08/16/2021
Today

A 1930's Myth That Won't Die Gave Us Nixon's 8/15 Blunder

John Tamny, Forbes

Fifty years ago today President Nixon turned the broad misunderstanding of money among economists into policy.

Scrapping Bretton Woods Traded Winning for Losing

Arthur Laffer, New York Sun

The formula to ensure prosperity is simple: Add a low-rate, broad-based flat tax to spending restraint, free trade, and sound money, and there you have it. The Great Depression was born out of xenophobic protectionism, embodied in the 1930 passage of

Fifty Years After Leaving Gold, Dollar Must Go Crypto

Niall Ferguson, Bloomberg

After Richard Nixon scrapped Bretton Woods, the U.S. currency's exorbitant privilege only grew — because the U.S. embraced innovation, not regulation.

Lionel Messi Gets Paid In Crypto, the Internet Explodes

Elisabeth Dellinger, Fisher

Soccer player gets paid in cryptocurrency. Internet explodes.

Like Kids wMatches, GOP Toys with Debt Ceiling

Michael Hiltzik, Los Angeles Times

With the U.S. economy on the line, the GOP again threatens to block an increase in U.S. debt limit.

ProPublica Is Grasping at Straws In Pursuit of Relevance

Andrew Wilford, RCM

Ever since ProPublica, a progressive news organization, somehow got access to a collection of confidential taxpayer information, it has blasted out a series of half-baked exposés intended to give the impression of shady back-room deals and endemic corruption cooked into the tax code. But once one looks past the smoke and mirrors, it becomes clear that ProPublica is grasping at straws to present as revelatory information that we already knew.

Retirement Planning Upgrade Turns 401(k) Into Cash Machine

Paul Katzeff, IBD

Coming soon: annuities in your 401(k) plan. This will add a major power tool to your retirement planning kit. But should you buy one?

What You Should Know About 401(k) Rollover to IRA

Russ Wiles, Arizona Republic

The new federal guidelines focus on potential conflicts of interest and what obligations your adviser owes you to help you make wise financial choices

Will That Rather Expensive College Degree Pay Off?

Ann Carrns, New York Times

A new report measures the "return on investment" offered by various higher education programs.

When Mean Reversion Collides w/Oil Demand

Kim Iskyan, American Consequences

No matter how well-meaning the Paris Climate Accord, Big Oil as we know it will persist for a lot longer than everyone thinks.

CDC Eviction Moratorium Puts Us On Dangerous Path

Bill Pascoe, The Examiner

The Biden administration this month launched its most diabolical attack yet on our freedoms, and it is likely to get away with it because congressional Republicans either don't understand the stakes or are too timid to stand up and fight.

All the Job Quitting Could Signal a Bullish Boom On Way

Sid Mohasseb, The Hill

The Great Resignation, and the subsequent shift to small business creation, has come at a time when America needs it most.

Fed Tapering: Will This Time Be Different?

Kathy Jones & Christina Shaffer, CS

Although the prospect of the Federal Reserve tapering its bond purchases has unsettled markets in the past, we expect it to be more orderly this time around.

Diving the Meaning of Consumer Sentiment Turn

Richard Moody, Regions Bank

Should You Ponder Delaying Retirement?

Carrie Schwab-Pomerantz, Charles Schwab

Working longer is just about always a financial plus, but there's more to consider.

Dial M For Market

Christopher Sheldon, KKR Credit

The market will continue to keep investors in suspense.

Is Inflation Still Accelerating?

Brad McMillan, Commonwealth Financial Network

What's the story with inflation? Commonwealth CIO Brad McMillan evaluates the numbers to determine where inflation is coming from—and where it's going.

More Moderate CPI Increase Settles Nothing

Richard Moody, Regions Bank

Too Much Time On Government

Brian Wesbury & Robert Stein, First Trust Advisors

Motherhood vs. The American Work Ethic

Rani Molla, Vox

Working motherhood is getting harder. Let's fix that.

How Millennial Investors Lost Millions on Ackman's SPAC

Michelle Celarier, II

"Trading options was addictive, like cocaine," says one investor. "It was instant gratification."

Robinhood Bros Hiding Losses From Their Wives

Quinn Myers, Mel Magazine

What could possibly go wrong?

Steer Clear of Electric Vehicle Startups?

Margaret Giles, Morningstar

SPACs and other new companies may not be the best way to capitalize on growing EV adoption.

The Wedding Business Is Booming

Jeanna Smialek, New York Times

Frantic caterers, $200,000 weekends: The wedding industry is on fire, bringing spending, and bottlenecks.

CBDCs Are Coming. The US Must Prepare

Emily Parker, CNN Business

We may soon be living in a CBDC world. And if America stays on the sidelines, it could miss its chance to influence what that world looks like.

The Britney Effect: Conservatorships Get Scrutiny

Ryan Yu, CS Monitor

Britney Spears calls her case "abusive," and her dad agreed to step down Thursday. Critics say conservatorships facilitate elder abuse and undercut disability rights.

Shame. Shame. Shame.

Alex Tabarrok, Marginal Revolution

The Afghanistan war was an epic disaster. Nothing good came of it. The least we can do as we evacuate, however, is to help all the Afghanis who helped us and who are now under death threat from the Taliban. But our record on Afghan refugees is shameful.

Tech Firms In 'Arms Race' To Buy Up American Homes

Maxwell Strachan, VICE

"iBuyers" are gearing up to grow massively in the coming years, with unforeseen consequences for the U.S. housing market.

Investors Can't Ignore Bitcoin Any More

Pedro de Noronha, Evergreen Gavekal

Bears and bulls sit on both sides of virtually every debate. Bitcoin is no different and, in fact, might be the modern-day posterchild for pontificators and investors waging an age-old argument around intrinsic "value."

Is Liquidity Evaporating? (What A Gas, Man…)

David Merkel, The Aleph Blog

Valuations are high, and the Fed is tightening, even if they say they are not doing so.

Why Welfare Reform Worked

Peter Suderman, Reason

Work, not dependency, was what lifted many people up out of poverty.

Cancel Student Loan Interest

Ben Carlson, A Wealth Of Common Sense

Make all student loans at 0% interest.

Are Gyms the Next Blockbuster?

John Seewer, Associated Press

Going to the gym was always part of Kari Hamra's routine until last year's government-ordered shutdowns forced her to replace the workouts with daily rides on her Peloton stationary bike.
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