10/28/2021
Today

The New Billionaire Tax Is Inefficient & Dangerous

Aswath Damodaran, City Journal

Congress has an amazing capacity to write bad tax legislation, but this proposal sets a new standard.

Joe Manchin Is Murdering Dems' Cutting Edge Tax Plan

Jordan Weissmann, Slate

Somewhere, Elon Musk and Jeff Bezos say "phew."

U.S. Wealth Tax Would Force Wealth Out of the U.S.

John Tamny, RealClearMarkets

In Amazon's first twenty years as a public company, its stock went on a wild ride. During seventeen of those twenty years, Amazon's shares corrected downward to the tune of 20% at least once a year. Please think about the volatility of Amazon in concert with the recent wealth-tax proposal rolled out by Oregon Sen. Ron Wyden, but that is really the brainchild of Bernie Sanders and our 46th president, Joe Biden. Wyden, Sanders and Biden would like to see billionaire wealth annually taxed at the long-term capital gains rate of 20%. This tax would fall on unrealized capital gains. Please stop and...

German 'Ordos' Have Useful Central Bank Reforms

Samuel Gregg, Law & Liberty

Samuel Gregg proposes to reform central banks by looking at Germany's Ordo-Liberalism as a model to prevent political interference.

How New Regs Could Lead To a Blockchain Brain Drain

Matt Sandgren, The Hill

Will Washington's leaders stifle that spirit to the detriment of our economy and our reputation as a global leader in innovation? Or will they nourish that spirit to usher in the next chapter of the digital revolution?

A Call for Western Nations to Pair Econ. With Immigration

Reuven Brenner, RCM

Suppose some 1 million people are expected to come through the Southern border for a year. It costs $30K per year, on average, to incarcerate individuals, and it may cost that amount to take care of each illegal immigrant per year - until their status settled, kids offered schooling, health care, and until some find a job. For those not employed, there would be years of welfare, education and health-related costs etc. as there is no evidence that these migrants are technicians, engineers or scientists, or people expected to have high compensations.

Diversifying Assets With Offshore Accounts Is Very Necessary

Kim Iskyan, AC

Deft investing is not just about diversification of your portfolio but your banking as well – here's how to onboard offshore banking.

Timeless Lessons As Stock Round Trip to Highs

Market Minder, Fisher Investments

And we celebrate with two timeless lessons.

What Are Peter Thiel's Fans & Followers Looking For?

Anna Wiener, New Yorker

The billionaire venture capitalist has fans and followers. What are they looking for?

Congress Must Address Causes of Housing Crisis

Jim Parrott & Mark Zandi, CNN

The nation faces a dramatic housing shortage, sending home prices and rents through the roof all over the country. The spike in housing costs is making it harder for some to buy their first home and for others to afford their rent, increasing demand for subsidized housing and widening the wealth gap between renters and homeowners. It is also forcing more families to live farther from jobs, increasing commute times, undermining labor force participation and slowing economic growth.

Why Congress Isn't Going to Save the Housing Market

Jerusalem Demsas, Vox

Build Back Better doesn't build enough.

Why Fixing Facebook Rashly Could Make It Worse

Farhad Manjoo, New York Times

Lawmakers should proceed cautiously when altering the rules governing the internet.

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

The Elements of a Smart Trade Plan

Lee Bohl, Charles Schwab

Find out why you should have a trade plan—and the five elements that may help you put it to work successfully.

Indexes That Do Well When Inflation Is High

Jerry Bowyer, Vident Financial

High inflation doesn't just raise prices; it raises an important question for investors: Which investments historically tend to do relatively well during periods of elevated inflation?

Dan Ferris Is of the View That Stocks Are Wildly Overvalued

Laura Greaver, AC

Stansberry's financial experts' take-home investing insight rings contrary to most Vegas gamblers: put your money on the table and walk away.

Facebook Papers May Be Biggest Crisis In Company History

Clare Duffy, CNN

Facebook has confronted whistleblowers, PR firestorms and Congressional inquiries in recent years. But now it faces a combination of all three at once in what could be the most intense and wide-ranging crisis in the company's 17-year history.

Fix Immigration And We Can Fix The Labor Shortage

Nicole Narea, Vox

The US has more jobs than it can fill. Fixing the immigration system could boost the economy.

Employers Are Quietly Replacing Employees With Robots

Gene Marks, The Hill

Businesses don't like to talk about how they're eliminating employees with automation. But it's happening.

Democrats Are Rushing to Pass Radical Taxation Schemes

Chris Edwards, Cato

In their haste to pass massive spending bills and clobber the rich, the Democrats are floating some radical tax schemes. The latest far‐​out idea is to tax capital gains even before gains are realized. No other country in the OECD taxes capital gains in such an aggressive manner.

A Movement Successfully Depriving Fossil Fuels of Funds

Bill McKibben, NYT

The divestment campaign has taken much of the shine off what was once the planet's dominant industry.

Clean Energy Has Won the Economic Race

Jules Kortenhorst, Project Syndicate

For decades, spectacularly inaccurate forecasts have underestimated the potential of clean energy, buying time for the fossil-fuel industry. But as two new analyses from authoritative institutions show, renewables have already convinced the market and are now poised for exponential growth.

Renewable Energy As Path to Cleaner Environment: Very Big Lie

Editorial, I & I

We're not sure there's a bigger lie out there than the one that says renewable energy is the path to a cleaner environment.

Wall Street Doesn't Care About FB Leaks. Zuckerberg Does.

Shirin Ghaffary, Vox

Facebook's numbers are doing fine for now — but not its reputation.

Bitcoin Comes of Age: The Meaning of Its Place

Jay Caspian Kang, New York Times

What does it mean now that cryptocurrency has joined proper society?

Biden's Failures Summon Return Of Misery Index

Lewis Uhler & Joseph Yocca, I&I

Biden's combination of higher unemployment and inflation is reminiscent of 1970s-era 'malaise.'

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

A Global Oil Shortage Is Inevitable

Tsvetana Paraskova, OilPrice.com

Oil companies are under increasing pressure to curb production, but stopping supply will only aggravate the energy problems facing the world today and drive oil prices higher

Are We Living The 1970s All Over Again?

Robin Powell, TEBI

Some economists are warning that we're heading for 1970s-style "stagflation" — a combination of economic stagnation and rising living costs. Are they right?

I Quit Is All The Rage. Blip or Sea Change?

Christina Pazzanese, Harvard Gazette

Lawrence Katz answers questions about the historic wave of workers quitting their jobs during the pandemic.

How Not To Apply For A Job

John Hempton, Bronte Capital

A finance student tried to pitch me on a short idea to get an internship.

Internal vs. External Benchmarks

Morgan Housel, Collaborative Fund

There are two ways to measure how you're doing: Against yourself and against others. Internal vs. external benchmarks.

10 Scary Stocks: 2021 Edition

Susan Dziubinski, Morningstar

These are the most overpriced stocks in our coverage universe today.

Popular Progressive Policies Ruined Venezuela

John Stossel, Reason

The idea that massive government spending, hate speech laws, and gun control will improve America—when they failed horribly elsewhere—is a dangerous myth.
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