07/27/2021
Today P.J. O'Rourke, American Consequences For all the market skeptics, agnostics, and atheists out there, P.J. O'Rourke synthesizes the sage financial insights of one Milton Friedman. |
John Zavitsanos, NYT My office reopened at the height of the pandemic. We've thrived. |
John Tamny, RCM As what you're presently reading is being typed, your typist is wearing a $9.99 pair of reading glasses purchased last week at Safeway. These are +1.25 glasses, after the +1.00 pairs stopped working very well. Roughly five pairs of glasses are about to meet their demise thanks to increasingly farsighted eyes that require more powerful lenses. It's nothing, or next to nothing to replace the glasses. At $9.99 the plan will be to purchase several pairs in case of loss, misplacement, or in some instances just to avoid walking down the stairs or out to the car to retrieve a pair. Which is the... |
Ryan Cooper, The Week Why rich countries are deluded about the climate threat |
David Freddoso, Examiner Never mind the old aphorism. In 2021, it seems the road to hell is actually paved with "infrastructure." |
Joseph Calhoun, Alhambra Investments If you were waiting for a correction in stock prices to put some money to work, you got your chance last week. The Dow Jones Industrial Average was down nearly 1000 points at the low Monday and closed down 725, a loss of a little over 2%. The S&P 500 did a little better but |
Steve Malanga, City Journal As government revenues rebound, GOP-led states are cutting taxes while Democratic states ponder increases. |
John Cassidy, The New Yorker Predictions of a second "Roaring Twenties" have proved premature. |
Art Carden, Am Institute for Economic Research "It has been the government's failure to not let market prices work at all and instead address the pandemic with command-and-control policies that have created shortages, thwarted innovation, and distributed vaccines based not on what will most internalize the spillover benefits of vaccination... |
Anna North, Vox Emily Oster made her name using data to empower parents. Then she began using her number-crunching approach to call for schools to reopen during Covid-19. |
Andrew Wilford, RealClearMarkets Senator Ron Wyden (D-OR) recently rolled out a plan to overhaul the pass-through deduction instituted in the 2017 Tax Cuts and Jobs Act (TCJA). While the deduction, known as Section 199A, is not without its flaws, Wyden's "solution" would undermine much of the rationale that led to the deduction being passed into law in the first place. Even more bizarrely, it seems to work at cross purposes with Democrats' efforts to reduce the use of the "independent contractor" employment designation. |
Lee Ohanian, The Hill If productivity had grown at its historical level since 2007, my calculations show GDP would be nearly $5 trillion higher than it is today. |
Ryan Detrick & Jeffrey Buchbinder, Realclear |
Russell Redenbaugh & James Juliano, Kairos Capital Management |
Richard Moody, Regions Bank |
Liz Ann Sonders & Jeffrey Kleintop & Kathy Jones, Charles Schwab The spread of the COVID-19 delta variant has raised concerns of a faster-than-expected slowdown. |
Jeffrey Kleintop, Charles Schwab COVID-19 resurgences appear to be the primary driver of moves across many markets this year. |
Brian Wesbury & Robert Stein, First Trust Advisors |
Jeanne Sahadi, CNN Maybe you have a natural affinity for making and managing money. Or maybe you're just trying not to make a hash of it. Either way, someone at some point in your life likely dropped a pearl of wisdom in your lap that has made your financial life better than it would have been otherwise. |
Chris Talgo, The Hill So, showering the economy with $6 trillion in new spending (the price tag of Biden's Build Back Better plan) will lead to lower prices? That is utter nonsense. |
Dan Alexander, Forbes Tom Vilsack went straight from Obama's cabinet to a big-money position at a trade organization. Then he won the lottery (literally). |
Salena Zito, New York Post One street in a Pittsburgh neighborhood illustrates the crisis faced by small businesses in the US. |
Talia Lavin, MSNBC.com Private space flight is possible because of the ultra-wealthy ignoring the rest of the world's problems. |
William Luther, American Institute for Economic Research "Perhaps these trends will reverse. But it seems more likely that the reports of the forthcoming death of cash have been greatly exaggerated––that is, so long as the government doesn't kill it." ~ William J. Luther |
Maurie Backman, Motley Fool Got a tempting offer on your house? Don't assume you'll be able to find a new existing home or begin construction on a new one by the time you close. |
Emily Stewart, Vox Corporations are at the wheel because the government isn't. |
Daron Acemoglu, Project Syndicate With Sino-American relations increasingly coming to resemble the geopolitical dynamics of the original Cold War, the world is heading toward a fraught new equilibrium. While some in the West long for a new "Sputnik moment" to motivate investments and reform, they should be careful what they wish for. |
Drew Dickson, Albert Bridge Capital As it turns out, it isn't that the people are paying a bigger growth premium for US Growth over European Growth; but instead it is that people are paying a (much) bigger multiple for US Value than for European Value. |
David Streitfeld, New York Times As the world reeled, Silicon Valley supplied the tools that made life and work possible. Now tech companies are awash in money — and questions about what it means to win amid so much loss. |
Izabella Kaminska, FT Alphaville Efforts are under way to protect the world's financial networks from a quantum attack. But some question if the threat to crypto assets is really as existential as feared. |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Alex Tabarrok, Marginal Revolution In 1991 on the verge of bankruptcy, India abandoned the License-Raj and freed its economy from many socialist shackles. |
Victor Xing, Enterprising Investor What is driving the surge in inflation and how are central banks misplaying their hand? |
Jemima Kelly, FT Alphaville It's starting to look like a trend. |
Richard Teitelbaum, Institutional Investor Forget pretenders like Bill Ackman and Chamath Palihapitiya. The inscrutable founder of Glazer Capital is mastering the chaos behind Wall Street's latest fad. |
Emily Stewart, Vox Corporations are stepping in to do what should be public sector responsibilities. |
Anne-Laure Le Cunff, Ness Labs Unread books are as powerful as the ones we read. An antilibrary is a private collection of unread books capturing the vastness of the unknown. |
Liz Wolfe, Reason Bezos pitched in by creating an online marketplace of cheap consumer goods that people can get delivered to their homes in two days flat. |
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