04/26/2021
Today Andrew Wilford, RealClearMarkets Just over three months into his presidency, Joe Biden has been nothing if not active. Fresh off proposing two bills that could end up costing taxpayers $5 trillion over the next decade, the President is now proposing yet another $1.5 trillion spending package. This plan, intended to fund expanded childcare and education initiatives, would include huge tax hikes that would act as yet another sucker punch to a still-rebounding economy. About the only tax increases the President hasn't supported thus far arewealth taxes and financial transaction taxes. But just because the tax hikes in this... |
Michael Hiltzik, Los Angeles Times Wealthy Americans know the capital gains tax is their biggest loophole — and they won't give it up easily. |
Market Minder, Fisher To the extent anyone would actually pay it, nearly doubling capital gains taxes for 0.3% of US taxpayers is not a giant sucking sound for stocks. |
Gary Marshall, RCM As some may know, I argue for a much greater focus on borrowing as a way to fund governmental functions. Taxation and borrowing are the ways in which a government lacking resources pays for its functions, but taxation is the most destructive and iniquitous instrument in any economy. An article recently appeared titled ‘r |
Steve Malanga, CJ Market-driven innovation is providing new outlets for free expression in an increasingly intolerant media environment. |
Harold Furchtgott-Roth & Kirk Arner, RCM Does the phrase "permanent injunction" actually mean "monetary damages?" No, it doesn't. The Supreme Court unanimously ruled as much in a recent victory for both the rule of law and the English language. The case before the Court involved §13(b) of the Federal Trade Commission Act. For decades, the FTC relied upon this section, which by its text empowers it to seek permanent injunctions against accused parties, to also seek monetary damages against them—a power that the section does not explicitly grant. Doing so allowed the FTC to skirt administrative procedural protections for... |
Nicholas Kerr, Washington Examiner It's one thing for business leaders to sit out policy debates, but it's quite another for them to argue for policies that will harm long-term shareholder interests. |
John Tamny, Forbes Left and right arguably contradict past stances on corporate speak as is, at which point it's arguable that there's a powerful capitalistic motive underneath the embrace of snowflake 'woke.' |
Jeff Sommer, New York Times The economy and the stock market have churned out spectacular numbers, and investor optimism is high. But don't forget to hedge your bets. |
Maria Korsnick, Hill A focus on climate change provides clarity on the challenges we are facing and the opportunities to overcome them. With this renewed purpose, we must reconsider the role of nuclear energy. |
Paul La Monica, CNN If this is a new Roaring Twenties for stocks and the economy, do we need to worry about how the 1920s ended? |
Trish Regan, American Consequences Crypto may provide a refuge for investors -- but the $50,000 question remains: does bitcoin remain gold 2.0 or become our go-to currency? |
Liz Ann Sonders, Charles Schwab Although earnings season has a ways to go, the results have been strong enough to significantly boost growth expectations, while also easing some valuation concerns. |
Michael Aked, Research Affiliates Factor timing is the ability to add value to an investment strategy by altering the exposure to various factors through time. Our analysis shows that a factor-timing strategy based on a factor's discount (or valuation) and momentum yields the most robust outcomes. |
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. |
Anu Gaggar, Commonwealth Who will be the winners (and losers) of the American Jobs Plan? Commonwealth's Anu Gaggar makes her picks. |
Carrie Schwab-Pomerantz, Schwab The American Rescue Plan Act includes much more than stimulus payments, especially if your children are minors. |
Market Minder, Fisher What the latest Chinese economic data reveal about what lies ahead. |
Preston Caldwell, Morningstar We've increased our U.S. GDP growth forecast. |
Jeff Sommer, New York Times The economy and the stock market have churned out spectacular numbers, and investor optimism is high. But don't forget to hedge your bets. |
Stephen S. Roach, Project Syndicate There were three seemingly strong reasons to predict last year that the US economy was headed for a double-dip recession. In the end, a confluence of three other reasons explains why that prediction turned out to be spectacularly wrong. |
Eric Boehm, Reason A Connecticut company got a $138 million government contract in order to break America's supposed "dependence" on foreign-made syringes. It has yet to produce even a single one. |
Allison Schrager, City Journal Doubling the tax rate will burden all Americans, not just the wealthy. |
Julia Horowitz, CNN Investors who back upstart companies are known for their optimism. But when it comes to the wall of money pouring into clean energy, their enthusiasm is tinged with concern. |
Christine Benz, Morningstar And when we should expect any changes. |
Elizabeth Kolbert, The New Yorker Cryptocurrency mining uses huge amounts of power—and can be as destructive as the real thing. |
Jemima Kelly, FT Alphaville Imagine bitcoin has no environmental problem — it's easy if you try. |
Nicolas Rabener, CFA Institute Shouldn't all the recent monetary and fiscal stimulus lead to higher inflation? Maybe not. |
Breeanna Hare, CNN Whether on a smaller scale, or superlatively large like financier Bernie Madoff's, Ponzi schemes are unnervingly and increasingly common. Here's a look at eight of the most notorious Ponzi schemes in US history. |
Morgan Housel, Collaborative Fund From pure optimist to pure pessimist. |
Jordan Weissmann, Slate The marijuana movement has never been closer to its goal. What happens next? |
Mark Hulbert, MarketWatch Believe it or not, worry about a bubble is widespread at the top of a bubble |
Nathan Robinson, Current Affairs Speculators might make money on it, but the arguments for its usefulness fail completely. |
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... |
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