09/21/2020 Today
John Tamny, Forbes Consumption doesn't power economic growth; rather it's a consequence of it. Call consumption the harvesting of past economic growth. |
Paul La Monica, CNN The stock market continues to be volatile and the job market is still in worse shape than where it was before Covid-19 plunged the United States into recession. But there is still one undeniable bright spot for America's economy: the housing market. |
Jason Mattera, American Consequences If California were its own sovereign territory, there’s a good chance President Donald Trump would’ve already added it to his list of [bleep]hole countries. From rolling energy blackouts induced by green-energy boondoggles to streets littered with human waste and needles because of lawless homeless encampments… to social justice no-bail policies that release prolific offenders back into communities to reoffend… to artificially inflated costs of living because of inept intervention into labor and housing markets… California has unintentionally... |
Barry Brownstein, American Institute for Economic Research Many days my Facebook feed includes another indignant post from someone who when asked to wear a mask responded by righteously refusing to patronize the business. If it’s about a restaurant, the poster typically includes a tedious recital of a conversation with the manager. The offended customer claims to expose the illogic of being able to sit without a mask but not walk to the table unmasked. Then comes the customer’s triumphant conclusion: The restaurant used to care about my business, but since they no longer do, I will never dine there again. Still worse, offended customers... |
Nicole Gelinas, NYP After six months of being grounded, I miss boring trips: one- or two-night hops to mid-sized American cities and small towns for work. |
James Hohmann, The Hill Lawmakers should permanently halt the business subsidies that were paused because of the pandemic. |
Greg Bensinger, New York Times He says that they are a security threat. If so, it is time to show the world the evidence. |
Robert Robb, USA Today The most important foreign policy issue for the next American president will undoubtedly be relations with China. Unfortunately, neither Donald Trump nor Joe Biden have an approach grounded in reality, with a clear-eyed view of our national interests. Ever since economic reforms were launched by Deng Xiaoping in the late 1980s, the bipartisan consensus was that the best approach to China was engagement. As China grew more prosperous and less insulated, the thinking went, economic liberalization could lead to political liberalization as well. Or, at a minimum, China could be a... |
Whitney Tesi, Slate Many have few alternatives to connect with family and friends in China. |
Bruce Yandle, The Examiner The Trump administration's decision this week to remove the 10% tariff imposed in August on Canadian-produced aluminum, one put in place in spite of the then just-completed U.S.-Mexico-Canada Agreement, may be the result of election-year politicking, fear of Canada's threat to retaliate, or maybe, just maybe, momentary recognition that freedom to trade is more important than tariff revenues collected from the Americans who purchase aluminum products. |
Cliff Asness, AQR Capital Management We have written several pieces on the famous small-firm or size effect, the two most important being our study of the interaction of size and quality and a fairly comprehensive survey of all things size. This note focuses on daily instead of the longer-horizon data studied in these other papers and, while not changing the overall story, this leads to a powerful illustration of what's going on in small stocks. |
John Holt, Applied Finance Capital Applied Finance has calculated Valuations of major indices on a monthly basis since September of 1998. Calculating the Intrinsic Value upside/downside of every company in an index such as the Russell 1000, we can then [...more] |
Market Minder, Fisher Investments Contrary to what headlines portray, we don't think these data reflect a teetering economic recovery. |
Brad McMillan, Commonwealth Financial Network |
Jeffrey Kleintop, Charles Schwab The risk of a "no deal" Brexit and the potential economic harm that accompanies it increased last week. |
Richard Moody, Regions Bank |
Carrie Schwab-Pomerantz, Schwab Has your employer suspended your 401(k) match? That doesn't mean you should stop contributing, says Carrie Schwab-Pomerantz. Here's why. |
Michael Hendrix, Manhattan Institute The Manhattan Institute commissioned the Siena College Research Institute to survey New York City adults earning at least $100,000 a year to understand their views on the future of work and the quality of life in the city and their likelihood of leaving. The poll was conducted during July... |
Morgan Housel, Collaborative Fund Learning from something has two parts: whether it’s important and whether it captures your attention. The number of things that check the first box but not the second are higher than any of us want. |
Bertrand Badre & Aurelie Jean, PS Not only is the COVID-19 pandemic and recession unprecedented in many ways, but so, too, have been the responses by scientific organizations and financial institutions. But, in a climate of deepening public distrust, it is unclear how long these interventions can be sustained. |
John Rekenthaler, Morningstar Security prices aren't moving in the same direction as fund flows. |
Brett Arends, MarketWatch Withdrawing money can cost you long-term, big-time |
Richard Florida, Harvard Business Review Do companies and cities still need each other? |
Michael Pettis, FT Alphaville China still needs to rebalance its economy toward more domestic consumption. |
Erik Schatzker, BusinessWeek We're short about two dozen great innovations. |
Joshua Rauh, The Hill It is time for them to also have some losses. |
James Picerno, Capital Spectator When a central bank announces a formal policy change to lift inflation it’s reasonable to expect that the government bond market would notice. |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
Fisher Investments Editorial Staff, Fisher Investments |
John Cochrane, The Grumpy Economist I am very worried about how the next election will play out. |
Philip K. Verleger, Jr., Niskanen Center The market is responding to climate change. |
Bruce Bawer, City Journal From Jane Fonda to Clara Kraebbe, spoiled rich children find it easy to play at rebellion. |
Ben Hunt, Epsilon Theory Read RBG's "Speaking In A Judicial Voice" |
Adam Grossman, HumbleDollar There's a lot to be said for consistency. |
Adam Clark Estes, Vox The same tech that powers Pokémon Go might make virtual meetings more like real life. |
Tyler Hay, Evergreen Gavekal With the 2020 US Presidential election fast-approaching, many investors are likely wondering how November's election results will shape markets and the economy in the months and years ahead. In this quarter's version of Evergreen Roundtable, we are offering different viewpoints from several members of our investment team on six important questions related to the 2020 US Presidential election. | |
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