Writing at The American Conservative, Pat Buchanan extols the virtues of tariffs and their history as a cornerstone of American economic policy. He writes: William McKinley, the veteran of Antietam who gave his name to the McKinley Tariff, declared four years before being elected president: “Free trade results in our giving our money…our manufactures and our markets to other nations. …It will bring widespread discontent. It will revolutionize our values.” Campaigning in 1892, McKinley said, “Open competition between high-paid American labor and poorly paid European labor will either drive … [Read more...]
Will You be Ready When the Stock Market Crashes?
Facebook and Twitter shares both cratered this week. It may be time to ask yourself, as I did here on January 17, 2018, are you ready for when the stock market crashes? When the stock market crashes, there will have been plenty of opportunities for you to prepare for it. But that’s easier said than done. Because to do so you need to go against the grain. For example, bond investors are getting a blast of Arctic air as interest rates march higher. Prices are down. But does that mean it’s time to sell? No. The key to weathering this bond chill is to remember why you own bonds in the … [Read more...]
Trump Bump: GDP Could Hit 4%
I've always liked Larry Kudlow, both during his time on CNBC, and now as Trump’s top economic adviser. His enthusiasm is contagious. I like his optimism for the economy here. Renae Reints reports on the interview for Fortune: In an interview with CNBC Wednesday, Kudlow seemed optimistic for the U.S. economy despite the current trade war. “We are getting 3 [percent] and it may be 4 for a quarter or two,” Kudlow told CNBC. “That’s all for the good. Literally millions more people are working.” GDP growth for the first quarter of 2018 was 2%. The White House has aimed to boost the economy … [Read more...]
Heat Waves and Hacking the Grid
When it’s hot outside and you can cut the air with a knife, you appreciate every second you have in air conditioning. But there's no air conditioning without electricity, or much of anything else for that matter. I’ve been writing for years about the vulnerability and sensitivity of our power grid. Here's a sample of what I've been trying to get Americans focused on: U.S. Power Grid More Vulnerable Than Ukraine's? What Happens if Hackers Take Down the Grid? America’s Grid is Vulnerable: Here’s How to Improve It Don’t Get Caught in the Dark: America’s Electric Grid is … [Read more...]
LaPierre: “They Care About Control”
In a strong defense of the Second Amendment, NRA Executive Vice President, Wayne LaPierre, told an audience in February that “They care more about control, and more of it. Their goal is to eliminate the second amendment and our firearms freedoms so they can eradicate all individual freedoms... They hate the NRA, they hate the second amendment, they hate individual freedom.” WATCH: NRA's Wayne LaPierre speaks at CPAC … [Read more...]
Your Retirement Life: Seeking Higher Yields?
You can thank low interest rates for the temptation to seek higher returns. Don’t think for a minute that risk/reward no longer applies to you. Like gravity, it’s always there, even if you can’t see it. Unfortunately it’s never fair when those with good intentions get burned. But it happens all the time. In The Wall Street Journal, Jean Eaglesham reports on a scam that duped investors for $100 million. She writes: Scott Kohn, a 64-year-old felon, ran a company from a Nevada strip-mall mailbox that investors claim took them for more than $100 million in losses. Mr. Kohn’s company, Future … [Read more...]
Survive and Thrive July: If You Have a Minute, I’ll Show You How to Experience Newport like the Rich and Famous
“E.J., we’re going to be in town for the Newport Flower Show, are you available to meet?” asked Anne, a client of mine. “Of course, I am,” I replied. And just like that a wonderful weekend was booked. Lucky them. What are you waiting for? You have plenty of reasons to come to Newport. Not only is today the beginning of the world renown Newport Flower Show, but, most kids in Newport are still in school. No beach crowd traffic to deal with, yet. And I mean yet. Which is why late June, the Flower Show, and perhaps you, go hand in hand with your perfectly timed mini-vacation. If you want … [Read more...]
Beware the Coming 401(k) Annuity Storm
Congress is trying to pass new rules on 401(k)s. There are some good reforms in the current legislation, but one glaring red alert is the increased role of annuities planned for 401(k) accounts in the bill. Annuities can be fee-sucking, performance killing traps enriching the companies that sell them, rather than the customers who buy them. Anne Tergesen reports on some of the drawbacks of annuities: Annuities aren’t often used in 401(k) plans, in part because employers worry that if they pick an insurance company that ends up going bust, the 401(k) participants will sue the … [Read more...]
Your Retirement Life: The International Tennis Hall of Fame
There’s a couple of ways to get in to the International Tennis Hall of Fame: Dedicate your life to the sport and realize incredible success or, cross Bellevue Avenue from my office and enter the historic complex by foot. This week, as is tradition following Wimbledon, competitors are in town for the Dell Technologies Hall of Fame Open. It’s a wonderful time to be in Newport for players and fans alike as both mingle about town enjoying what Newport has to offer. If you’re a tennis fan and have questions about your investments, swing by for some coffee before heading across the street for the … [Read more...]
Trump Threatens the Cold War Bureaucracy with Irrelevance
An entire foreign policy bureaucracy has grown up around the old battle lines of the Cold War. President Trump's attempts to befriend Russia threaten the jobs and purpose of that entire bureaucracy, and they are fighting back. Linda Muller, working for Pat Buchanan at Buchanan.org, asks readers to share Pat's latest column discussing Trump's strategy. She writes in an email to subscribers: Dear Brigade, "Trump is headed for the most brutal battle of his presidency.... By cheering Brexit, dissing the EU, suggesting NATO is obsolete, departing Syria, trying to get on with Putin, Trump is … [Read more...]
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