Don Luskin

Don Luskin is Chief Investment Officer for Trend Macrolytics, an economics research and consulting service providing exclusive market-focused, real-time analysis to the institutional investment community. You can visit the weblog of his forthcoming book ‘The Conspiracy to Keep You Poor and Stupid’ at www.poorandstupid.com. He is also a contributing writer to SmartMoney.com.

Paul Krugman Unraveled

Paul Krugman's book, The Great Unraveling, hits bookstores today. Are you surprised that Krugman's publisher, W.W. Norton, has repeatedly refused my requests for a review copy of the book? Despite this inexplicable omission, America's most dangerous liberal pundit is...

Mutually Assured Destruction

For all the outrage and indignation voiced by the media and our public servants, the market didn't seem terribly concerned by last week's scandalous revelation that a hedge-fund manager had illegally profited at the expense of mutual-fund shareholders. That's powerful...

Mortgage Markets: In Control

In writing so much about Paul Krugman I have, to some extent, become distracted from writing about the most common and most dangerous media manifestation of the conspiracy to keep you poor and stupid. Krugman's only a very special case of it: his writings about the...

The Interest Rate Boogeyman

We're facing an important inflection point in the stock market. And as always happens at such critical times, investors are likely to get bamboozled by misinformation that they get from the mainstream media. I'm going to try to straighten some of that out. All eyes...

Investors Are Terribly Myth-Guided

Lord knows where these things come from or how they get started. Another one of those emails is making the rounds -- the kind that everyone seems to get and forward on to everyone they know, so you end up getting a dozen copies of it. So maybe you've already seen this...

Numbers Can Be Deceiving

Let's dig deeper into the bull-versus-bear debate that has dominated my last few columns. I've taken the bullish position -- but I'm not rabid about it, and I've discussed the things that worry me, too. I've gotten tons of email from readers along the way -- mostly...

WSJ Out of the Money on Microsoft’s Stock Options

The financial press is grave-dancing on Microsoft's decision to no longer award stock options to employees -- and instead to award shares of stock itself. A Wall Street Journal column by Jessie Eisenger crows "Microsoft, once the bullying monopolist, is trying to...

The Case for Bearishness

Even my old friends have turned against me! As the angry emails continue to pour in from bearish readers who are furious at me for my last couple of bullish columns, my old friend Fred Goodman -- the master technical analyst -- has issued a major sell signal. I don't...

Can We Afford Tax Cuts?

When President Bush first announced his plan last January to cut taxes on dividends, capital gains and personal income I sang his praises (first here, here and also here and here). Now Bush's plan has been law for over two months. While the critics have had no...

Eliot Spitzer Should Investigate Paul Krugman

I have an idea for Eliot Spitzer. As you know, the New York state attorney general has been crusading against stock research tainted by investment-banking relationships. He has fined Wall Street billions and ruined the careers of superstar analysts. So why doesn't he...

The Economics of Mass Destruction

Speech by Donald L. Luskin given at the Russell 20-20 Association Annual Meeting, May 7, 2003 I earn my living as an economist. I try to forecast how economic policies and ideas in the hands of government, business, media and academia move the world and move markets....

Investing and Gambling

Earlier this month, William Bennett -- the high-profile Republican "morality" advocate -- was outed in the media as a big-time gambler, a high-roller who made and lost millions in the casinos. There was the usual tempest in the public teapot, with Democrats attacking...

Deformed Tax Reform

President Bush's proposal to eliminate the double taxation on dividends was simple, moral, and innocent -- a lot like Jefferson Smith, the James Stewart character in Frank Capra's classic film, Mr. Smith Goes to Washington. And just like Smith, Bush's proposal got...

Warren Buffet Lies from the Pulpit

Ah, the beloved Warren Buffett. He's the second richest man in the world according to Forbes, and he's America's self-appointed corporate virtue czar, the Bill Bennett of the executive suite. He's the one whose folksy Berkshire Hathaway Corporation annual reports...

Another Quarter, Another Crisis?

Yesterday's market drop had the odor of an all-too-familiar panic about it. Once again, it feels as if the fragile fabric of policy stability in the Bush administration is threatening to unravel -- as if we're headed toward another "constitutional crisis" of the type...

Portrait of the Greenspan Era

With today's meeting of the FOMC not likely to generate a lot of surprises, let's take a moment to look at a chart that offers a remarkable perspective on monetary history. One wants to be careful about taking this kind of analysis too literally, but it is...

Ending the Double Taxation of Dividends

If President Bush and his team want a great argument to support their proposed elimination of the unfair double taxation of dividends and retained earnings, they should look to an excellent column in the "Week In Review" section of last month's New York Times. That's...

Bush’s Next War to Liberate the American Economy

Last week I sat across a table from President George W. Bush in the Roosevelt Room of the White House. He told me and a dozen fellow economists that "the American economy is a theatre in the war on terrorism." With steely conviction he told us that he intends to win...

Catch Us If You Can

It's back to last December 31, and we're playing a New Year's Eve guessing game. The country is heading for recession and war -- so what will the stock market do in the first quarter of the new year? If I told you that Amazon.com and Yahoo! would break out to highs...

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