06/03/2020
Today

How We Got Into This Big Mess

George Melloan, American Institute for Economic Research

In one of a growing number of Californian protests against the state’s three-month-old coronavirus lockdown, one woman hoisted a sign saying: “We’ve tried communism, now give us back our liberties.” She may have to wait awhile. Individual liberty doesn’t have a high priority these days in Sacramento and some other capitals of populous blue states.

Office Towers Are Still Going Up: Who Will Fill Them?

Kevin Williams, New York Times

Developers around the country are grappling with the fallout from the coronavirus pandemic as tenants cancel plans and workers fear returning to the office.

DisneyWorld Is Preparing to Reopen. It's Gonna Be Weird.

Josh Barro, New York

The company is aiming for a reopening in mid-July. But, for many reasons, the experience won't be what you are used to.

Why 'Great Gatsby's' Catastrophe Feels So Contemporary

Kelly Scott Franklin, NRO

A review of Under the Red White and Blue: Patriotism, Disenchantment and the Stubborn Myth of the Great Gatsby, by Greil Marcus.

Fear Not, Markets Never Retreat Based on 'Mean Reversion'

Market Minder, Fisher

Markets are never "due" to behave in a certain manner based on averages, in our view.

Supply Chain Realignment to Reshape Investment Landscape

Bill Campbell, RCM

The deteriorating relationship between China and the United States will have profound impacts on the global markets. Nationalism was already on the rise on both sides of the Pacific when the COVID-19...

Don't Be Fooled By Bullish Arguments Rooted In Volume

Mark Hulbert, MarketWatch

Market volume doesn't lead stock prices

Don't Be Naive. Currency Devaluations Boost No One.

John Tamny, RealClearMarkets

A British woman by the name of Sally Challen just inherited 1 million pounds. At first glance this is happy news, but there's a backstory. In 2011 she was found guilty in the murder of her...

How Magic Johnson Set Bar For Athletes In Business

Priya Desai, Sports Illustrated

On The Record podcast, former SI writer Richard Hoffer shares how Lakers' legend Magic Johnson had dreams of dominating the boardroom before he even graduated high school and how he set the bar for athletes looking to cross over into the business sector.

Making a Case That Lost Decade Looms For the U.S. Economy

Charles Riley, CNN

It could take the US economy most of the next decade to recover from the coronavirus pandemic, the Congressional Budget Office said on Monday.

Stop Excusing Looters, They're Ruining NYC's Future

Nicole Gelinas, New York Post

Midtown Manhattan and Times Square looked like a war zone Tuesday. The mayor and his would-be successors are a lost cause, but if Gov. Cuomo won't stop the looting, we'll lose our retail tax base and hundreds of thousands of jobs â?" for years.

Riots Will Delay Recovery, Dishonor George Floyd's Memory

Christos Makridis, Hill

Besides dishonoring his memory, these riots risk undermining the recovery from the "Pandemic Recession," particularly in minority and low-income communities.

More Green Shoots for Economy

Brian Wesbury & Robert Stein, First Trust Advisors

The Fed's Historical Pandemic Response

Michael Bordo, Manhattan Institute

How does the Fed's monetary policy response to the Covid-19 pandemic relate to historical experience?

ISM Manufacturing: Headline Continues to Outperform

Richard Moody, Regions Bank

ISM Manufacturing & Jobs Report Bookend Busy Week

Richard Moody, Regions Bank

Data So Far Suggest We Will Eat in Restaurants

Allison Schrager, Manhattan Institute

While the increases have been small, data suggests that people are slowly returning to restaurants.

What's Wrong With the Market's Rebound?

Jeffrey Kleintop, Charles Schwab

Cyclicals typically lead the market higher when stocks rebound from a bear market and recessionâ?"but not this time.

A Tale of Two Stock Markets

Binky Chadha, Deutsche Bank Group

This Market Rally Refuses to Conform to the Norms

Lawrence McMillan, MarketWatch

The rally in the S&P 500 index remains strong and continues to defy detractors

It's Now Record Ratings & Record Chaos on Cable News

Ben Smith, New York Times

Cable networks are facing threats, and opportunities, in a national crisis. Now, Fox is fighting back and CNBC is looking to the right. CNN is defined by Jeff Zucker, and he may run for mayor.

Will C19 Rules Wreck Theme Parks?

Lawrence Clark, Foundation for Economic Education

With summer coming, theme and amusement parks trying to reopen and rescue their business face immense obstacles, almost all caused by government mandates. These mandates may result in theme parks not opening, closing shortly after opening, or offering a poor customer experience.

The HEROES Act Fixes What the CARES Act Ineptly Broke

Tressa Pankovits, The Hill

Viruses and economic crises don't differentiate between direct and private student debt.

Corona-Recession Is No Excuse for Medicaid Expansion

Sally Pipes, The Examiner

House Democrats are looking to funnel billions of dollars into state Medicaid programs through the HEROES Act, which narrowly passed the lower chamber in mid-May.

Hourly Employees Should Be on WMT's Board of Directors

Lenore Palladino, CNN

Walmart's shareholders have a chance to take an important step in the right direction by backing a proposal from Walmart employees to add employee representation to the company's board of directors.

That's One Way to End a Lockdown

Editors, American Institute for Economic Research

There’s an old 18th-century saying about the best-laid plans of mice and men. From such plans – the most prestigious public health professionals working with the most powerful people, deploying for the first time a new way to control disease – we now stand in the midst of rubble. It seems hard to believe. It was only a few months ago that the United States had a strong economy and a bright future. How we went from domestic peace and prosperity in February 2020 to the madness – cities on fire, military rule, curfews, economic desperation – we see today will...

An Interview w/John Tamny About C-19 Economy

John Hinderaker, The Dan Proft Show

Attacks On Big Tech Are Rooted in Discredited Theories

Kristian Stout, Law & Liberty

Big Tech looms large in the popular imagination because, in many ways, it is everywhere. Search engines provide us with instantaneous information. Social networks allow us to stay connected to friends and loved ones. Nearly any conceivable good or service is available within 2 days at the tap of a virtual button. To understand Big ?

Twitter Confronts Trump, FB Keeps Out of It

Mike Isaac & Cecilia Kang, New York Times

The companies have similar policies on the limits of what they allow users to post. But Facebook is more permissive when the user is President Trump.

Some Econ Classes Have Emerged Stronger Amid Covid-19

Joel Kotkin, USA Today

The COVID-19 pandemic has disrupted many things, but also accelerated America’s descent into a new form of feudalism. The preexisting conditions of extreme economic concentration, inequality and reduced social mobility already were painfully evident before, but the pandemic has made them considerably worse. Pestilence has often shaped societies, most notably in the Middle Ages, where populations were repeatedly decimated, particularly among the urban poor. Disease undermined societies and economies, obliterating trade and nurturing the influence of prelates linking pestilence...

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

Did Lockdown Orders Help Fuel Riots Nationwide?

Christian Britschgi, Reason

Millions of people out of a job and stuck at home for months is a recipe for civil unrest.

A 13% Yield: What Could Go Wrong?

Amy Arnott, Morningstar

There's not much to like when it comes to structured notes.

After the Rally, Stock Market No Longer Undervalued

Dave Sekera, Morningstar

Easy returns have been made; the focus now turns to selecting specific undervalued stocks.

Bleak America

David Jones, Think In The Morning

We live in a beautiful and a bleak America.

Kids: The Recession-Proof Industry

Nick Fouriezos, Ozy

While many industries are suffering, parents are still keeping children-focused companies alive.

The Limits of Extreme COVID Monetary Policy

Paola Subacchi, Project Syndicate

Just because the major central banks can continue to introduce increasingly unconventional measures doesn't mean that they should. The current economic crisis demands primarily a fiscal-policy response, whereas extreme monetary policies carry high risks and produce adverse side effects.

Why Stocks Are Up Amid Chaos In The Streets

Jeff Cox, CNBC

A global pandemic, racial strife, political upheaval â?Â" and a rising stock market amid the chaos. While it sounds a lot like 2020 it also has echoes all the way from 1968.
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