The U.S. Economy Does Not Have a Demand Problem

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Some observers seem to be able to detect signs of a slowing in U.S. economic growth, even though in reality, companies cannot produce enough to meet customer orders.  U.S. industry is dealing with near record raw material lead times, fluctuating commodity prices, with an upward bias, transportation bottlenecks and worker shortages.  No wonder economic activity, … Continued

Supply, Demand and the Great TP “Crisis”

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Supply and demand theory postulates that the relationship between supply and demand determines pricing and capacity adjustments.  This is true, but more likely to develop over the long term.  Supply/demand imbalances can have many causes and it is incumbent on investors to understand the underlying factors. For example, the early 2020 apparent lack of TP … Continued