The NY Post reports that while bankruptcies are still nowhere near Great Recession levels, they are rising noticeably. John Aidan Byrne writes: New York state’s bankruptcy filings, for instance, have risen steadily the past three years, hitting 34,711 in 2018, up from 30,112 in 2016, according to the American Bankruptcy Institute (ABI), based on data from Epiq Systems. More consumers nationwide are falling behind on their payments and filing for bankruptcy to resolve overwhelming debt loads. And low unemployment, an uptick in average wages and the latest Fed interest rate cut have not … [Read more...]
Pensions, Unsurprisingly, Miss Their Mark
I have warned for years that public pensions are overestimating their future returns, and therefore are a giant source of debt for future taxpayers who will be forced to pick up the deficit. At the end of the fiscal year in June, median public pensions had missed their expected returns by 1.1 percentage points. Bloomberg's Martin Z. Braun reports: U.S. public pensions posted their weakest performance in three years, falling a percentage point short of their investment targets, and the prospect of rock-bottom interest rates and a trade-war induced recession could put a greater strain on … [Read more...]
Will Rising Iran Tensions Unleash a Cyber-War?
Last week I explained the dangers of a cyber-war to Americans. Loss of critical infrastructure could cripple Americans' energy, water, information and transportation systems, sending the country back into the dark ages. Tensions in the Persian Gulf have been rising, with Iran and the U.S. locked in a disagreement over nuclear enrichment, missiles and more. The disagreements between the U.S. and Iran have escalated into a tit-for-tat in which Iran downed a U.S. drone and has seized tankers in the Gulf, and then US Cyber Command conducted attacks against Iranian intelligence … [Read more...]
This Money Market Fund is Paying 47 Times More than its Competition
Fidelity investments may be sparking a war among money market funds by offering a 1.91% yield on money in new brokerage and retirement accounts. That's 47 times higher than Fidelity competitor, TD Ameritrade, 10 times higher than Charles Schwab and 27 times higher the E*Trade. Vicky Ge Huang reports on Fidelity's move at AdvisorHub, writing: “I am not surprised to hear that Fidelity is offering better interest rates,” said Greg O’Gara, senior wealth management analyst at Aite Group. “They continue to try to reach out to their client base and prospects by offering superior product alternatives … [Read more...]
Democrats Ignoring Reality with Calls for Useless Gun Control
At The Wall Street Journal, Kimberley Strassel correctly describes Democrats' gun control proposals as reflexive and predictable. The so-called "solutions" being offered by Democrats have nothing to do with the recent shootings or even most shootings for that matter. But to Democratic voters these proposals sound good, and therefore to the 25 Democrats running for the party's nomination for the 2020 presidential race, they sound good too. Here's Strassel describing some of the candidates' plans to infringe on your Second Amendment rights: Texas’ former Rep. Beto O’Rourke said he is now … [Read more...]
Google Doesn’t Want You to See This Video
The video below, like 55 other videos by PragerU, has been restricted by Google's YouTube. As Dennis Prager notes, the video below was censored "two weeks after a Senate hearing at which a Google representative swore under oath that the company doesn’t censor based on political views." You may not agree with the contents of the video, but does that give Google the right to restrict access to it? … [Read more...]
Luxury Buyers Race to Beat New NYC Taxes
As though New Yorkers weren't taxed enough already, New York City has imposed a new set of transfer taxes on properties selling for $2 million or more. Buyers raced to close their real estate deals to beat the taxes which could be up to 3.15% on deals. The number of luxury deals closed in June was record-breaking. Over $4.8 billion worth of property changed hands. The WSJ's Josh Barbanel reports: As the deadline to beat the tax increase neared, the buying frenzy only intensified. Of the 673 June transactions of at least $2 million, 351 closed in the final seven days. That week alone accounted … [Read more...]
Will the Next “Battle of Britain” Be a Cyber War?
In the years leading up to World War II, the Western democracies, especially the British, worried about the growing power of Hitler's Luftwaffe. The advent of real airpower had brought a scary new possibility to war; targeting of civilian areas from the air as a weapon of terror. Without today's precision-guided bombs, the air war of World War II was a blunt instrument, used as much to create terror as to hit targets of value. During the 1940-41 air campaign by the Nazis over Britain, over 40,000 civilians were killed. This wasn't the first time a military had attacked civilians, but in … [Read more...]
Tucker Explains: The Root of America’s Shooting Problem
Tucker Carlson laces into "disgusting" Democrats who are using shootings in Dayton and El Paso for their own political gain. Carlson then goes on to get into what the "root of the problem" might really be. Watch the latest video at foxnews.com … [Read more...]
Are Munis a Shelter from the Storm? Not so Fast
The Wall Street Journal reports that Americans in high tax states like New York and California are jumping into municipal bonds to shelter their investments from taxation. Maybe these are residents who can flee from the high tax states they call home, as so many others have. Now that the federal government has stopped subsidizing these states' high taxation, residents are feeling the full burden of their states' big-spending ways. The Journal reports: Investors in high-tax states like New York and California are piling into municipal bonds this year, fueled in part by the 2017 tax overhaul … [Read more...]
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