07/31/2020
Today Allison Schrager, City Journal The monopolistic power of today's Internet companies is overstated. |
Margaret O'Mara, The New York Times Congress was once filled with "Atari Democrats." This week's hearings showed their transformation into trust busters. |
Dan Savickas, RCM Wednesday on Capitol Hill felt a little like an episode of “Super Friends.” The House Judiciary Subcommittee on Antitrust held a hearing on the market power of tech companies and featured an all-star panel of witnesses. Testifying before the subcommittee were Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Facebook CEO and co-founder Mark Zuckerberg, and Google CEO Sundar Pichai. Sadly, the members of the subcommittee treated this hearing with about as much seriousness as they seem to treat everything else these days: not much at all. Subcommittee chairman Rep. David Cicilline (D-R.I.)... |
Rainer Zitelmann, Examiner Who are you most likely to think deserves to be rich? An elite athlete? An entrepreneur? A pop star? Maybe even a lucky lottery winner? |
Aaron Brown, RealClearMarkets I think for most people, the term “big data” has little specific meaning, it’s just one of those things like “machine learning” and “data science” that mean computers are taking over. A recent paper (Samuel Bray and Bo Wang, “Forecasting unprecedented ecological fluctuations,” PLOS Computational Biology) illustrates the literal meaning. The authors take advantage of recently available “big data” biological datasets—ecological systems sampled at high frequency over long periods of time—to “tackle the grand... |
Brett Arends, MarketWatch Employers seize on slumps to purge more expensive, more experienced workers, study warns |
Andrew Wilford, RCM The Senate Republican Phase Four legislation, the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act includes many positive proposals. In its legislative package, the Senate included tax relief for remote workers and volunteers facing tax assessments in multiple states, expanded the scope of the Employee Retention Tax Credit, and provided for a fiscally responsible review of America’s trust funds. Yet at the same time, the $1.1 trillion legislation includes wasteful spending proposals that make the HEALS Act less taxpayer-friendly than it could... |
Ryan Cooper, Week Official site of The Week Magazine, offering commentary and analysis of the day's breaking news and current events as well as arts, entertainment, people and gossip, and political cartoons. |
Ethan Yang, American Institute for Economic Research |
Rep. Tim Burchett, The Hill This next COVID-19 package is a tremendous opportunity to get the country back on track. Congress needs to focus on getting our nation back to work and deliver for the American people. |
Jordan Weissmann, Slate Health care alone accounted for 26 percent of the plunge in economic activity. |
Market Minder, Fisher Investments US and German results didn't catch stocks off guard. |
Jerry Bowyer, Vident Financial |
Liz Ann Sonders, Charles Schwab The Fed left rates unchanged near-zero, as expected, while emphasizing that "the path of the economy will depend significantly on the course of the virus." |
Brad McMillan, Commonwealth Financial Network |
Brian Wesbury & Robert Stein, First Trust Advisors |
Jerry Bowyer, Vident Financial The data below from the Bureau of Labor Statistics show which sectors have the highest and lowest unemployment rates. As of this writing, overall unemployment is an uncomfortably high 11.2%, but that's for all sectors combined. When you break out the different sectors, you see that this can range from almost 40% in leisure and hospitality to about 10% and under for construction, manufacturing, education and health. |
Brian Wesbury & Robert Stein, First Trust Advisors |
Jeffrey Buchbinder, LPL Financial Market Blog "That's not a knife ? that's a knife!" Paul Hogan in Crocodile Dundee |
Brett Arends, MarketWatch Bulletproof investing could be back in style |
Ben Hunt, Epsilon Theory Our political and market worlds have become an unending sea of grift … small cons, big cons, short cons, long cons … and every day the distinction between grifters and squares becomes more and more blurred. |
Jacob Soll, Politico We may be getting some of the most positive lessons of plagues wrong. |
Shirin Ghaffary & Jason Del Rey, Vox The heads of Amazon, Apple, Facebook, and Google fielded questions from members of Congress, some better than others. |
Seth Stern, The Christian Science Monitor Two new books take stock of the American market, and what they find isn't good: Monopolies control industries like meat, technology, and more. |
Jaimy Lee, MarketWatch Dr. Michael Osterholm, epidemiologist at the University of Minnesota, recognized the coronavirus would become a pandemic as early as January |
Joel Kotkin, City Journal Leaders offer platitudes and counterproductive policies rather than opportunities and better living standards for the state's minorities. |
Ironman, Political Calculations The Fed has blown a new bubble in stocks. |
Morgan Housel, Collaborative Fund What falling cats can teach us about risk. |
Jack Forehand, Guru Investor Valuing companies can be a challenging process. |
Nouriel Roubini, Project Syndicate At the start of the year, when COVID-19 was barely on anyone's radar outside of China, the global economy was entering a fraught phase, facing a range of potentially devastating tail risks. And though the pandemic has since turned the world on its head, all of these threats remain â?" and some have become more salient. |
Peter Kafka, Vox The heads of Apple, Facebook, Google, and Amazon are going to get grilled. But that won’t lead — directly — to regulation. |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Grant Suneson, 24/7 Wall Street As a result of the COVID-19 pandemic, many people have relocated out of large urban areas — either to try to avoid contracting the virus or because the resulting economic fallout cost them their job. While population statistics are not yet available for 2020, plummeting rental prices in many of America’s largest population centers indicate significant population losses. |
Veronique de Rugy, Reason The negative impact of the program is well documented. |
Catie Keck, Gizmodo Amazon pays just half Apple's regular app store fee. |
Barry Ritholtz, The Big Picture The Midwest is not the place of rusting cities and reactionary farmers of popular imagination. |
Scott Sumner, Econlog Why give $1200 to middle class people with stable jobs who were actually benefiting from a decline in the cost of living? |
Ludwig von Mises, Mises Institute he nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. |
Dario Perkins, TS Lombard The worst kept secret in macro is that economists don’t really understand inflation. |
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