. 

Hoover Institution fellow Niall Ferguson says he thinks a recession in 2019 is unlikely if inflation stays in check, gives his opinion on how the 2020 election will pan out, and talks about how to improve the state of our economy. Ferguson emphasizes the impact new technologies will have on workers and how reforming education could help spur the economy in a better direction.