09/07/2021
Today

Reforms to Avoid the Next Housing Bust –

Alex Pollock & Edward Pinto, Law & Liberty

Alex J. Pollock and Edward J. Pinto propose reforms in the U.S. housing policy to avoid the housing and financial crises of the past.

Deficit Fears Are Baloney, & Always Have Been

Michael Hiltzik, Los Angeles Times

Deficit hawks are trying to undermine federal spending, and they're still wrong.

IRS Advice Harmful to Small Business Owners w/Families

Andrew Wilford, RCM

Most IRS guidance documents make for poor pleasure reading. Then again, most IRS guidance doesn't effectively impose a retroactive tax on small business owners merely for having a family. IRS Notice 2021-49, issued on August 4, includes a bizarre interpretation of the law that will effectively raise taxes for business owners with close relatives, even if their family members have no involvement in the company. A core goal of the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed early on in the pandemic was to assist businesses in keeping employees on their payroll even as they...

Gensler's Battle w/Robinhood Could Be Bloody

Charles Gasparino, New York Post

There could be a lot of fighting between SEC Chair Gary Gensler and the popular stock trading app Robinhood. That battle could get really ugly, writes Charles Gasparino.

John Paulson's Faulty BTC Call Is Opportunity

Eric Wade, American Consequences

John Paulson – hedge-fund billionaire who made a killing during the Great Recession claims bitcoin has no value. We're here to call his bluff.

The Debate We Should Be Having About the Fed

Vivekanand Jayakumar, The Hill

Looking beyond the Fed Chair selection debate, there are three critical issues that should be of grave concern for policymakers.

Does Weaker-Than-Expected 'Jobless' Signal Trouble Ahead?

Market Minder, FI

Do August's weaker-than-forecast hiring numbers mean trouble ahead?

It's Time for U.S. to Rethink 5-Day Workweek

Dave Seminara, Washington Examiner

Sixty-five years ago this month, President Richard Nixon made front-page news predicting that America was moving toward a four-day workweek. We're nowhere near Nixon's goal — and even further from John Maynard Keynes's 1928 prediction that we'd all be working 15-hour weeks by 2028. But with record…

We've Been Radically Underestimating Costly C02 Footprint

Sigal Samuel, Vox

The Biden administration needs to factor in climate change's cost in human lives — and what we owe to future generations.

Other People's Awful Jobs Are Bad for Them. And For You.

Terri Gerstein, NYT

The impact of rotten jobs radiates far beyond the workplace.

Don't Let Social Security Surprises Ruin Retirement

Christy Bieber, Motley Fool

Remember, Social Security only replaces 40% of your pre-retirement income. You could be left with too little money if you don't prepare yourself.

Hong Kong's Banks Brace for 'Cold War' Surge

Michelle Toh & Kristie Lu Stout, CNN

Banks in Hong Kong are increasingly being squeezed by a series of changes forcing them to fall in line with Beijing's agenda.

Cities With Highest Mortgage Approval Rates

Jon Jones, Smartest Dollar

Mortgage loan approval rates vary according to several factors including location. Researchers ranked metros by mortgage loan approval rates in 2020.

A Bet That Jobs Report Spoils Tapering Announcement

Pat O'Hare, Briefing.com

Can Investors Avoid Rising Supply Chain Risks?

Jeffrey Kleintop, Charles Schwab

Supply chain issues are worsening, increasing the risk to sales, production, and inflation. European stocks may offer an opportunity to avoid these risks.

Dividends by the Numbers in August 2021

Ironman, Political Calculations

August 2021 was another strong month for dividend paying firms in the U.S. stock market.

Fed Policy Supports The Cyclical Rotation

Bryce Coward, Knowledge Leaders

Today at the annual Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell reiterated that the Fed is in no hurry to either taper asset purchases immediately or aggressively.

Common-Sense Policy Reforms for California Housing

Lee Ohanian, Cato

A few ideas to enhance affordability.

Will Biden Make a Historic Mistake at the Fed?

J. Bradford DeLong, PS

The past 30 years should have taught Democrats to put their own economic policy priorities before symbolic gestures of "bipartisanship." If US President Joe Biden does not replace Federal Reserve Chair Jerome Powell with Lael Brainard, he will almost certainly regret it.

Why Investors Are Shrugging Off A Lousy Jobs Report

Paul R. La Monica, CNN

The August jobs report was a massive disappointment, with Corporate America hiring far fewer people than expected. But investors largely shrugged off the weaker jobs gains.

What Hurricane Ida Says About America's Future

Daniel A. Gross, Vox

The history of hurricanes like Katrina and Ida says a lot about America's future.

6 Retail Stocks on Sale

Jakir Hossain, Morningstar

Retailers posted solid numbers this earnings season, but we think their stocks are, in general, overbought--with some exceptions.

How Urban Employers Adapt To Work From Home

Eduardo Porter, NY Times

Offices are unlikely to be as full after the pandemic as they were before. Service businesses and their employees will have to adapt.

Bernard Baruch's Biggest Mistake

Jon Petersen, Novel Investor

Bernard Baruch's biggest mistake came early in his career. It was his quickest and largest loss ever and provided a lasting lesson.

The $150 Million Machine Keeping Moore's Law Alive

Will Knight, Wired

ASML's next-generation extreme ultraviolet lithography machines achieve previously unattainable levels of precision, which means chips can keep shrinking for years to come.

2020 Was Almost Worse Than 2008

SoLightSolar, Southern Light Solar

In a crisis like the one that hit the world in March 2020, only one thing will restore confidence: limitless cash. An excerpt from Shutdown: How Covid Shook the World's Economy.

Gentrify This. Please.

Jerusalem Demsas, Vox

The worst problems are in the neighborhoods that aren't gentrifying.

Everything Is Infrastructure Now

Eric Boehm, Reason

How spending got out of control and words lost their meaning.

How The Big Short Turned Into Big Long

Ben Carlson, A Wealth Of Common Sense

Optimism sells today.

Richard Branson's Wild Ride

Nicholas Schmidle, The New Yorker

The F.A.A. is investigating the ship's off-course descent.

Worry About Yourself

J.C. Parets, All Star Charts

Somewhere along the way I think people forgot that we're only in the market to make money. This is a very selfish endeavor. Who cares what other people are doing with their investments? Why should it matter to me that someone else may or may not be trading recklessly in the NFT space?

Private Equity's Build Back Better Payday

David Dayen, The American Prospect

Hundreds of billions of dollars are scheduled for industries private equity dominates. Advocates want to make sure workers and families benefit, not financiers.
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