U.S. MANUFACTURING RESURGENCE

November 12, 2021

Worried about inflation, especially after October’s big consumer price number? The CPI’s 6.2% increase from a year ago was the fastest 12-month gain since 1990 and the fifth month in a row of +5% inflation. 

What about rising interest rates? How about America’s economic standing in the world?   

Be prepared to question many of the negative assumptions you have been hearing and listen to some other data that shines a different light on the outlook. Our guest is a highly respected economist who is no pollyanna. She is just a top economist who looks at data many others miss.  

Nancy Lazar is Partner and Chief Economist of Cornerstone Macro

Lazar and her team are challenging the assumptions that higher inflation is here to stay, that interest rates have to go higher and that emerging markets will be the driver of global growth post-pandemic. 

I began our conversation with the capital spending question. In a traditionally consumer-driven economy, why is capital spending going to play such an outsized role? 

WEALTHTRACK Episode #1820 broadcast on November 12, 2021

Listen to the audio-only version here:

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NANCY LAZAR


ACTION POINT

LISTEN TO PEOPLE WHO AREN’T AFRAID TO CHALLENGE CONVENTIONAL THINKING

LAZAR’S MYTH CHALLENGES

MYTH: U.S. Companies have been spending much more on stock buybacks than on investment in their business. 

REALITY: Yes, some do but capital spending is 4x the size of buybacks. 

  • Companies that spend on their business outperform.
  • Companies that don’t spend on their business underperform.

MYTH: China is destined to become the world’s economic powerhouse.

REALITY: Strong case for why China’s growth and influence slowing 

  •      U.S. manufacturing renaissance likely to continue for years to com

ONE INVESTMENT

AMERICAN MANUFACTURING RENAISSANCE

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Nancy Lazar from the WEALTHTRACK Archives:


WEB EXTRA

INDEPENDENT ECONOMIST

Perennially top-ranked economist Nancy Lazar explains why she analyzes data many of her competitors either miss or ignore and her motivation for becoming an economist.

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