macroeconomics

Let's take the politics out of the debate over public sector unions and their benefits, and look strictly at the figures. When you strip away the rhetoric, you can chart two macroeconomic trends and two patterns of fiscally foolish assumptions that have put both states and unions into this mess.

Retail investors would do well to avoid this trade: Betting against the U.S. dollar using one of the currency funds or ETFs that have sprung up to take advantage of our flaccid greenback. No, it's not because the dollar is strong or even appears to have much upside anytime soon. As we have said...