05/04/2021
Today

Bide Has a New Deal, This Time For Everyone

Binyamin Appelbaum, New York Times

The Biden administration's plans would allow millions of American women to decide whether to work outside the home.

The New York Times Argues w/Itself About CA, Biden, Taxes

John Tamny, RCM

Last Thursday the New York Times reported what should be obvious, but that eludes most in our midst: the rich pay the vast majority of taxes collected. By far. This is a statement of the obvious simply because the "vital few" drive all progress in all walks of life. Think the NBA before Bird, Magic and Jordan, think the PGA before Tiger Woods, think how the rare blockbuster film pays for all manner of small movies without stunts, car crashes, and explosions. Stated simply, what's great is a consequence of the giants on whose shoulders we stand. The very talented few pull us forward....

FDR's Second 100 Days Were Cooler Than His First 100

Jordan Weissmann, Slate

Let's talk about the period when Roosevelt actually created the modern welfare state.

Imitative Technology Won't Replace the Office, It Will Improve It

Joel Mokyr, CJ

Digital advances have taken imitative technology on a miraculous trajectory—bringing new challenges but also new possibilities.

Dr. Fauci: Brilliant Cheerleader for Endless Catastrophe

James Bromberg, RCM

It's nice to see that Anthony Fauci is beginning to earn the solid international reputation that he deserves. Yen Makabenta, an acute observer and regular contributor to the Manila Times, recently acknowledged Dr Fauci as COVID's "fearmonger-in-chief." At long last, a departure from treating Fauci as an infallible demigod. Dr Fauci's panic patina started to become obvious as his much feared post-2020 holiday season "surge on top of a surge" failed to materialize. Rather than an objective and dispassionate scientist, it began to appear that Fauci is more a brilliant cheerleader for...

Europe Find Itself Back In a Slump. And It's Not All Virus

Ryan Cooper, The Week

The E.U. never recovered from the Great Recession

Tech Companies Blaze A New Trail Free Of Politics

Allison Schrager, New York Post

The Web software firm Basecamp is asking employees not to discuss politics or partake in activism on company time.

The Sale of Yahoo & AOL Wrecks All the Big Tech Hysteria

Patrick Hedger, RCM

Verizon recently announced its plan to sell Yahoo and America Online (AOL) to a private equity group for $5 billion. Some find the news quaint, even humorous as Yahoo and AOL used to be synonymous with being "Big Tech" in the early days of the internet. Who we really ought to be laughing at are the modern day antitrust hysterics who seek to do everything from banning firms like Verizon from acquiring such properties to breaking-up today's equivalents of Yahoo and AOL. Many of us clearly remember that Yahoo and AOL were the titans of their time. In fact, in 1998, Fortune magazine published an...

By Choosing Musk, NASA Show It's Serious About Moon

Mark Whittington, WE

When NASA really wants to make a statement, it does not kid around. By choosing SpaceX as the sole contractor for the lunar Human Landing System, NASA proclaimed that it is serious about returning astronauts to the lunar surface for the first time in about 50 years — and the sooner, the better.

Have We Reached Peak Market Speculation?

Joseph Calhoun, Alhambra Investments

Last week I was contacted by two clients seeking information about cryptocurrencies. One was my godson, 12 years old and just getting started in investing. So far, he's bought Nintendo and Roblox (the latter against my recommendation but what do I know about video games?). But last week he said he wants to buy a

Want to Get Rich? The Path To It Is Exceedingly Boring!

Editors, Kite & Key Media

Admit it. You've fantasized about being rich. We all have. But what if the key to personal wealth isn't some high-paying job?

Lumber to Bitcoin: 12 Inflation-Hedging Investment Moves

BIll Baldwin, Forbes

Do you own any bonds? Think about making your portfolio less hazardous.

Here Comes Sell In May

Ryan Detrick, LPL Financial Research

Market Blog Friday, April 30, 2021

ISM Manufacturing: Growth Continues, at Slower Pace

Richard Moody, Regions

What's Working? Two Ideas For Investors

Jeffrey Kleintop, Charles Schwab

In recent months, two investment themes have been rewarding investors with outperformance: defense sector companies and those participating in share buybacks.

March Economic Data Set High Bar for April

Richard Moody, Regions Bank

Q1 GDP: Getting Closer to Where We Started From

Richard Moody, Regions Bank

Fed Steady; Inflation Risk "Transitory"

Liz Ann Sonders, Charles Schwab

The Federal Reserve made no change to its interest rate or asset purchase policies; while strengthening its economic outlook and viewing inflation risk as "transitory."

Markets Aggressively Forecasting End to Lockdowns

Jeff Erber, Grey Owl Capital

How Past Work Experience Influences MBA Admission

Ilana Kowarski, U.S. News

Although in rare instances it is possible to get into an MBA program immediately after college, that is not the typical route. Most MBA hopefuls need to gain work experience in order to become competitive candidates for business school, some admissions experts say.

The Anti-Lockdown Movement Is Very Large and Growing

Jeffrey Tucker, AIER

"The reason why the lockdown advocates are intensifying their perception and exercise of hegemony right now is to forestall the possibility that the entire lockdown praxis will fall into massive disrepute. They will not get their way. Let the blowback begin." ~ Jeffrey Tucker

When Politicians Panicked: Int w/Tamny

Ron Baker & Ed Kless, The Soul of Enterprise

Before we get into how amazing this interview was, let's learn a bit about more about John Tamny John Tamny is Political Economy editor at Forbes, senior economic advisor to Toreador Research & Trading, and editor of RealClearMarkets.com (RCM). A spin-off of the policy website RealClearPol

Sen. Schumer Can't Stop Left From Chucking SEC Pick

Charles Gasparino, NYP

Chuck Schumer apparently isn't progressive enough for today's Democratic Party. Further proof can be found in the strange, fleeting tenure of Alex Oh as head of the Securities and Exchange Commissi…

Buffett Sidelines ESG, Which Irritates Some Investors

Michael de la Merced, NYT

Berkshire Hathaway's shareholders are expected to follow the chairman's lead and reject demands for more disclosures.

Why Biden's 'Tax the Rich' Plan Is Socialism

Trish Regan, American Consequences

Biden's pursuing a seemingly socialist agenda of wealth redistribution, with America's money going to Uncle Sam -- or Uncle Joe, rather.

Why Biden's C-19 Relief May Have Changed Everything

Barney Frank, The Hill

Conceding to moderate Republicans by reducing the stimulus bill bought the Obama administration exactly nothing.

Why the GOP Should Break Up with Big Business

Bill Briggs, Washington Examiner

A lot of ink has been spilled recently regarding corporate America's evolving relationship with our two major political parties. One wonders whether large companies navigating the shoals of business friendly public policy and pressing social issues are winning new friends, alienating longtime…

Why Even Buffett Has Been Buffeted By The Index

Robin Powell, TEBI

Even Warren Buffett has been struggling to outperform. For the ten years ending in 2020, he has lagged the S&P 500 by 2.4% annually. What's gone wrong?

What We Want To Hear At Berkshire's Meeting

Greggory Warren, Morningstar

The impact of the coronavirus, taxes, cash, and succession planning are topics that we hope Warren Buffett will address on Saturday.

How Much Inflation Is Too Much?

Jeanna Smialek, New York Times

The Fed thinks price increases will be temporary. Some economists are worried they won't be.

Most Expensive Agenda In History & Liberals Want More

Eric Boehm, Reason

"We need a Green New Deal for Public Housing," says Rep. Jamaal Bowman. "We need a Green New Deal for Cities…and we need a Green New Deal for Public Schools."

Ken Fisher on Nixing the VIX

Fisher Investments Editorial Staff, Fisher Investments

Shattering the Debt Ceiling Myth

Fisher Investments Editorial Staff, Fisher Investments

Big Government vs. "Trickle-Down Economics"

Dan Mitchell, International Liberty

If nothing else, Biden's big-government agenda is triggering a debate about fundamental issues, such as whether it's a good idea to make America's economy more like Singapore or m…

Economic Lessons From COVID-19

David R. Henderson, Reason

What the pandemic has re-taught us about the perils of planning, the power of incentives, and the complexities of externalities.

The Promise & Peril of Central Bank Digital Currencies

Anne O. Krueger, PS

With China and others venturing into a realm once inhabited by private cryptocurrencies, there will be increasing pressure on the United States, Europe, and others to follow. But before everyone rushes in, policymakers would do well to consider the foreseeable risks and how they should be managed.

Lumber Mania is Sweeping North America

Emily Stewart, Vox

A lumber frenzy has taken over homebuilding, Home Depot, and the internet.

The U.S. Stock Market SHOULD Be In a Bubble

Ben Carlson, AWOCS

Based strictly on valuations, the U.S. stock market is in a bubble:There are reasons for this.Interest rates have been at or near generational lows for more than a decade. The housing mark

Facebook and the Normalization of Deviance

Sue Halpern, The New Yorker

The trouble with waiting to address problems long after you know that they exist.

The Great Fake: The Hope & Peril of Imitative Tech

Joel Mokyr, City Journal

Digital advances have taken imitative technology on a miraculous trajectory—bringing new challenges but also new possibilities.
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