UPDATE: After President Trump negotiated a new trade deal with Canada and Mexico, auto manufacturers are looking at bringing jobs back to North America. The Wall Street Journal's Chester Dawson and William Boston report on the new deal: "The tentative deal, which replaces Nafta, requires auto makers to build at least 75% of a car’s value in North America to remain duty-free within the region, up from 62.5% currently. Car companies also have to ensure 40% to 45% of the vehicle is made by workers earning at least $16 an hour, a provision aimed at steering more work to the U.S. to generate … [Read more...]
Stocks Crater 831 Points
On a day where the Dow shed 831 points and tech heavy Nasdaq lost over four percent, many bonds made money. It’s a simple, yet important, reminder of how counterbalancing works. … [Read more...]
Columbus Day Weekend 2018
Here you see Second Beach in Middletown, RI (next to Newport, RI) on our morning walk. … [Read more...]
Your Retirement Life: A Dire Warning
You may want to pay attention to what public pensions are buying and, more often than not, do the exact opposite. Case in point, a few years ago this group loaded up on “alt-investments” and hedge funds. Don’t look now, but hedge funds, which charge an exorbitant 2-and-20 (2% per year on your assets under management and 20% of your investment gains), are going out of business left and right. And then, as reported yesterday in The WSJ, the California Public Employees Retirement System (CALPERS) spent more than $2 billion on Southern timberland and harvested the trees at depressed prices to … [Read more...]
A Star is Born
If you can get beyond politics and do what you did when you were a kid—went to a movie for entertainment—then you’ll want to see A Star is Born. Because you’ll remember when you saw it. And you’ll want to see it again. I know Becky and I do. … [Read more...]
Your Retirement Life: Columbus Day in Newport, RI
Early October is a wonderful time to visit Newport, Rhode Island especially Columbus Day weekend. Discover Newport is a great place to find out what's happening each week. Here's what Brittany Lauro wrote about Columbus Day weekend: Columbus Day weekend on the Classic Coast brings with it all the fall feels as festival season kicks into full gear with seven (yup, seven!) fairs, festivals and major events taking over. Stroll cobblestone byways and enjoy special deals at the annual Columbus Day sidewalk sale on Bowen's Wharf where you'll find great deals on unique items from area shops; … [Read more...]
The Kavanaugh Vote: #1 Salesmen for the GOP Midterm Rally
"So much for that Blue Wave coming in November," a friend pointed out to me this week. That could simply be our wishful thinking. But, just as President Obama was America’s #1 gun salesman, it turns out Democrats on the Judiciary Committee and Christine Blasey Ford are the #1 salesmen for a Conservative America. Let’s get to the vote to confirm Kavanaugh so the grandstanding by Senate Democrats can continue, inspiring yet another GOP midterm rally. You really can’t make up a better scenario. At The Federalist, Ellie Bufkin explains in, “Conservative Women Will Make Democrats Pay for … [Read more...]
Rage Gage October: Interest Rates and Employment Up, Up, and Away
My early October readings are in, and clearly Americans are back to work thanks to the Trump Economic Revolution. And as interest rates rise, retired and soon to be retired investors can rejoice in the long-awaited Interest Rate Revolution. CNBC explained the good news for America's economy here: The number of Americans filing for unemployment benefits fell to a near 49-year low last week, pointing to sustained labor market strength, which should continue to underpin economic growth. The labor market, which is viewed as being near or at full employment, is steadily boosting wage … [Read more...]
Rhode Island’s Misguided Gun-Safety Task Force
The 43-member gun-safety task force that Gov. Gina Raimondo created last April has released its final recommendations. And it neuters Second Amendment rights for all Rhode Islanders—most of all law-abiding Rhode Islanders who own guns. I’ll make two points. First, the recommendation “Prohibits the concealed carry of firearms on the school grounds and within 1,000 feet of elementary or secondary schools and in government buildings.” Why don’t they just put a banner on the front of all schools “Welcome to Our School We’re Unarmed.” I have always felt that school administrators should do quite … [Read more...]
15 Years Since New Hampshire Lost the the Old Man of the Mountain
Take a look back at the Man on the Mountain in this piece I wrote back on May 4, 2018. It has been 15 years since the rock formation known as the Old Man of the Mountain fell apart in New Hampshire. Felice Belman of the Boston Globe explains why that was such a loss for the people of the Granite State. It was 15 years ago — May 3, 2003 — that the Old Man of the Mountain, the state’s iconic symbol, lost its 10,000-year battle with gravity and slipped from its spot atop Franconia Notch. If you weren’t there, it’s hard to appreciate just how bonkers the state’s reaction actually was. … [Read more...]
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