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America Deserves an Informed Choice, Let Johnson Debate

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At TheHill.com, Brent Budowsky urges the inclusion of Libertarian Party candidate, Gary Johnson in the presidential debates to give America the informed choice it deserves in November. The presidential debates should offer the American people an opportunity to evaluate the candidates for president and make an informed choice about the future direction of the nation. The debate commission should respect the two-party system, but should not be used as a vehicle for stifling dissent and silencing voices when many voters conclude the two-party system makes them choose the "lesser of two … [Read more...]

Middle Class Left Behind in Current Housing Boom

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In The Wall Street Journal, Laura Kusisto reports that prices are now just 2% below their 2006 peak, but those price gains aren't stemming from increased volume demand, but instead from lack of supply. Kusisto writes: Home prices rose in 83% of the nation’s 178 major real-estate markets in the second quarter, according to figures released Wednesday by the National Association of Realtors. Overall prices are now just 2% below the peak reached in July 2006, according to S&P CoreLogic Case-Shiller Indices. But most of the price gains, economists said, stem from a lack of fresh supply rather … [Read more...]

Gold: An Investment in Chaos

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I like what Jim Grant, publisher of Grant's Interest Rate Observer, has to say about gold and chaos. BusinessInsider.com reports: According to Matt Borin at the CFA Institute, Grant told the crowd at a recent conference of the New York Society of Security Analysts that the "case for gold is not as a hedge against monetary disorder, because we have monetary disorder, but rather an investment in monetary disorder." Grant noted that the $11.7 trillion in negative-yielding bonds has created an untenable situation in financial markets. This is Grant's monetary disorder. "Radical monetary … [Read more...]

A Third Podium for Debates

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Politico reports that venues scheduled to host the presidential debates are preparing for the possibility of three participants. The directive comes from producers working for the Commission on Presidential Debates and it’s meant, they say, to force the university hosts to be prepared and not as a reflection of the state of the race. But it could give supporters of Libertarian Gary Johnson and Green Party nominee Jill Stein hope as they push an alternative to the historically unpopular major party nominees. “With [former Gov.] Gary Johnson polling in some places more than double digits, they … [Read more...]

Millennials Should be Buyers not Renters

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I've written before (here, and here for starters) about the importance of ownership for young people. It's not easy facing massive student loans and the low earnings typical of entry-level jobs, but becoming an owner is a great goal for all Millennials and in fact, every American. But homeownership rates are at the lowest on record. Not for 51 years has ownership been so low. This is a function of the difficulty Millennials are having building family units and buying homes to house them. Bloomberg's Patrick Clark and Suzanne Woolley write that, while Millennials are having trouble buying … [Read more...]

Johnson/Weld Graded by Cato

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Gary Johnson and Bill Weld received good grades from Cato when they were governors. Cato report cards are here. The best governors get an “A” and the worst get an “F.” The reports covering Johnson and Weld were written by Steve Moore and various coauthors. Here are Johnson’s grades, with a few notes from the reports: 1996, “B.” Johnson is “aggressively trying to make the state more taxpayer friendly. To control spending, Johnson has vetoed 200 bills passed by a liberal legislature.” 1998, “B.” Johnson is “a true citizen-lawmaker who calls himself a libertarian … In a big-government state … [Read more...]

How Much is Your $100 Worth?

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How much is that Benjamin in your pocket really worth? If you live in New York or California, it may be a lot less than you think in relative value terms. But no surprise, your money is worth least in Washington D.C., where the relative value of $100 is a mere $84.67. Meanwhile, in Arkansas and Mississippi, your $100 gets stretched thanks to the low cost of living to $114.29 and $115.34 respectively. These numbers from The Tax Foundation are based BEA data. Alan Cole explains it here. Regional price differences are strikingly large; real purchasing power is 36 percent greater in Mississippi … [Read more...]

RAGE Gauge: Americans Unhappy

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Throughout July, Americans signaled that they're feeling more risk. Gold prices pushed higher, people bought more guns, and most frighteningly, dissatisfaction with the country jumped from 69% to 82%. It's obvious the current political campaign is having an effect on people's moods, and rightly so. No matter who you're voting for, no one can deny this has been one of the most divisive, scandal filled, and partisan elections in memory. The RAGE Gauge remains at High Risk. But politics isn't the only thing creating risk. Deutsche Bank reported recently that the U.S. has a 60% chance of entering … [Read more...]

Bob Lutz on the Auto Industry

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I saw this interview with Bob Lutz in the September 2016 issue of Car and Driver. C/D: Because automakers eat so much capital, will we eventually see only four or five remaining? BL: It's likely. With autonomous cars, you're gonna see more consolidation. Once we have transport modules, you order off the phone and brands won't matter anymore. When brands don't matter, the auto industry ends. It's got another 20 years. Bob Lutz On Where The Auto Industry is Headed … [Read more...]