You don’t need an EarthRoamer to see America. But it would be cool if you had one. Imagine where you could go. Save your money, learn a few tricks from the experts, and create your own expedition. What are you waiting for? … [Read more...]
A Japan-Sized Hole in U.S. Pensions
If you have been following my writing for any length of time, you'll know that I have been loudly and regularly sounding the alarm bell on the pension systems of America's cities and states. Here is a sampling of the pieces I have written on the subject: Pensions are Still Hiding from the Truth Dangerous Rules Make American Pensions Riskier Pensions Should be Fearful Pensions: Left on the Hook will be the Taxpayer Pensions in a Load of Trouble Today, Sarah Krouse reports for The Wall Street Journal that the pension hole in the United States for cities and states is the size … [Read more...]
How Red States are Winning the Jobs War
It turns out that one of the keys to business success is lowering costs. That doesn't just mean for raw materials, but also for government imposed costs like taxation. The places doing the best job of lowering those taxes and attracting more business are red states like Texas. In The Wall Street Journal, James Freeman explains how one private equity firm is making money moving software firms from high tax states to low tax states like Texas. Yesterday I told you that CNBC had classified Texas as the best state for business. This is an example of what makes that so. Freeman calls it the … [Read more...]
Cato Institute: Top 5 States: Freedom in the 50 States
The scholars at Cato Institute have narrowed down the Top 5 freest states in America. … [Read more...]
Grave Concerns about Annuity Survival
I have grave concerns about the survival of annuities. I like what Dennis Beaver writes at the Hanford Sentinel: For anyone thinking of moving a large amount of money from a retirement account into an insurance annuity at this time, it could be a terrible decision. “You’ve got to think this over very carefully. Do not be conned by a salesman looking only for a huge commission on the sale of an annuity, and, absolutely do not put all your eggs in one basket!” warns New York attorney Edward Stone. As one of a handful of lawyers in North America who specialize in life insurance/annuity … [Read more...]
Yet(i) Another Summer Day
Enjoying an afternoon in Edgartown, MA on Martha’s Vineyard. … [Read more...]
There’s a Better Way than Facebook
Yesterday, investors in Facebook stock had the entirety of this year's gains wiped out in a flash. The quarterly earnings crowd on Wall Street pulled the chair out from under Facebook after receiving bad news on the company's growth. It's that sort of volatility that conservative, retired or soon to be retired investors should attempt to avoid. Getting hit with a 19% loss in one day is hard to stomach when you have no new income coming in, and don't have time to recoup those losses. There's a Better Way to Invest than in Volatile Tech Stocks A better way to build a portfolio you can … [Read more...]
Buchanan: Economic Patriotism Put America First, and Made America First
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...]
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