05/19/2021
Today

Housing Is on Fire Right Now, but It's Not a Top

Chris Igou, American Consequences

The COVID exodus has pushed droves of Americans out of cities while helping fuel this blazing housing market that continues to climb.

These Invisible 'Whales' Could Sink the Economy

Alexis Goldstein, New York Times

Regulators have shockingly little insight into the inner workings of funds like Archegos. Here's how to fix that.

Apr. CPI Was Far Cooler Than the Headline Read

Market Minder, Fisher Investments

Under the hood, April's US Consumer Price Index was far cooler than the headline read.

They're Finding There's No 'On' Button for Whole Economy

Jeffrey Tucker, RCM

Think for a moment about Directive 10-289. It was passed via executive edict amidst a collapsing economy. Factories were shutting down. Workers were fleeing their jobs. Production was grinding to a halt. People were starting to panic. Government decided to do something to fix the problem. It ordered everyone to keep doing what they were doing before. It tried to stop history. The Directive read: "All workers, wage earners and employees of any kind whatsoever shall henceforth be attached to their jobs and shall not leave nor be dismissed nor change employment, under penalty of a term in...

The Rules Even Elon Musk Can't Break

Alan Ohnsman & Sofia Lotto Persio, Forbes

The electric-car maker's Berglin Gigafactory has hit one speed bump after another and its billionaire CEO may have met his match in strict German regulators.

Philanthropic Wokeism Undermines Free Market Principles

Rick Graber, RCM

Recently, the Ford Foundation announced plans to provide $1 billion in funding toward social justice programs, an extension of the $1 billion they handed out in 2015. The resulting press coverage, including a profile of their president on 60 Minutes, was effusive. Ford is not alone in their philanthropic wokeism. Many other large foundations have followed suit. The Mellon Foundation, one of the largest funders of the arts and humanities, is now prioritizing social justice in all its grantmaking. The Rockefeller Foundation too is committing $1 billion over the next three years to "catalyze a...

An Argument About Inflation That Is Worth Pondering

Alex Pollock, Law & Liberty

If the new inflationary era predicted by Goodhart and Pradhan becomes reality, the follies of the present will seem blatant.

Nashville Is Becoming a 'Galt's Gulch' for Blue-Staters

Mark Pulliam, City Journal

The city is attracting conservatives and others looking to escape hostile economic policies and cancel culture.

Why Carbon Pricing Is Ultimately a Tax On Everything

Gregory Zerzan, The Hill

The challenge in switching from fossil fuels isn't a lack of incentives — it's an engineering problem.

How to Make Carbon-Neutral Gas Out of Thin Air

Jeff Wise, New York Magazine

On a mass scale, it could be used to fly airplanes or power heavy machinery, replacing petroleum in some situations. It even has a catchy name: eFuel.

How BlackRock Strikes Out on Issue of Climate Change

Bernard Sharfman, RCM

There is a growing understanding that BlackRock's increased offerings of environmental, social, and governance (ESG) investment funds, along with its increased willingness to throw its weight around in the corporate boardroom, are an impediment to the world's ability to deal with climate change. A recent op-ed by Tariq Fancy, BlackRock's former chief investment officer for sustainable investing, helps explain why. Mr. Fancy believes, as do I, that we need to reduce greenhouse gas emissions sooner rather than later. To that end, Mr. Fancy was greatly disappointed to find that while his work...

Seriously, Biden Should Just Tax Rich to Fund Infrastructure

Emily Stewart, Vox

What the debate about paying for infrastructure misses.

One-Way Capital Flow

Russell Redenbaugh & James Juliano, Kairos Capital Management

Residential Construction: A Strong Number

Richard Moody, Regions Bank

The Spending Isn't Sustainable

Brian Wesbury & Robert Stein, First Trust Advisors

Honoring Robert Mundell

Richard Salsman, InterMarket Forecasting Inc.

Is Stagflation Back?

Jeffrey Kleintop, Charles Schwab

The shortage of supplies indicates risk of economic weakness coupled with rising prices.

Don't Worry, the Fed Has a Plan for Inflation

Pat O'Hare, Briefing.com

Life of Tax: How Much Tax is Paid Over a Lifetime

Editors, Self Financial

Ever wondered how much tax you will pay over your lifetime? We've worked it out for each state in the US. See the analysis here.

Capitalism and Freedom Are the Coronavirus Heroes

Ira Stoll, The New York Sun

"Thanks, science." The phrase is suddenly ubiquitous on social media posts from individuals grateful that they or their children have just been vaccinated against Covid-19. I'm grateful for the impulse people have to express gratitude. Surely science

It's Time for Congress to Fully Suspend the Debt Limit

Christopher Russo, The Hill

While at the New York Fed, I forecasted Treasury's finances and advised officials on the debt limit.

'Drive An Electric Car' Is a Lousy Biden Reply

Zilvinas Silenas, Washington Examiner

Energy Secretary Jennifer Granholm gave a pithy response at a White House press briefing last week. A reporter asked her how the government would be responding in the wake of the recent Colonial Pipeline ransomware attack by Russian hackers.

Traffic Cones Confused a Waymo Self-Driving Automobile

Matt McFarland, CNN

A confused Waymo self-driving car was captured on video as it became stranded on an Arizona road earlier this month while carrying a passenger and then unexpectedly driving away as a worker from the company's roadside assistance arrived to help.

Ride-Sharing Companies & the Battle for the 'Gig Work' Future

Sarah Jaffe, Vox

Ride-sharing companies are pushing to make a third category of "independent" worker the law of the land. Drivers say the notion of independence is little more than a mirage.

Investors Won't Buy the "Transitory" Inflation Line

Daniel Lacalle, Mises Institute

The Federal Reserve and European Central Bank repeat that the recent inflationary spike is "transitory." The problem is that investors do not buy it. Inflation is always a monetary phenomenon, and this time is not different.

Is Govt Bidding Workers to Sidelines? John Tamny Int.

Dan Proft, Dan Proft Show

More at http://www.morninganswerchicago.comFacebook page at http://facebook.com/morninganswerFollow on Twitter at http://www.twitter.com/morninganswer

The Class of 2021 Can Become Another "Greatest Gen"

Dan Schnur, USA TODAY

We can't wait for you to gradually achieve your potential. Amid the pandemic and other crises, we're ready now for Generation Z to become Generation C.

The Failure of a Socialist Dreamer in Indiana

Richard Gunderman, Law and Liberty

Richard Gunderman looks back on the life and failures of Robert Owen, a utopian dreamer.

Debt Is Tool of Oppression, So Let's Cancel Student Debt

Amy Czulada, The Hill

Across centuries and geographies, powerful elites have used debt not only as a means to extract profit, but also as a means to silence and coerce the working class

Tax Day Is Here. What You Need to Know About Filing 2020

Jeanne Sahadi, CNN

Monday, May 17, is the official deadline for individuals to file their 2020 federal tax return, and in most instances their state tax return, too. Here is everything you need to know.

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

Shattering the Debt Ceiling Myth

Fisher Investments Editorial Staff, Fisher Investments

Short The Journalist's Optimism

J.C. Parets, All Star Charts

The magazine cover indicator is flashing red.

Bill Gates Will Never Be The Same

Theodore Schleifer, Re/code

The aura that Gates built over the past two decades may be permanently shattered.

Will the Recovery Last?

Jim O'Neill, Project Syndicate

Although some recent high-frequency indicators have cast a shadow on what previously appeared to be a robust, rapid recovery from the pandemic-induced recession, there is still ample cause for optimism. But much will depend on how well policymakers in the major economies manage the foreseeable risks.

3 Tricky Decisions for Every Retirement Plan

Christine Benz, Morningstar

Not even experts agree about the 'right' withdrawal rate, long-term-care insurance, and annuities.

States With Surpluses Are Still Getting Huge Fed Bailouts

Eric Boehm, Reason

California has a $75 billion budget surplus, but federal taxpayers are about to send the state $27 billion in additional aid.

Value Investing Still Beats Growth Investing

Jack Vogel, Alpha Architect

A few weeks ago I saw comments on Twitter regarding the Russell 3,000 Value and Growth indices having approximately the same returns since inception.For example, here is Ben Johnson from Morning

Why Is The Fed Still Stimulating Housing?

Joshua M Brown, The Reformed Broker

Stimulating the housing market at this point is psychotic.
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