This site last updated on January 23, 2012. Subscribers receive all of Dr. G's economic and financial reports as soon as they are produced. Selected reports are published on this website and available to non-subscribers. You may contact him by clicking this link:
Genetski Honored As Top Speaker Speakers Platform announced Dr. Robert Genetski has been voted one of the top 5 speakers in the fields of Economics/Finance for 2012. This is the third consecutive year Genetski has received the honor.
“I’m proud to receive such recognition,” said Genetski. “It raises expectations, which is good. It means I have to work harder to meet those higher expectations.” Each year, Speakers Platform recognizes five speakers with fifteen popular topic areas. Recognition of excellence in speaking is based on expertise, professionalism, client testimonials & references, presentation skills, original contribution to the field and public votes received at the Speaking.com Web site. Over 13,000 votes were cast from business leaders, educators, association members and others from around the world. Many voters effused about how much the nominees improved their personal and professional lives; a living testament to the positive impact and important work of all the candidates.
Dr. G Tells CEOs to Look for a Stronger Economy in 2012 Genetski spoke to 60 CEOs in Sarasota and 150 in Tampa telling them to expect continued gains in the year ahead. He surveyed the CEOs and found almost all reported business had improved over the past year. Only one CEO in the Tampa area indicated business was down over the past year.
Most CEOs in Tampa (fewer in Sarasota) reported significant increases in health insurance costs. Several CEOs said they expected recently passed healthcare legislation would force them either to fire a number of workers or close their businesses entirely.
Important Economic Developments I usually take the opportunity at the beginning of each year to present a longer-term perspective for the economy and financial markets instead of my usual monthly update. This year I’ve decided to go with a regular monthly update.
There are two reasons. First, longer-term forecasts aren’t very meaningful until there is more clarity on next year’s economic policies. Those policies could go in very different directions and provide major differences in the longer-term outlook. Second, there are tentative signs of potentially significant changes occurring right now that have important implications for both businesses and financial markets in the period immediately ahead. It’s important to track these changes. Far from abandoning a longer-term perspective, I’m in the process of analyzing the impact federal spending has had on economic activity over the past 110 years. The analysis will be particularly useful in the event there are major changes in the course of federal spending following the November elections. This report will be available shortly to all clients. See the monthly updateDr. G praises Gingrich’s Contract for the 21st Century “If Newt’s Contract for the 21st Century were to be implemented, it would ignite the most explosive rally imaginable in both the stock market and the economy. ” See Dr. G's comments Read the Legislative Proposals Read the Entitlement Reforms
Dr. G tells clients ghost of Keynes prevents solution to Europe's debt problems See Dr. G's comments
How Keynesian Economic Theory Contributed to the Financial Crisis Dr. G's detailed analysis of how Keynesian economic theory contributed to the financial crisis is particularly relevant at this time. This flawed theory continues to be the basis for policy decisions, such as the President's proposed “Infrastructure Bank.” Read how following Keynes can wreak havoc on the economy
Governor Perry's Views on Major Issues Dr. G summarizes Governor Perry's views on key economic issues. Perry on key issues
Japan's Third Opening Great tragedies can make for great opportunities. Dr. G's Nikkei column
Bernanke's June 22nd Press Conference: Fed Chairman Ben Bernanke provided some interesting insights to both his personal views and those of the Fed with respect to monetary policy. Dr. G comments on the Fed Chairman's statements. Click to read
Can a Blind Pilot Land Safely? Today's Wall Street Journal (May 23) describes a speech given by economist Robert Mundell. Mundell is one of the world's leading economists and is concerned that the end of QE2 will lead to a recession. Dr. G commnets on Mundell's views. Click to read
Health Care Suffers from Governmentitis Our health care system is broken. Prices are exorbitant. Doctors often avoid prescribing the treatment or medicine they believe is appropriate. Instead, they often defer to the one recommended or preferred by Medicare. Prescription drugs are either ridiculously cheap or horrendously expensive. Health insurance is costly and indecipherable.
The main problem with our health care system is that it has a bad case of governmentitis.... Click to read the entire article
Genetski Receives Top Speaker Recognition For the second consecutive year, Genetski has been named one of the 5 top speakers in Economics/Finance See the winners
Genetski announces completion of his latest book: Classical Economic Principles & the Wealth of Nations
The publication of this book is the first in series that details classical economic principles and their role in creating wealth. See the table of contents and read the introductionDr. G's Stock Market Forecasting Record
Since October, 2001 Dr. G has provided weekly advice on the likely direction of stock prices. This report updates his record through 2010. Read the entire reportBank Reserves and Their Implications for Monetary Policy
A recent study by the Fed's staff regarding the behavior of excess reserves helps to explain some of the unprecedented changes that have occurred over the past year. The study clears up some of the unknowns regarding the Fed's policy and has important implications for tracking monetary policy. The Fed staff report is on target in identifying a key source of the buildup in excess reserves.
The bottom line is that I am more convinced than ever of the need to subtract excess reserves from total reserves in gauging monetary stimulus. What they have failed to address is the issue of why the Fed would allow "net reserves" to decline during a period of financial stress. Until they address this issue I have to assume those at the Fed know not what they do. Read the entire reportDid Big Government Save the Economy from Depression or Create the Financial Crisis?
Before relinquishing our liberty to a growing and powerful bureaucracy it's crucial to answer a key question--did government save us from a Depression, or did it cause the financial crisis? Read the entire report
Dr. G explains the myth of fiscal stimulus
The historical evidence regarding increases in government spending is as clear as it could possibly be. It damages the economy. Read The Myth of Fiscal Stimulus.
Dr. G's critiques Krugman
Paul Krugman argues that we need a large fiscal stimulus package. Dr. G shows that these arguments are not supported by either sound economic theory or by the evidence. If fact, fiscal stimulus in the form of government spending makes the economy worse not better. Read Krugman's statements and Genetski's response.
Dr. G Provides a Classical Perspective to the Immigration Debate
In terms of the immigration issue, economics and moral principles lead to the same conclusion. The best way for the US to help our neighbors to the south is to minimize restrictions on workers coming into the US. A free market for workers provides the quickest means of helping both those in Mexico who need work and those in the US who need workers. As in all other areas where free markets operate, the end result of a free labor market would be higher living standards on both sides of the border. In the case of immigration policy, as in so many other areas, doing the right thing also provides the greatest benefits. Read the entire article. Immigration: Economic & Moral Issues
Dr. G Discusses The New World Order
In 1980, the three most powerful countries in the world were the United States, Japan and Germany. Today there is a new world order. Based on purchasing power parity estimates, the three most powerful economies are now the US, China and India. Read the entire article. A New World Order: US, China, India are 1-2-3
The following is an excerpt from one of Dr. G's recent speeches:
The Moral Case for Privatizing Social Security
The moral case for privatizing Social Security is compelling. Privatization provides the means to end poverty among the working poor. It ends poverty, not by a gift or by taking something from others, but by simply allowing people to keep what they have earned. Overtime, the buildup of assets leads to an appreciation that even the most menial job provides value and dignity to those doing the work. Once it becomes apparent that the much-maligned hamburger flipper can accumulate great wealth, both the flipper and those who disparage such work will have a greater appreciation for its value.
To view the report go to The Moral Case for Privatizing Social Security
Dr. G's Cost-Benefit Analysis of Social Security reform indicates that establishing private accounts are so powerfull that it isn't necessary to cut benefits
To view the report go to Social Security Reform: A Cost-Benefit Analysis
To view the worksheets underlying the analysis go to Social Security worksheets
