05/14/2020
Today

Blackrock Discovers Joy of Other People's Money

Benjamin Zycher, RealClearMarkets

While genuflecting to its fiduciary responsibility to "promote long-term value" for those whose assets it is managing, Blackrock---the largest asset manager in the world---has announced...

The Bay Area Billionaires Are Breaking My Heart

Farhad Manjoo, The New York Times

Looking for hope in San Francisco.

Why Trump Might Be Right About Negative Interest Rates

Eric Levitz, New York

Donald Trump has encouraged the Federal Reserve to fight the coronavirus recession by bringing benchmark interest rates below zero percent. Fed Chair Jerome Powell opposes negative interest rates. But the president has a decent case.

Mises Institute Ascribes Non-Existent Brilliance to Fed

John Tamny, RealClearMarkets

Peter Thiel writes that "the value of a business today is the sum of all the money it will make in the future." This basic, pithy truth is too often forgotten when stock valuations are...

Why Gen Z Will Be Hit Hardest Economically by Covid Fallout

Zamira Rahim, CNN

As a disease, coronavirus disproportionately preys on the elderly. But Generation Z, at least in the short term, is set to bear the brunt of the ensuing financial chaos.

Federal Stimulus Favors Rich Investors & Major Companies

Robert Pozen, The Hill

Lawmakers needs to reinstate these critical rules for business losses.

This Virus Isn't Only Pandemic to Come from China

Christopher Rufo, New York Post

The novel coronavirus has turned America upside-down, killing tens of thousands and laying waste to some 30 million jobs. We know the virus emerged from Wuhan, China, perhaps from a virology lab.

Don't Blame This on Globalism

Veronique de Rugy, American Institute for Economic Research

Like every crisis, the COVID-19 pandemic has opened the door to all sorts of ideas. Some of these ideas are good, but many of them are terrible. The undoubtedly worst idea of all, though, is that this pandemic was caused and aggravated by globalization and free markets.

California Is Sort of Re-opening, But Please Read Fine Print

Steven Greenhut, TAS

Sacramento Our potentate, Gavin Newsom, announced plans early this week for a reopening of California society â?" at least that's...

The Slow Return of Eurosclerosis

Thomas Kirchner & Paul Hoffmeister, RealClearMarkets

Since the beginning of the crisis, perma bears and perma bulls have disagreed about whether we are headed for a severe depression or whether there will be a rapid V-shaped recovery once the economy...

3D Printing Set to Take Leap to Creation of Nuclear Reactor

Irina Slav, OilPrice.com

3D printing is one of the technologies of the future, and now researchers in the Department of Energy are trying to print the world's first nuclear reactor core

Lawsuit Pandemic Could Cripple Business Re-Opening

Steve Forbes, What's Ahead

Steve Forbes on why businesses must be shielded from the coming avalanche of meritless coronavirus lawsuits that could cripple their recovery and the litigation protection needed to give them the confidence to reopen and drive economic growth.Steve Forbes shares his What's Ahead Spotlights each Tuesday, Thursday and Friday.

Valuation Investing During Financial Crises, Recoveries

John Holt, Applied Finance

Over the past 25 years, Applied Finance has studied market patterns and trends using millions of Valuations. The firm's live database goes back to 1998, with further data starting from the early 1990's. The two [...more]

Roth vs. IRAs: Which Is Right for Your Retirement?

Rob Williams, Charles Schwab

Important distinctions exist between traditional and Roth IRAs, including eligibility and contribution limits. Here's a guide to help you decide what's best for you.

S&P 3,100, DJIA 27,570

Brian Wesbury & Robert Stein, First Trust Advisors

Forget About the Shape, Try to Define 'Recovery'

Richard Moody, Regions Bank

Helping You to Make Sense of Your Tax Refund

Hayden Adams, Charles Schwab

Was your tax refund smaller than in previous years? Did you owe more than usual? Here's why.

Years of Progress Erased In a Single Month

Richard Moody, Regions Bank

Bear and Bull Both Running at Full Speed

Liz Ann Sonders, Charles Schwab

Both the bear market and subsequent rally have occurred at warp speed; yet the economic recovery may be disappointing to what the market's now "priced in."

Worker Protections That Should Be In Next Deal

Elizabeth Warren & Ro Khanna, CNN

We have to protect these workers who are protecting us, and we must act with urgency. That's why we have introduced a 10-point proposal that we're calling the Essential Workers Bill of Rights, and it should be included in the next relief package.

Why Musk's Civil Disobedience May Be Key to Econ Recovery

Dan Sanchez, FEE

PPP Loan Grift Shows Fight Against Greed Never Ends

Rep. Katie Porter, MSNBC

PPP loan grift is still happening. Congress must open the books â?Â" or corporate greed wins again.

Another Month of Lockdown Will Devastate NY Bus.

Betsy McCaughey, New York Post

Why The Era of Offshoring U.S. Jobs Is Over With

Robert Lighthizer, New York Times

Experts Can Be Wrong: We Can Reopen Safely Amid C19

Rep. Jody Hice, USA Today

The unprecedented lockdown of American society was executed with one primary goal in mind: preventing our hospitals and medical professionals from being overwhelmed by the new coronavirus.

Experts vs. Market Wisdom: Int. with John Tamny

Bob Zadek, The Bob Zadek Show

IDEAS NOT ATTITUDESmall government. Limited federal powers. End victimless crimes.

Why Stanley Druckenmiller Thinks Risk/Reward Is Bad

Steve Goldstein, MarketWatch

Famed investor Stanley Druckenmiller isn't high on stocks.

Investors Are Closer to Despair Amid Breathtaking Rally

Mark Hulbert, MarketWatch

Most sentiment gauges are pessimistic, which is bullish for stock prices â?Â" to a point

The Magnitude of the Econ Challenge Even In Normal Times

Don Boudreaux, AIER

Sometimes simple arithmetic reveals realities that are both astonishing and astonishingly important. Such is the case for the arithmetic performed by this little button on every scientific calculator – including, no doubt, on the calculator you have on your smartphone: x!

This Simple Action Will Fix a Looming Nightmare Care of PPP

Gene Marks, The Hill

Just a small tweak to the eight-week forgiveness period would put the program back on course to reach its goals.

Economically Vulnerable Need End to Shutdowns

Andrew Afifian, Washington Examiner

It should come as no surprise that the coronavirus pandemic is taking a larger economic toll on our most vulnerable populations. A 2016 study by Pew Research Center found that at $17,100, the median net worth of black households was less than one-fifth that of all U.S. households ($97,300), meaning they have much less in savings, if any, to rely on before being unable to pay for necessities.

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

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

The New Empty Argument Against Trade

Pinelopi Koujianou Goldberg, Project Syndicate

To those already predisposed to favor domestic production over international trade, the COVID-19 pandemic seems like a case in point. Yet a closer look at the facts shows that, if anything, the current crisis offers powerful evidence of why we need global supply chains and widely distributed production.

Reopening Is Really About Cutting Off Unemployment

Peter Dorman, EconoSpeak

Donald Trump, cheering on his "warriors" who demand that states lift their lockdown and distancing orders (where they have them), would hav...

More Investors Want GDP Over Public Health

Amy Whyte, Institutional Investor

Week by week, institutional investors polled by II reveal rising alarm over the economic crisis.

Long-Term Debt Crisis Is Now a Short-Term Problem

Peter Suderman, Reason

Even in a healthy economy, rising debt and deficits posed challenges. The current crisis has magnified those problems.

What happened to Elon Musk?

Michael Ballaban & Peter Valdes-Dapena, CNN Business

Elon Musk truly entered the public consciousness just over a decade ago, when Tesla was a quirky upstart putting batteries in the chassis of a little Lotus sports car. Musk grew it into an electric powerhouse, building cars that he promised would one day drive themselves, with doors that swung upward much like the time machine from Back to the Future.

Dumb Reopening Might Just Work

John Cochrane, The Grumpy Economist

Maybe we won't get a second wave.

Uncertainty

Howard Marks, Oaktree Capital Management

All we don't know...
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