08/06/2021
Today

George Washington's Transformative Role as Entrepreneur

John Berlau, L and L

George Washington was one of the best examples of how our nation was rooted in entrepreneurship.

You Should Not Run Your Family Like a Business

Janet Manley, The New Republic

The economist Emily Oster's "Expecting Better" made parenting less daunting. Her new book, "The Family Firm," does the opposite.

Biden 'Zombie' Wealth Tax Will Kill Family Businesses

Andy Puzder, Fox Business

President Biden and Democrats have come up with a tax scheme that comes back to haunt the living who attempt to carry on family businesses following the owner's death.

U.S. Needs Infrastructure Bank Modeled on World Bank

Sadek Wahba, The Hill

Congress should seize the opportunity to create an institution independent of government, separate from the appropriations cycle, and capable of bringing large-scale, permanent, long-term funding to bear.

The Surprisingly Steady State of Consumer Debt In the U.S.

Emily Glaser, Vox

Not as bad as some might have expected.

A Critique of President Biden's Corporate Tax Hike

Bruce Thompson, The Examiner

President Joe Biden has proposed raising the corporate tax rate by one-third to 28%. Biden said he wants to raise the corporate tax rate because a study claimed that many large corporations paid no federal income tax last year.

A Man Californians Don't Deserve, But Truly Need

John Merline, Issues & Insights

Larry Elder is one man who could make the Golden State great again.

Money Is 'Double Missing' Thanks to Economists

Jeffrey Snider, RealClearMarkets

It was another one of those historical developments that meant far more than it otherwise had seemed. Not necessarily hidden agendas, more along the lines of the changing times; a visual or, in this case, legal changeover more profound than the seemingly blasé technical matters leading to this. The Bank of England in 1998 undertook a major shift, maybe its most consequential to date for a central bank whose origins stretch all the way back to 1694. Central bankers like to speak on their own terms, employing a jargon-dense vocabulary at first meant to maintain the illusion of superiority if...

Do Not Overrate Powell's Power, or Fear Brainard's Brain

Market Minder, Fisher

A midweek financial news potpourri.

Delta Variant Slowing Office Reopenings, & Perhaps Recovery

Matt Egan, CNN

The planned grand reopening of offices across America is in serious doubt because of the Delta variant.

Seeds of Lockdowns Were Planted in 2005-2006

Jeffrey Tucker, Brownstone Institute

If they tried to generate panic based on next to nothing in 2005-06, people should have asked at the time, what will they do when something real comes along? It took 15 years but now we know.

A Case for Applying Money-Market Regs to Tether

Rep. Warren Davidson, RCM

A few days ago, the President's Working Group on Financial Markets held a meeting where Secretary Janet Yellen likened Tether to money market funds. I am typically skeptical when I hear regulators opining on the subject of cryptocurrency for fear that they may promote overburdening regulations. In this case, I think it's time for regulators to go a step further and finally acknowledge that Tether is, in fact, a security. Tether, the cryptocurrency with the third-largest market value, was first issued in 2014 and originally claimed to be pegged to the U.S. Dollar at a 1:1 basis. Tether held...

Is China's Bear Market an Opportunity?

Jeffrey Kleintop, Charles Schwab

China's recent stock market pullback has been in line with the average annual drawdown; historically, this volatility has tended to produce double-digit annualized gains.

China ADRs: Not (Yet) At Risk From Clampdow

Thomas Kirchner, Camelot Portfolios

Lower Skilled Workers: Bolder, or Scarcer?

Allison Schrager, Economics21

Where does the salary power reside?

Tough for Equities, August Good for Fixed Income

Lawrence Gillum, LPL Financial

Most investors are aware that seasonal patterns exist in equities, but they may not be as familiar with the seasonal patterns in fixed income markets. As pointed out in the LPL Research Market Blog on Monday, August 2, stocks have historically been relatively weak in August and September. This temporary increase in equity volatility is tough for equity investors, but can core fixed income investors glean anything from a traditionally volatile period for equity markets? Because of the seasonal patterns in the equity markets, changing investor risk sentiment in August could make core bonds more...

Schwab Sector Views: Drilling Down on Energy

David Kastner, Charles Schwab

We recently downgraded our rating on the Energy sector. Here's why.

The Seeds of Stagflation

Brian Wesbury & Robert Stein, First Trust Advisors

'All Weather' Is More 'All Weather' Now

Jeff Erber, Grey Owl Capital Management

He Uncovered A Fraud But SEC Won't Pay Reward

Leah McGrath Goodman, II

After reaping more than $50 million from a sprawling fraud uncovered by Eugene Ross, the SEC has handed down a final order denying him any award.

4 Very Undervalued Wide-Moat China Stocks

Jakir Hossain, Morningstar

A regulatory crackdown has left some big names at cheap prices.

No, Our Highways and Bridges Are Not Crumbling

Robert Krol, Reason

Washington isn't helping, so let states take the lead.

Why Not Go for Broke in Cryptoland?

David Segal, New York Times

Some hype coins mint instant millionaires. Others go bust. Why not take a chance?

All In: How Gambling Swallowed Sports Media

Danny Funt, CJR

How gambling swallowed sports media

The Chip Shortage Is Getting Worse

Rebecca Heilweil, Vox

The semiconductor supply crunch came for cars and phones. Now consumers are facing higher prices.

Big Econ Challenges Await Biden & the Fed

Jim Tankersley & Jeanna Smialek, NYT

Expiring unemployment benefits and the Delta variant add uncertainty to a recovery that has brought strong growth but an unusual labor market.

A Case for Concern About Corporate Debt

Mike DiBiase, American Consequences

Your credit score worries pale to the concern over corporate credit – and when companies default, the victims will be unsuspecting investors.

Infrastructure Bill Creates More Need for Workforce Training

Harry Holzer, Hill

With the apparent creation of hundreds of thousands of new and well-paying jobs in the U.S., and with millions of workers already needing such training, our legislators need to make workforce training the top priority that it deserves to be.

Proof GOP Govs Were Right About Jobless Benefits

Brad Polumbo, The Examiner

It takes a brave politician to take away welfare benefits from voters. But that's exactly what 26 governors, almost exclusively Republicans, have done. In their states, these governors prematurely ended the federal government's "temporary" pandemic supplement to unemployment benefits that was…

"Inflation" In the U.S. Is More About Your Political Leanings

Emily Stewart, Vox

How worried you are about inflation largely depends on how you vote, a new poll shows.

A Sad Loss of Freedom Is the Real Cost of Public Debat

Jonathan Plante, AIER

"Liberty is not measurable in dollars; it is priceless. As such, we should argue against any infringement on liberty—in this case public debt—for that reason." ~ Jonathan W. Plante

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

Five Minutes A Thief: Crime In Newsom's California

Erica Sandberg, City Journal

In Gavin Newsom's California, crime is too easy.

Annuities, Once More, With Feeling

David Merkel, The Aleph Blog

It is rare when it makes sense to buy a variable annuity.

Other People's Mistakes

Morgan Housel, Collaborative Fund

"It is easier to recognize other people's mistakes than our own."

An Action Plan for Long-Term Care

Christine Benz, Morningstar

Many people put off creating a long-term-care plan. This step-by-step guide can help you get over inertia, dread, or both.

August Jobs Day Bearish Last 20 Years

Jeff Hirsch, Almanac Trader

August Jobs Day Bearish Last 20 Years

Let's Get Back To Normal

Scott Sumner, The Money Illusion

This is the new normal.

Are Central Banks to Blame for Rising Inequality?

Kenneth Rogoff, PS

The view that central-bank interest-rate policy can and should be the main driving force behind greater income equality is stupefyingly naive, no matter how often it is stated. Central banks can do more to address the inequality problem, but they cannot do everything.
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