04/23/2021
Today

How Warming Became Centerpiece of Biden Economic Agenda

Ella Nilsen, Vox

The politics and urgency around climate change are shifting.

Our Conversation About the Environment Is Broken

Kent Lassman, The Examiner

In 1970, Sen. Gaylord Nelson of Wisconsin predicted that "accelerating rates of air pollution could become so serious by the 1980s that many people may be forced on the worst days to wear breathing helmets to survive outdoors." Buoyed by a United Nations proclamation, Nelson inaugurated Earth Day…

Biden's Tax Plan Helps Blue States and Foreign Nations

Alex Hendrie, The Hill

It is unclear how policies like raising the corporate rate, enacting a SALT tax cut for wealthy blue state residents, or enacting a global pact on high taxes helps American families and workers.

Joe Biden Wants to Tax the Hell Out of Rich Investors

Jordan Weissmann, Slate

Get ready for private equity guys to start making jokes about Uncle Joe Stalin.

Innovation Ultimately Follows Production

Henry Kressel & David Goldman, Newsweek

The talent to create innovations ultimately follows the production facility.

It's Time for Transparency and Accountability at the Fed

Andrew Quinlan, RCM

In February, all of the Federal Reserve's payments systems failed for half a day. The systems include FedWire, which the Fed itself advertises as the "premier electronic funds-transfer service that banks rely on for mission-critical, same-day transactions," as well as the ACH network offered for payroll and other large transactions. This isn't the only recent failure; in April 2019, FedWire also went down for hours. The most obvious, but perhaps not most serious, concern is that the core infrastructure of the U.S. financial system keeps failing. Fedwire processes over $3 trillion in...

A Welcome Political Quiet Relative to Last Year

Market Minder, Fisher Investments

Global politics are overall quiet compared to last year, but that doesn't mean nothing is happening.

A Profound Statement In Ongoing Saga of Shadow Money

Jeffrey Snider, RCM

Could low repo haircuts on US Treasury collateral actually be a source of potential danger? That it might be is itself a profound statement in the ongoing saga of shadow money and its key component of money dealer capacities. Bills and Treasury futures, hedge funds and money market funds, basis trades, repo, and, most of all, balance sheet constraints. A saga truly for the ongoing imperfections of a global money system never quite able to get over itself. In the worst parts to the first global financial crisis, repo and haircuts found their way into the mainstream if only briefly. To briefly...

Steps to Take to Avoid Running Out of $$$ In Retirement

Jazmin Goodwin, CNN

The pandemic has put a dent in many people's financial lives, affecting their ability to save and stash away cash for retirement. Add the fact that more Americans are living longer, and the prospect of financial security in retirement for many is falling short.

Democracy Depends on Dialogue: Please Support RCF

David DesRosiers, RCF

LIFT Act Will Only Succeed In Widening U.S. Digital Divide

Johnny Kampis, RCM

The push for symmetrical broadband speeds in proposed federal legislation, the Leading Infrastructure for Tomorrow's (LIFT) America Act, (LINK) will only hurt the quest for closing the digital d

Failure of Imperial Modeling: Far Worse Than We Knew

Phillip Magness, AIER

"Just over one year ago, the epidemiology modeling of Neil Ferguson and Imperial College played a preeminent role in shutting down most of the world. The exaggerated forecasts of this modeling team are now impossible to downplay or deny, and extend to almost every country on earth. Indeed, they...

SPACs: What Are They, Are They Risky?

Liz Ann Sonders & Kevin Gordon, Schwab

Special purpose acquisition companies—also known as blank-check companies—have gained immense popularity since the beginning of 2020.

The Winners and Losers of the American Jobs Plan

Anu Gaggar, Commonwealth

Who will be the winners (and losers) of the American Jobs Plan? Commonwealth's Anu Gaggar makes her picks.

Existing Home Sales: Trend Is Rising, But How Long?

Richard Moody, Regions

How Can the American Rescue Plan Act Help?

Carrie Schwab-Pomerantz, Schwab

The American Rescue Plan Act includes much more than stimulus payments, especially if your children are minors.

What China's Growth Numbers Say About What's Ahead

Market Minder, Fisher

What the latest Chinese economic data reveal about what lies ahead.

California Chases Away Industry

Bret Swanson, American Enterprise Institute

Even perhaps the internet industry it invented.

Yes, Stocks Are Still Cheap

Brian Wesbury & Robert Stein, First Trust Advisors

The Destructive Green Fantasy Of Bitcoin Fanatics

Jemima Kelly, FT Alphaville

Imagine bitcoin has no environmental problem — it's easy if you try.

Surely We Can Do Better Than Elon Musk

Nathan Robinson, Current Affairs

Getting past the cult of Genius and the bleakness of capitalist futurism.

Why China's Tycoons Keep Quiet

Raymond Zhong & Alexandra Stevenson, NYT

High-profile business leaders have been detained, sidelined or silenced as the Communist Party moves forcefully to keep companies in line. Today, the best strategy is to lie low.

Joe Biden Declares War on Tax Havens – in Europe

David Böcking, Der Spiegel

U.S. President Joe Biden is calling for a minimum corporate tax rate of 21 percent for companies. But countries like Ireland and Luxembourg have established a lucrative revenue stream through big breaks for multinationals. A number of EU countries could soon feel the pinch.

What Three Great Economists Taught Us About Currencies

Jeffrey Frankel, PS

Today, freely floating exchange rates suit most large countries better than the late economists Richard Cooper, Robert Mundell, and John Williamson thought. But some countries do well with firmly fixed exchange rates, while at least half of the world's countries fall in between.

Could The Fall Of A Value Icon Be A Good Sign For Value?

Brett Arends, MW

Timing is everything

Is Apple a Growth Stock, a Value Stock, or Both?

Dan Lefkovitz, Morningstar

Where the market's largest stock lands can affect your returns.

The $17 Billion Endowment Shrouded In Secrecy

Bob Fernandez, ProPublica

A director and alumnus of America's wealthiest boarding school claims he had to sue the institution to see how it spends the funding it receives from sales of Hershey bars and Reese's Pieces.

Shareholder Primacy: Profits, Not Causes

Allison Schrager, City Journal

The enduring wisdom of shareholder primacy

Why the Best Values Are Still Abroad

Amy Arnott, Morningstar

A long-term slump for international stocks means lower price tags.

Inflation and the Value Premium

Larry Swedroe, Alpha Architect

Value stocks outperform when inflation is high.

Worker Shortage Threatens Restaurant Recovery

Danielle Wiener-Bronner, CNN

A few weeks ago, Philippe Massoud posted online ads looking for a cook to hire at ilili, his New York City restaurant.

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

Have We Reached Peak Bitcoin?

Daniel Jelski, Trotsky's Children

Have we reached peak bitcoin? Yes--I think we have, at least for this year. I feel very strange saying that, seeing as I've been an enthusia...

Is This Really Better Than Borrowing?

Tyler Cowen, Marginal Revolution

Some states would see capital gains rates over 50% under Biden's plan.

The Beardstown Ladies Are Still Investing

Zachary Crockett, The Hustle

In the 1990s, a group of elderly women from Beardstown, Illinois gained national fame for their stock returns. But there was a catch.

Two Underappreciated Forces Driving Markets Today

Ben Carlson, AWOCS

There are a number of factors that drive the markets that most investors pay attention to. Things like earnings, economic growth, interest rates, inflation, market trends and valuations.All these

Why Rates Are Going Higher

Bryce Coward, Knowledge Leaders Capital

10 year Treasury rates peaked at the end of March at 1.74% after having risen from low of just 0.56% back in the summer of 2020. Now, the rate stands at 1.57% even as economic data continues to come in smoking hot and policy remains easy.

Elon Musk's $150 Million Charity Spending Spree

Theodore Schleifer, Vox

Texas schools. A food bank. Now a climate-change prize. The Tesla founder discovers Big Philanthropy.

Apple's Latest Gadget Draws Antitrust Scrutiny

Rebecca Heilweil, Vox

Apple's new AirTag looks and works a lot like the trackers produced by Tile.
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