President Trump has nominated Judy Shelton for a position on the Federal Reserve Board of Governors. The White House described Shelton's experience: Dr. Judy Shelton most recently served as United States Executive Director of the European Bank for Reconstruction and Development. The United States Senate confirmed her by voice vote in 2018. Dr. Shelton previously served as Chairman of the National Endowment for Democracy in 2017, having served as Vice Chairman from 2010 to 2014 and on the board from 2005 to 2014. She was also a founding member of Empower America and a staff economist for the … [Read more...]
“Mr. Smart Guy’s” Bullish Signal for Stocks
This is the time of year when you start figuring out how much you support Uncle Sam, literally. As you tally up the numbers, it’s hard not to wonder if you’re paying too much in taxes. Be careful, though, because going down this road leads to thoughts like: “Well, if I just invest in stocks, I’ll avoid taxes, and, if I need to sell, I’ll pay the more palatable capital gains rate.” Don’t get distracted and let “tax planning” ruin your portfolio. Take a deep breath. Look around you and consider your environment and how it relates to your situation. Don’t Let the Wise “Guys” Get in Your … [Read more...]
“Hello, McFly?”
Nice write-up by Marc Meyers in the WSJ on the anatomy of the song: “The Power of Love” by Huey Lewis and the News, featured in the movie Back to the Future starring Michael J. Fox. Meyers writes (abridged): By 1984, Huey Lewis and the News had eight Billboard pop hits but none cracked the top five. Then came an offer to write a theme for the movie “Back to the Future.” Mr. Lewis nearly passed. He feared a song with that title would make the News sound retro and dated. So he went with “The Power of Love.” The single became a No. 1 Billboard pop hit in 1985 and was nominated for an … [Read more...]
The Big Winners When You Faithfully Give to a Cause (Retirement)
If you didn’t read about the massive fund controlled by the Mormon Church, you will. With 16,000 plus members tithing 10% of their earnings, the fund has amassed a $100 billion fortune—a cash-generating behemoth that would make Warren Buffett blush. Roger Clarke, the head of the investment fund Ensign Peak that controls the church’s money, used to be a professor at Brigham Young University, reports Ian Lovett and Rachael Levy for the WSJ. He was running an investment firm in Los Angeles when he got the call. “It certainly wasn’t the most attractive financial office,” Mr. Clarke said. “But … [Read more...]
RAGE Gauge: Booming Gun Sales Are A Sign of Trump’s Strong Economy
You know I have clients in the gun business. They tell me the last couple of months were record-breakers for their business. Typically booming gun sales are a sign gun control supporters are making another push to ban Americans’ firearms. This time though, it’s a sign that more Americans have jobs and have more money in their pockets to spend on hobbies. The quality of jobs is getting better as well. U6 unemployment, the measure of unemployment that includes temporary and part-time workers, is near all-time lows at 6.9%. If Americans want full-time work, they are having a much easier … [Read more...]
Remembering Bob Marley: Natural Mystic
It’s not every day you get to go to Jamaica. I remember going for Spring Break one year while studying at Babson. When you’re in Jamaica, you hear Bob Marley songs in the wind as if he’s playing somewhere off in the distance. A special surprise at the end of our trip was hearing his songs performed live by his son Ziggy to a huge crowd on the cliffs of Negril. Last week Bob Marley would have turned 75, and in a way, he will always be with us thanks to the reggae sound he created. In an interview with NPR, Ziggy explains that his father kept things light even when they visited him on … [Read more...]
Your Survival Guy Caught Off-Guard, Again: Blackout Buddy
We lost power early Friday night for about an hour. It’s incredible how much can happen in an hour and how you realize your prep isn’t up to par when the lights go out. That’s where Your Survival Guy found himself at the start of the weekend. Thankfully the generator kicked in without a hitch. But that doesn’t mean all was well. First off, my son left on Thursday for a weekend ski trip with his high school friends. He didn’t have a chance to go to the bank. That left me, Your Survival Guy, with zero cash on hand after giving him all I had, a needless and avoidable position. … [Read more...]
When the Rules Apply to You but Not to Them
Justin Baer reports at The Wall Street Journal that the giant bond investing firm, Pacific Investment Management Co. (Pimco), "was aware employees had used the services of the firm founded by the figure at the center of a sweeping college-admissions scandal but it had “no information” suggesting these workers acted improperly." He writes: Douglas Hodge, a longtime Pimco executive who served as its CEO until 2016, was one of 33 wealthy parents accused this week of paying for bogus entrance-exam scores or fake athletic achievements to get their children admitted into competitive … [Read more...]
You Can Find a Better America in the South
Many Americans are Looking for a Better America in the South. Old stereotypes heap derision on the South, but as my father-in-law, Dick Young explains: At The American Conservative, Casey Chalk defends the South from the, unfortunately, frequent, unoriginal, and incorrect attacks against the region. He writes (abridged): In polite company among the technocratic elite, it’s acceptable to ridicule the South, Southern culture, and Southern politics. The Left has skewered Southern states for.” Historian and foreign policy commentator Robert Kagan in a July opinion piece for The Washington … [Read more...]
Tucker Explains: AOC Bill Would Protect Criminal Aliens
Fox News opinion anchor Tucker Carlson explains the New Way Forward Act, sponsored by Democrats in the House, including Alexandria Ocasio-Cortez. Tucker reports: At this moment there is a bill pending in Congress called the New Way Forward Act. It’s received almost no publicity, which is unfortunate as well as revealing. The legislation is sponsored by 44 House Democrats, including Reps. Ilhan Omar of Minnesota and Alexandria Ocasio-Cortez of New York. At roughly 4,400 words, it’s almost exactly as long as the U.S. Constitution. Like the Constitution, this legislation is designed to … [Read more...]
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