My Latest at – Checking In On Capex

That the tax reform bill and broad business confidence that preceded it led to a strong boost in capex is uncontroversial but more difficult to discern is what caused the business investment data to collapse in the second half of 2018. At, today, I focus not on the high-level need for increased capex or a re-statement of the thesis for such a need, but rather on the more granular state of capex in present economic conditions.