05/13/2020
Today

While C-19 Kills the Old, Panic Is Doing In Children

Michael Fumento, Issues & Insights

We're living in Orwellian times, certainly.

For Those With the Least, the Pandemic Means Hunger

Charles Blow, New York Times

Empty stomachs can lead to a dangerous desperation.

20% Unemployment Is Destructive, But Creative?

Kevin Williamson, National Review

Unemployment north of 20 percent is going to be very hard on the unemployed. But it is going to be hard on everybody else, too.

Why Is Obvious, Lifesaving Path So Very Elusive to So Many?

Steve Trost, OSU

In 1921, Professor Frank Knight (an economist at the University of Chicago) published his most famous work, Risk, Uncertainty and Profit , ...

Safe International Travel Essential to Recovery

Noel Irwin Hentschel, RealClearMarkets

There's a big part missing from plans to restart the economy: a framework for resuming international travel. Without this, we're leaving significant recovery resources on the table for...

Right Follows Trump In Believing C-19 Worst Is Over

Ed Kilgore, New York Magazine

For a while Republicans were nearly as worried as Democrats about the coronavirus pandemic. But now that Trump is upbeat about the worst being over, so are his followers, though it's unclear how many twists and turns voters will accept.

Non-Profit Groups, the '1 Percent,' and the PPP

Adam Brandon & Parissa Sedghi, RCM

Every movement, whether cultural, educational or political, has rich patrons. There's no getting around this truth. Just as there are no companies and no jobs without the unspent wealth of the...

Wall Street Has Very Little Do With Life On Main Street

Matt Phillips, New York Times

The two have been intertwined in the American psyche since the 1929 stock crash and the onset of the Great Depression. But stocks are not a reliable gauge of overall economic health.

Main Street Would Be Very Dreary Without Wall Street

John Tamny, RealClearMarkets

No one buys goods or services with money, nor does anyone save or invest "money." Counterintuitive as the latter sounds, it's a basic truth. Sadly, it's one that few...

Don't Count On a Spectacular 2020 Economic Recovery

Paul Brandus, USA Today

Some people think the Great Depression, which began in 1929 during the presidency of Herbert Hoover, ended shortly after Franklin D. Roosevelt replaced him in 1933. Not so. It went on and on and on — and on. As late as January 1941, the unemployment rate was still 10.5%. That is useful context as we consider our current plunge into the abyss, which has now consumed about one-fifth of the U.S. labor force in seven shattering weeks.

Economic Wellbeing Matters, & Should Factor in Reopen

Noah Williams, City Journal

Policymakers should move toward a phased-in, regional approach to re-openingsâ?"and pay attention not only to infections but also unemployment.

Don't Buy Musk's Latest Ego-Driven Marketing Ploy

Maureen Callahan, New York Post

Elon Musk wants us to believe he's a warrior for our liberty and our rights, not an overleveraged Silicon Valley billionaire who, like the smallest of us, may be totally undone by a virus that cares not about who you are.

Valuation Investing During Financial Crises, Recoveries

John Holt, Applied Finance

Over the past 25 years, Applied Finance has studied market patterns and trends using millions of Valuations. The firm's live database goes back to 1998, with further data starting from the early 1990's. The two [...more]

Roth vs. IRAs: Which Is Right for Your Retirement?

Rob Williams, Charles Schwab

Important distinctions exist between traditional and Roth IRAs, including eligibility and contribution limits. Here's a guide to help you decide what's best for you.

S&P 3,100, DJIA 27,570

Brian Wesbury & Robert Stein, First Trust Advisors

Forget About the Shape, Try to Define 'Recovery'

Richard Moody, Regions Bank

Helping You to Make Sense of Your Tax Refund

Hayden Adams, Charles Schwab

Was your tax refund smaller than in previous years? Did you owe more than usual? Here's why.

Years of Progress Erased In a Single Month

Richard Moody, Regions Bank

Bear and Bull Both Running at Full Speed

Liz Ann Sonders, Charles Schwab

Both the bear market and subsequent rally have occurred at warp speed; yet the economic recovery may be disappointing to what the market's now "priced in."

Investors Are Closer to Despair Amid Breathtaking Rally

Mark Hulbert, MarketWatch

Most sentiment gauges are pessimistic, which is bullish for stock prices â?Â" to a point

The Magnitude of the Econ Challenge Even In Normal Times

Don Boudreaux, AIER

Sometimes simple arithmetic reveals realities that are both astonishing and astonishingly important. Such is the case for the arithmetic performed by this little button on every scientific calculator – including, no doubt, on the calculator you have on your smartphone: x!

This Simple Action Will Fix a Looming Nightmare Care of PPP

Gene Marks, The Hill

Just a small tweak to the eight-week forgiveness period would put the program back on course to reach its goals.

Economically Vulnerable Need End to Shutdowns

Andrew Afifian, Washington Examiner

It should come as no surprise that the coronavirus pandemic is taking a larger economic toll on our most vulnerable populations. A 2016 study by Pew Research Center found that at $17,100, the median net worth of black households was less than one-fifth that of all U.S. households ($97,300), meaning they have much less in savings, if any, to rely on before being unable to pay for necessities.

Internet Providers Are Handling Covid-19 Just Fine

Douglas Holtz-Eakin, USA Today

Two years ago, the Federal Communications Commission repealed “network neutrality.” Many forecast disaster as a result, predicting the rise of miserly internet providers and throttled access. But the pandemic has decisively proved these predictions wrong. The internet has performed admirably despite unprecedented demand — a testament to the wisdom of the United States’ light regulatory approach.

Feds & States: More Shutdown Powerless Thank You Think

Eric Boehm, Reason

Officials in six Pennsylvania counties say they will allow businesses to reopen without permission from the state government. Expect more of that.

10-4: A Phased Economic Reopening

Uri Alon & Ron Milo & Eran Yashiv, New York Times

People can work in two-week cycles, on the job for four days then, by the time they might become infectious, 10 days at home in lockdown.

Is There Penalty for Those Who Fan Flames of C19 Hysteria?

Michael Fumento, JTN

Robert Redfield takes dire view of scope of coronavirus, but it helps to know he was a driving force behind AIDS hysteria of the '80s and '90s.

Everything You Know About Growth and Value Will Flip

Mark Hulbert, MarketWatch

Skilled active investment managers now have a huge opportunity to add value

How Coronavirus Exposes America's Broken Safety Net

John H. Jackson, The Hill

The COVID-19 pandemic has exposed the wide opportunity gaps for low-income families and communities of color.

Friedrich Hayek Was a Prodigious Barrier to Tyranny

Gary Galles, Issues & Insights

The Austrian economist's insights into liberty are particularly worth noting.

NY Leaders Are In Denial About Post-Covid Fiscal Situation

Editorial, New York Post

New York City and the state are looking at huge drops in tax revenues thanks to the coronavirus â?" and neither Mayor Bill de Blasio nor Gov. Andrew Cuomo seem to have any good ideas about what to do beyond hoping for a federal bailout.

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

Will Uncle Sam Force Big Tech to Break Up?

Fisher Investments Editorial Staff, Fisher Investments

Shattering the Debt Ceiling Myth

Fisher Investments Editorial Staff, Fisher Investments

Uncertainty

Howard Marks, Oaktree Capital Management

All we don't know...

The Politics Of Supply Chain Management

Gary Evans & Jon Custer, Custer Consulting

You might want to wait until after the election to make any big decisions about your supply chain.

Navigating De-Globalization

Mohamed El-Erian, Project Syndicate

Appeals to recommit to globalization are highly unlikely to gain traction in the wake of the COVID-19 pandemic. Those keen to preserve globalization would instead be better advised to focus on minimizing the disruption caused by the coming period of deglobalization and laying the groundwork for a more sustainable process thereafter.

Young Investors Pile Into Stocks

Maggie Fitzgerald, CNBC

The major online brokers saw a major jump in new users during the coronavirus sell-off, many of who were of a younger cohort.

Will The Largest Company Stocks Keep Winning?

John Rekenthaler, Morningstar

Clues from the largest-company lists.

Your Home Office Is a Hacker's Paradise

Alicia McElhaney, Institutional Investor

Kids, anxiety, and distance from colleagues make investors ultra-vulnerable.

Here Come The Crony Capitalists

Joseph Y Calhoun III, RealClearMarkets

There is a new threat to the US economy emerging in the wake of the COVID-19 outbreak. It is every bit as virulent as COVID and possibly even more economically damaging than the shutdowns it...
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