09/28/2021
Today
Prasad Krishnamurthy, The Hill Today's economic mobility numbers give us a glimpse into a possibly dystopian future, one with wide and permanent economic inequality. |
David Harsanyi, National Review The fact that an elected official could believe the U.S. had anywhere near the highest poverty rate in the world tells us a lot about the progressive mindset. |
Steven Kamin, RCM Would you lend money to someone who told you: "I'm going to keep on borrowing until my debt reaches X dollars, and then I'm going to default?" I don't think so. But that's what the U.S. government has been doing, year in and year out, and yet there has been no shortage of people willing to buy U.S. Treasuries. As long as Congress periodically raises the debt ceiling, this arcane rule—which is shared by very few other countries in the world—need not sully the Treasury bonds' promise as the world's safest and most liquid asset. And the world's investors know that Congress will certainly... |
Michael Strain, New York Times They know the borrowing limit must be raised, one way or another. |
John Tamny, RealClearMarkets "Not a penny. That's not right. And my economic plan will change that." So said President Biden on September 16th in typically mawkish fashion. Biden was referencing a list produced by the Institute on Taxation and Economic Policy that revealed - gasp - 55 corporations that didn't pay taxes in 2020. Naturally the list has given the 46th president a fit of the vapors, and by extension, some political talking points. Did anyone expect someone unoriginal as Biden is to not jump all over this misleading news? |
Joseph Calhoun, Alhambra Investments US stocks sold off last Monday due to fears over the potential - likely - failure of China Evergrande, a real estate developer that has suddenly discovered the perils of leverage. Well that and the perils of being in an industry not currently favored by Xi Jinping. He has declared that houses are |
Market Minder, Fisher It suggests to us the bull market is on fine footing. |
Antoine Gara, Forbes The standard playbook in private equity is to borrow, buy and cut costs ruthlessly. But a massive windfall from investments in PetSmart and Chewy has taught BC Partners Raymond Svider that sometimes, doubling down is a better option. |
Seth Levine, The Integrating Investor We live in a golden age of content. There are so many high-quality investor interviews these days and, as result, so much available to learn. |
Don Boudreaux, AIER "The fact that the market, thankfully, is so robust as not to grind to a halt at the slightest provocation ought not be mistaken as evidence that government interventions into the economy are harmless unless and until they begin to resemble full-on socialism." ~ Donald J. Boudreaux |
Walter Block, RCM What is bidding? This is an act of trying to buy something. Waitasec. How can bidding be unacceptable when we all continually attempt to purchase goods and services? We do so not only every day, but practically every hour. Let me count some of the ways. |
Justin Feldman, Slate Asking if breakthrough infections are rare misses the point. |
Bill McBride, Calculated Risk These indicators are mostly for travel and entertainment. It will interesting to watch these sectors recover as the pandemic subsides. ... |
Ryan Detrick, LPL Financial Economic Blog Friday, September 24, 2021 |
Pat O'Hare, Briefing.com There's nothing systemic here. |
Richard Moody, Regions Bank |
James Montier, GMO We look at various instruments that might be thought to protect your portfolio from an inflationary outcome, whether as an inflation hedge or as a store of value. |
Ironman, Political Calculations The arrival of the coronavirus pandemic in the United States in March 2020 and, perhaps more significantly, the lockdown measures that state and local governments imposed on Americans as their response had a major impact on how Americans spent money in 2020. |
Rob Arnott & Vitali Kalesnik & Lillian Wu, Research Affiliates The value rebound that started in September 2020 gave up nearly half its gains by mid-May 2021 as the recovery faltered with the onslaught of the highly contagious Delta variant. But vaccination has proven highly effective, and as the unvaccinated around the world become vaccinated, the prospect of a reinvigorated economy is good. Is now a second chance to rebalance into value stocks? |
Eric Spitznagel, New York Post How the great and powerful Peter Thiel became the most feared man in Silicon Valley. |
Shirin Ghaffary & Rani Molla, Vox Inside the unexpected fight that's dividing the most valuable company in the world. |
Ronnie Shows, Arkansas Democrat-Gazette The Biden administration has decided to confront the issue of corporate consolidation and antitrust concerns. This must be a priority; too many Americans are being left on the sidelines of our economy because big companies have too much power to operate without fear of government oversight or marketplace competition. |
William Smith, Washington Examiner As a way to tackle drug prices, President Joe Biden recently announced that he supports the so-called "inflation rebate," which would require drug companies to give the federal government any revenue from Medicare drug prices above the general rate of inflation. Senate Finance Committee Chairman… |
Editorial, The New York Sun Messrs. Bezos, Musk, and Branson Dear Jeff, Elon, and Richard Assume you fellows heard the potshot at the three of you this week by the Secretary General of the United Nations, António Guterres. "When people see billionaires joyriding to space while |
Glenn Hamer, The Hill While we may not know how long this pandemic will last, we do know that leaders in Washington must focus on rebuilding our economy. |
Martha White, NYT Some Black and Hispanic millennials are looking to alternatives like real estate or entrepreneurship, or to trading stock on their own. |
Peter Earle, American Institute for Economic Research "With the Evergrande crisis looming in the background, the crypto universe being pilloried by Chinese authorities as a 'growing threat to financial stability' and 'disrupt[ive] to economic order' is more than simply ironic. It is irony at its most mordant." ~ Peter C. Earle |
Anne O. Krueger, Project Syndicate After declaring that "America is back" and rejecting almost everything that Donald Trump represented, the Biden administration seemed poised to reclaim the mantle of US leadership within the open market-oriented international order. Yet in its strategy to counter China, it is behaving utterly Trumpian. |
Ben Carlson, A Wealth Of Common Sense If we do a tale of the tape, you'll notice many differences between these two legends. |
Lee Jackson, 24/7 Wall St. These six stocks, four of which are in the red-hot energy sector, pay the highest dividends in the S&P 500 and look like great total return ideas for income-oriented investors looking for some upside appreciation as well. |
David Frum, The Atlantic The rising prices at the supermarket checkout are a problem with no simple explanation. But Democratic hopes may depend on finding the right answer. |
Fisher Investments Editorial Staff, Fisher Investments |
J.C. Parets, All Star Charts The best lessons are learned the hard way. That's just the way life goes. One of the most important things I've come to understand about markets, and life, is that you have to worry about yourself first. |
Lydia DePillis, ProPublica At least 120 publicly traded companies that received large PPP loans grew their revenues last year and have been allowed to keep the money anyway, according to a ProPublica analysis. The program was built to help small businesses. |
Alicia McElhaney, Institutional Investor The cryptocurrency is more volatile than equities — but investors shouldn't write it off completely. |
Dylan Matthews, Vox Minting the trillion-dollar coin, the 14th Amendment, and other ways to finally kill the debt ceiling. |
Eric Boehm, Reason Democrats are now relying on the same "dynamic scoring" technique they've previously criticized. |
Robin Powell, The Evidence-Based Investor One of the behavioural biases that harm investors' returns is the illusion of control. We fool ourselves into thinking we have control over external events. |
Brad Stulberg, Time And what you can do about it |
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