10/26/2021
Today

The Many Problems With Taxing Unrealized Cap. Gains

Elisabeth Dellinger, Fisher

The White House's Office for Management and Budget's logically flawed redefinition of income leads to some headline-drawing conclusions, but it isn't likely to lead to new laws.

Here's An Individual Case For Big Tax on U.S. Billionaires

Chuck Collins, The Hill

Since the beginning of the pandemic, 745 U.S. billionaires have seen their total wealth increase by $2.1 trillion, a gain of 70 percent.

The Biden Wealth Tax Would Violate the Constitution

Ira Stoll, The New York Sun

Joe Biden got himself elected president partly by opposing the billionaires' wealth tax proposed during the primary campaign by Senators Elizabeth Warren and Bernie Sanders. Now, in a reversal, President Biden is preparing to embrace the idea. And it

Markets Agree With Fed That the Inflation Is Transitory

Joseph Calhoun, Alhambra

The S&P 500 and Dow Jones Industrial stock averages made new all time highs last week as bonds sold off, the 10 year Treasury note yield briefly breaking above 1.7% before a pretty good sized rally Friday brought the yield back to 1.65%. And thus we're right back where we were at the end of

Why Supply Chain Chaos and Inflation Could Last Into 2022

Ellen Ioanes, Vox

Experts agree that high prices and low supplies aren't going away just yet.

Biden Has a Chance To Go Big and Bold At the Fed

Annelise Riles, New York Times

With new appointments, the president has a chance to overhaul the stale culture of central banking.

Be Realistic, There Are Dollar 'Bathtubs' Around the World

John Tamny, RCM

Looked at in isolation, and without considering the actual market value of the dollar versus commodities and other currencies, does East St. Louis, IL have a "deflation" problem? There aren't many dollars circulating there relative to Chicago. Does Chicago conversely have an "inflation" problem? More realistically, the presence of a lot or a little of what we call "money" is not something that can be planned, nor is it something that an individual, city, state, or country should ever worry about. The only area of focus should be production. Where's there's production there's always money...

Chinese Investment Markets Reveal 'Fatter Tails'

Seth Levine, Integrating Investor

While sad, it's no surprise that investment markets are falling with China's increased economic controls. Centralization produces fragility.

'Sustainable' Investing Fad Is Built On Wall Street Myth

Bernard Sharfman, Yahoo

Investing in environmentally friendly companies will not stop climate change; investment firms market ESG funds because they make the firm more money.

Active Federal Erosion of Our Economic Liberty

Richard Rahn, Washington Times

Is the U.S. on a road to destruction?

Pandora Papers Be Damned: Why You Should Bank Offshore

Kim Iskyan, AC

What if we told you the much-maligned practice of offshore banking by one-percenters is not only legal but practical?

Amazon Accidentally Makes a Case For Its Regulation

Ryan Cooper, The Week

Amazon is a cesspool of shoddy products and deception. Regulate it.

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?

The States Most Reliant On Investment Industry

Marko Csokasi, Commodity.com

Learn which states depend most on securities trading. We explain the total share of securities trading as part of state GDP and more.

Markets and Retain Momentum—But Risks Remain

Brad McMillan, Commonwealth

Both the economy and markets retain substantial momentum, but Commonwealth CIO Brad McMillan says uncertainty remains.

The Beast of Burden of Inflation

Liz Ann Sonders, Charles Schwab

The age of abundance has given way to an age of scarcity, while the pro-cyclical version of inflation may have given way to the counter-cyclical version.

Japan's Reopening Trade

Steven Vannelli, Knowledge Leaders Capital

In this quarter's strategy package, we share our analysis on Japan's Reopening Trade.

Why Do Banks Charge Us Fees For Not Enough Money?

Tatiana Walk-Morris, Vox

Banks charge customers for not having enough money. It's a tax on the poor.

Don't Let Dems Achieve Cradle-to-Grave Welfare

David Harsanyi, New York Post

The $3.5 trillion bill that Biden and Democrats are now attempting to cram through Congress via reconciliation is meant to create a European-style, cradle-to-grave welfare state.

Insider's Perspective On Food and 'Supply Chain'

Santura Pegram, Foodprocessing

Business consultant and member of the AFL-CIO / International Longshoremen's Association Santura Pegram offers this first-person perspective of the supply chain issues affecting US goods right now.

CFPB's Data Overreach Hurts Businesses It Claims to Help

Bryan Bashur, Hill

Opening the door for federal agencies to gain leverage to intervene in private contracts is distortive and may end up promoting discrimination instead of ending it.

Why Coal Stocks Rise, Even as the Planet Warms

Jeff Sommer, New York Times

As the prospects for strong government action to curb climate change grow less certain, energy shares, and especially coal mining stocks, are generating astonishing returns.

The Build Back Better Program Promises Childcare Disaster

Ryan Bourne, Cato

The Democrats' "Build Back Better" proposals for childcare represent a disastrous step in the ongoing government takeover of the sector - raising care costs, creating dependence, and instilling incentives against work and earning more income along the way.

A Right Bereft of Ideas Is Only Capable of Criticism

Michael Cohen, MSNBC.com

Republicans used to boast about being the party of ideas, but all they do now is oppose and criticize Democrats.

She Built Billionaire Fortune Powering FinTech Evolution

Jennifer Wang, Forbes

A former single mother and options trader, Jenny Just built a multi-billion dollar business that provides the trading and technology behind popular mobile trading platforms, robo-advisors, and online banks.

The Inflation Catch-Up Game

Mohamed A. El-Erian, Project Syndicate

As price increases accelerate, policymakers at leading central banks are slowly starting to move away from the narrative of "transitory" inflation that has already cost them the policy initiative. But the needed pivot is far from complete and not nearly quick enough, particularly at the US Federal Reserve.

What We've Learned About Supply Chains

Peter S. Goodman, New York Times

Confession: We didn't even have a logistics beat before the pandemic. Now we do. Here's what we've learned about the global supply chain disruption.

Biden's Vaccine Mandate Will Make Supply Problems Worse

Matt Egan, CNN

President Joe Biden's vaccine order will force employers to lay off thousands of workers, making the supply-chain crisis much worse, a major business group warned the White House this week.

What If a Great Crypto Crash Is Coming?

Benjamin Juhlin, AIER

"Were the world to experience a new economic downturn, there is a great possibility that this lack of consumer use will show the current valuation of Bitcoin to have been a bubble. If this happens, a lot of retail investors will suffer."

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

The Twitter Thread That Saved Christmas?

Neal Freyman, Morning Brew

Flexport CEO's tweetstorm leads to policy change that could help alleviate port backlog

Economic Trouble Won't Be Transitory

Milton Ezrati, City Journal

Mounting problems with inflation, the supply chain, and energy shortages are not likely to resolve themselves quickly.

Should You Buy a Home in the US?

Robert J. Shiller, Project Syndicate

Even at currently elevated US home-price levels, buying still makes sense for those who are set on ownership. But buyers need to be sure that they can accept what could be a rather bumpy and disappointing long-term path for home values.

What We Learned From The Facebook Papers

Russell Brandom, The Verge

It's a mess in there

The Bond Market Is Waking Up

Scott Grannis, Calafia Beach Pundit

It looks like the bond market is beginning to wake up to the reality of higher inflation.

Panic Series (Pt. VI) - 1866

Jamie Catherwood, Investor Amnesia

The Panic of 1866 is a familiar story of historic financial institutions discarding their conservative principles for higher-yielding and riskier ventures.

How Inflation Affects Stocks

Ben Carlson, A Wealth Of Common Sense

If inflation is higher going forward than it had been in the recent past it's not automatically a death sentence for the stock market.
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