08/17/2021
Today

A Chase for Wages Via Chase For Graduate Degrees

Kay Hymowitz, New York Post

It's not just metaphorical to say that a master's degree is the new bachelor's degree: about 13 percent of people aged 25 and older have a master's.

Wall Street Experience Says You Cannot Do Deals on Zoom

William Cohan, NYT

Even as the Delta variant surges, it's imperative that the finance industry get back into the office.

50 Years Later, We're Still Adjusting to Nixon's Decision

Joe Calhoun, Alhambra

Today is the 50th anniversary of the "Nixon shock", the day President Richard Nixon closed the gold window and ended the post-WWII Bretton Woods currency agreement. That agreement, largely a product of John Maynard Keynes, pegged the dollar to gold and most other currencies to the dollar. It wasn't a true gold standard as only

The Great Game On Anniversary of the End of BW

Marc Chandler, Marc to Market

Breaking Down and Making Sense of the Global Capital Markets with Political Economist Marc Chandler

We're In the Early Days of the Senate's Crypto Fight

James Surowiecki, MSNBC

Crypto advocates worry that new regulation would defeat the point of decentralized finance.

Approach Investing As a Hedgehog or a Fox

Dan Ferris, American Consequences

We're all privy to bulls and bears in the market, but there's another pair of financial spirit animals in the economic ecosystem.

Redistricting Boosts Gridlock That's Usually Good for Stocks

Market Minder, FI

With midterms looming, redistricting adds to gridlock—and, in our view, that is good for stocks.

Book Review: Mark Spitznagel's Truly Excellent 'Safe Haven'

John Tamny, RCM

It's a Silicon Valley truism that there's little point to patenting a good business idea. If it's truly good, it will be roundly rejected. More specifically, the potential of what's a good idea won't be understood. Think about it. If a good idea were already understood, it would no longer be an idea. It would instead be an existing business concept. This basic truth is too often forgotten vis-à-vis China. Supposedly the Chinese are "stealing" our intellectual property, but what could they take? The greatest commercial leaps of tomorrow are concepts wholly dismissed in the present. As for...

Samuelson Friedman: A Bio Marred By Endless Untruth

David Simon, Spectator

Samuelson Friedman: The Battle Over the Free Market is a biography of Nobel Prize winning economists Paul Samuelson and Milton Friedman.

What My Freshmen Students Will Learn About Econ.

Donald Boudreaux, AIER

"Economics supplies indispensable mental habits and analytical tools for gaining a better understanding of why and how it is that each of us, every moment of every day, enjoy the fruits of the labors and creativity of literally billions of strangers."~ Donald J. Boudreaux

Tragic Lockdowns Will Be Biden'x Next Afghanistan

Jeffrey Tucker, Brownstone

My overall impression is that the mask wearing and distancing are entirely performative at this point, just as the fighting in Afghanistan has been for the better part of 15 years – performative in the sense that no one really believes it is working but very real in terms of cost.

Only Political Types Could Be So Blind to What Went Wrong

Rob Smith, RCM

"I don't understand what went wrong." This is the refrain I have heard the past two days from journalists and other establishment elites concerning the Taliban's takeover of Afghanistan. I am here to tell you what went wrong and why this happened. Donald Trump was a businessman and a complete product of the private sector. When he approached a problem, his approach was 100% devoted to fixing the problem. When career Washington insiders approach a problem, it has nothing to do with actually fixing the problem, it all has to do with making it appear that they fixed the problem. See the "Paris...

Meme Stocks and Systematic Risk

Derek Horstmeyer, Enterprising Investor

How do meme stocks move relative to stock market indices and other meme stocks?

Gimme Shelter: Housing at a Turning Point?

Liz Ann Sonders, Charles Schwab

The bull market in housing over the past year has been astonishing; but pandemic-induced effects are in the rearview, likely signaling some easing ahead.

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.

Gary Gensler's SEC Cultivating Elizabeth Warren

Charles Gasparino, New York Post

SEC chief Gary Gensler has been copycatting Sen. Elizabeth Warren's crusade on Wall Street in his bid to be the Department of Treasury boss, Charles Gasparino writes.

Investor Uncertainty About Airbnb Is a Sign of the Times

Julia Horowitz, CNN

It's a tough moment to predict the future of the travel industry. Just look at Airbnb's stock.

America Runs on 'Dirty Work' and Moral Inequality

Eyal Press, New York Times

Ethically compromising jobs, like material resources, are not distributed equally.

Happy 86th Birthday, Social Security. Let's Expand Benefits

Nancy Altman, Hill

A robust expansion of Social Security benefits, funded by having millionaires and billionaires pay their fair share, is the best birthday present we could give the program — and ourselves.

Why Businesses Should Embrace 2nd Chance Hiring

John Buckley, The Examiner

Alexis Martin is a young woman who was failed by the system multiple times.

Apple Would Like to Clear a Few Things Up About Privacy

Sara Morrison, Vox

The privacy-first company's invasive approach isn't going over well with many.

The Secret Ronald Reagan Told Me About Gold & Great Nations

Ron Paul, NYS

Today marks 50 years since President Richard Nixon closed the "gold window," ending the ability of foreign governments to exchange United States dollars for gold. Nixon's action severed the last link between the dollar and gold, giving the U.S. a

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.

Fisher Investments on Election-Year Uncertainty: This, Too, Shall Pass

Fisher Investments Editorial Staff, Fisher Investments

Ken Fisher on Nixing the VIX

Fisher Investments Editorial Staff, Fisher Investments

Will Uncle Sam Force Big Tech to Break Up?

Fisher Investments Editorial Staff, Fisher Investments

Shattering the Debt Ceiling Myth

Fisher Investments Editorial Staff, Fisher Investments

Afghanistan: Sitting on $3 Trillion Worth of Minerals?

Paul Ausick, 24/7 Wall St.

A USGS assessment in 2007 estimated that Afghanistan's mineral resources. A few years later, the value of those resources may have been $1 trillion. Now it could be worth three times that amount.

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.

6 Charts on Rising Tech Stocks

Lauren Solberg, Morningstar

As value slows down, tech is back in the driver's seat.

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.

It's Time to Re-Onboard Everyone

Liz Fosslien, Harvard Business Review

In the face of unprecedented turnover and uncertainty, even long-term employees may feel destabilized right now.

A Quantum Computing Breakthrough

Sky News, MSN

Scientists from the University of New South Wales in Sydney, Australia, have announced the discovery of a major breakthrough in quantum computing.

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."
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