10/30/2021
Today

President Biden Needs to Understand, Inflation Is Real

Heidi Heitkamp, CNBC

That is a political reality President Joe Biden and Democrats need to acknowledge as they try to advance his agenda, writes Heidi Heitkamp.

People Are Quitting in Droves. It's a Good Thing.

Jacob Rosenberg, Mother Jones

There are "very few things that help manifest a healthy market economy" more than quits, one economist tells me.

Worker Bargaining Power No Match for High Inflation

Furman & Powell III, PIIE

Over the last three months, US nominal compensation, wages and benefits not adjusted for inflation, rose at a rapid 5.4 percent annual rate for all civilian workers—leaving it 0.6 percent above its pre-pandemic trend, according to newly released Employment Cost Index (ECI) data from the

Bidenomics Is Actually Slowing the U.S. Economy

Editorial Board, New York Post

"Help is here, and hope is on the way," President Joe Biden promised March 25, touting his just-passed $1.9 trillion "American rescue" plan.

How Biden's Latest Plan to Tax Superrich Works

Andrew Keshner, MarketWatch

Surtaxes on multi-millionaires would help generate $230 billion in revenue, according to the White House

Don't Blame America's Wealthy. Blame the Game.

Zachary Karabell, Foreign Policy

A Trump administration tax law was supposed to spur investment in disadvantaged communities. It didn't work that way.

Why Do Americans Look at Taxes as Punishment?

Noah Millman, The Week

Taxes should benefit the many, not punish the few

Supply-Chain Shortages Are a Symptom

Seth Berenzweig & John Tamny, Capitol Brief

Seth Berenzweig and John Tamny

Rethink Trade to Solve Supply Chain Crisis

Sen. Josh Hawley, New York Times

The pandemic has exposed problems decades in the making. We need to fix them.

House Republicans, Reject the Infrastructure Deal

Editorial, National Review

It is bad on the merits, and there is no reason the GOP should help Democrats out of a jam.

America Should Promote Economic Freedom at COP26

Rep. Curtis & Bond, Hill

America, and the world's, best hope is to reject the advice of central planners and regulatory minders, and to fully embrace the proven principles of economic freedom that lead to innovation.

G-20 Needs 'Sputnik Moment' on Global Economy

Mohamed El-Erian, Bloomberg

The Surprising Dividends of Transformed Investing

Dave Goetsch, Equius Partners

I've been working in sitcom writing rooms for the past 25 years, and one of the most discussed, and least understood, topics is investing. To be in one of those rooms means that you have already beaten odds. In success, the financial benefits can be fast and huge (Google "writer" plus "nine figure deal"), but in failure, the financial misfortune can come even faster and be even more extreme.

Will Services Offset Weakness in Manufacturing?

Jeffrey Kleintop, Charles Schwab

Services make up more of the economy, jobs, and the stock market. The time has come to focus on services data to get a sense of the overall economic picture.

Wounds That Never Heal

Asset Allocation Team, GMO

Bubbles inflict deep and cruel wounds that can last for decades, which is why we believe it is prudent to avoid them, exploit them, or dance around them as best we can.

Comparing Inflation Hedges Among Asset Classes

Jerry Bowyer, Vident Financial

Let's zoom in and look at some indices during periods of high and low inflation.

Slower Growth In Third Quarter

Brian Wesbury & Robert Stein, First Trust Advisors

New Home Sales: Don't Get Too Attached to Headline

Richard Moody, Regions

ECB Meeting Will Be a Preview of FOMC

Richard Moody, Regions Bank

Tax the Rich!

Peter Singer, Project Syndicate

The opening of the global economy over the past 30 years enriched multinational corporations, which have been able to shift profits to wherever the corporate tax rate is lowest. The G20 can take one step toward remedying that by accepting the proposed 15% minimum rate, but it should go much further.

Are Billionaires Best At Spending Their Money?

Emily Stewart, Vox

Are billionaires best at deciding what to do with money?

With High Income Funds, Don't Believe Your Eyes

John Rekenthaler, Morningstar

There's always a catch.

Property Rights Are Human Rights

Steven Greenhut, Reason

The land was taken in 1924 in order to kick a black family out of Manhattan Beach, California.

Are Women Better Investors? Let Me Mansplain

Ron Lieber, New York Times

Overconfidence is bad, and women are less likely to fall victim to it.

The Art World's Most Wanted Man

Nate Freeman, Vanity Fair

Not so long ago, Christian Rosa was a buzzy young artist on the rise. Now he's facing a series of charges related to alleged forgeries and on the run from the FBI. How did it come to this?

Slower S&P 500 Earnings Growth Is Not Bullish

Mark Hulbert, MarketWatch

Faster earnings growth generates higher stock market returns --- just as you'd expect.

The True Costs of Government Spending

Michael J. Boskin, Project Syndicate

While all politicians exaggerate, US President Joe Biden's claim that his proposed $3.5 trillion spending package "costs zero dollars" rises to a higher plane, and Americans aren't buying it. Even if the legislation was fully covered by tax increases, the costs for the economy would be significant.

Stop The Disrespect

Joshua M Brown, The Reformed Broker

They don't teach this in school.

The Entitled Generation Enters The Workforce

Emma Goldberg, New York Times

Twenty-somethings rolling their eyes at the habits of their elders is a longstanding trend, but many employers said there's a new boldness in the way Gen Z dictates taste.

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

Opposite George

Doomberg, Doomberg

America is going to learn to build stuff again.

Transitory Inflation Outlook Remains Challenged

James Picerno, Capital Spectator

It's premature to rule out the possibility that US inflation will peak in the months ahead, but recent projections that the peaking is imminent and will reflect a sharp decline in pricing pressure now looks unlikely.

A Macroeconomics Lesson From Microsoft

Jamie Powell, Financial Times

Corporate profit margins as a source of demand.

The Vox Formula

Batya Ungar-Sargon, Quillette

Telling privileged people what they already believe.

On The Slippery Slope To Socialism

Veronique de Rugy, Reason

Biden's nominee for Comptroller of the Currency wants to end banking as we know it.

Jobs People Want — And Don't Want — Post COVID

Erica Pandey, Axios

Clicks on Indeed to apply for food service jobs are down 18%.

Risking, Fast and Slow

Nick Maggiulli, Of Dollars And Data

On the difference between fast risk and slow risk and why one is more overlooked in investing and in life.
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