Congratulations to the Stanley Cup champion St. Louis Blues for their hard-fought, deserved win over my Boston Bruins. … [Read more...]
Kamala Harris Targets Worker Freedoms
Sen. Kamala Harris, who would very much like to be America's next president, told union members recently that she would issue an executive order banning Right to Work laws. It is unlikely the Supreme Court would ever find such an executive order constitutional, but even the idea of changing the law in 27 states to force employees into paying unions they don't support is wrong. I have written many times about the success of Right to Work laws in providing Americans with the jobs they need. If you are unfamiliar with Right to Work, you can get a sense of it here: Right to Work States … [Read more...]
Record Hiring in April
In April, businesses hired 5.9 million employees, the highest on record. Despite filling so many positions, there are still more jobs available than unemployed workers to fill them. You can see on my chart the demand for employees has been higher than the number of unemployed Americans since March of 2018. Bloomberg's Jeff Cox reports on the strong numbers for the economy: “In sum, the labor market remains strong and poised for continued solid job growth,” Ward McCarthy, chief financial U.S. economist at Jefferies, said in a note. “Despite the 21.4 [million] private sector jobs that … [Read more...]
Despite Past Failure, Connecticut Taxes More and More
Despite what seem to be ever increasing taxes, Connecticut's politicians can't seem to pay for all their spending. Every time taxes go up, more of the state's wealthy residents decide it's time to pick up and leave. Now, Connecticut is trying to adapt. Rather than raising headline rates on income or sales, Hartford's Regents of Revenue are creating a slew of new taxes on the edges of noticeability. The Middletown Press explains this new assault on Nutmeggers, writing: The sales tax on digital downloads — things like e-books and movies downloaded from Amazon — will increase from 1 percent … [Read more...]
Don’t Just Think About Retirement Planning, Act Now
According to a report from the TransAmerica Center for Retirement Studies Americans are concerned with their retirement, but they're not actually doing much about it. I urge you and anyone who hasn't already taken action toward planning for retirement to not wait, get to work now. FEDWeek reports: The report, based on polling samples of the baby boom, generation X and millennial generations, found that majorities of all three expect to have a harder time achieving financial security for retirement than their parents’ generation, with the younger two generations agreeing more strongly; and … [Read more...]
Here’s Why Americans Need High-Capacity Magazines
J. Eric Dietz of the Purdue Homeland Security Institute explains to NRA TV's Cam Edwards why high capacity magazines are vital to Americans' self-defense capabilities. If you haven't already gotten your guns and your training, I suggest you do both now. … [Read more...]
Have You Already Lost Hope for Retirement?
A scary statistic was recently uncovered in a survey conducted by LendEDU. Nearly 40 percent of Americans fear they will never save enough money to retire. Bloomberg reports: That’s despite nearly one in five Americans who said having enough money saved to be able to retire is their most important financial goal, according to a survey of 1,000 adults conducted by LendEDU in May. More Americans said saving for retirement is more important versus those that indicated paying off credit card debt or building an emergency fund, according to the survey. However, slightly more respondents said … [Read more...]
The Creative Destruction of America’s Business Cycle
Business is a cyclical phenomenon. The ups and downs of the business cycle serve to raise men and women up to the peak of prosperity, but also to destroy wealth in shocking fashion. Federal policies play a major part in the duration and regularity of these cycles. As you can see on the chart below of America's Business Booms and Depressions from 1775 to 1944, many of the business booms and busts have labels attached to them. Some were created by wars, embargoes, trust building and busting, monetary policy, etc. It's interesting to notice that the longest period of prosperity (green blocks) was … [Read more...]
If You’re Going to Drive Through Hell, Be Prepared
I recently told you the story of a client of mine who had to drive into what he called "gun hell," aka Massachusetts, without his favorite handgun. Because the trip's final destination was Massachusetts, and he couldn't concealed carry in that state, my client had to forgo his personal security throughout the entire trip from Arizona. If you are a firearm owner and you want to find the best resource for the rules of carrying your gun in each state, I advise picking up a copy of the 2019 Traveler's Guide to the Firearm Laws of the Fifty States. Here are some sample pages I use regularly. … [Read more...]
A Wolf of Wall Street in Sheep’s Clothing?
The SEC has completed its new regulation on best interests, and will begin enforcing it in one year. The rule increases the level of disclosures brokers must make, but it should not be confused with the more stringent fiduciary rules registered investment advisors are held to. In my opinion, if you're looking for financial advice that may be free of some of the conflicts of interest that may be associated with brokers, you need to find a registered investment advisor held to a fiduciary standard. The Wall Street Journal's Dave Michaels explains the new rule here: The SEC said the new rule, … [Read more...]
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