The internet is not known as a purveyor of truth. (In case you didn’t know.) Q4 2020 hedge fund letters, conferences and more The false information can take many forms. Maybe it’s the fake Robin Williams quote your aunt shared on Facebook. Or perhaps it’s the nutty Qanon conspiracies you see...
President Biden has not backed down from his $1.9 trillion COVID-19 spending proposal, and House Democrats are pushing full steam ahead on making his vision a legislative reality. But a top budget watchdog just warned that the budget-busting legislation, which costs roughly $13,260 per federal taxpayer, is full of...
Puerto Rico has had a long history of being harmed by Washington overreach. The island was once home to a thriving needlework industry until the federal minimum wage destroyed its competitive advantage. The same unintended consequence happened again in 1974 when increases in the minimum wage cut 32 percent...
We’ve all heard the apocryphal quote attributed to Albert Einstein: “Insanity is doing the same thing over and over again and expecting different results.” Einstein might not have actually said it, but the quip nonetheless describes what Congress is doing right now with COVID-19 stimulus efforts to a T. Q3...
According to Roll Call, House Majority Leader Steny H. Hoyer has indicated that Democratic leaders are planning to bring back earmarks to the appropriations process in the upcoming term. This comes less than a decade after a long battle to end their starring role in pork-barrel politics finally succeeded. Q3...
There is overwhelming evidence that government lockdowns are ineffective at containing the coronavirus. Yet city and state governments continue to employ the economically crushing tactic amid rising COVID-19 case counts even though it means forcing millions more out of work. Q3 2020 hedge fund letters, conferences and more Heavy-handed politicians have...
For over a century, policymakers have argued that homeowners take better care of their neighborhood and are just generally more desirable in other ways. As early as 1917, the federal Labor Department created a propaganda campaign to encourage home ownership. And in 1925, Commerce Secretary Herbert Hoover wrote Q3...
Are California and New York in their own secret competition to see who can get the most people to flee their state this year? Lately, it sure seems like it. Q3 2020 hedge fund letters, conferences and more FirmBee / Pixabay Both states have enforced stringent lockdown practices utterly detached from the...
Ever since the beginning of the pandemic, working from home is the new normal. Q3 2020 hedge fund letters, conferences and more In 2018, just 5.4 percent of the US's working population worked remotely. By mid-2020, it had turned into reality for 56 percent of the workforce. While not all workers...
Now that the presidential campaign season is in the rear-view mirror, it’s clearly time to get back to normal. Unfortunately, normality isn’t any more linked to the truth than is the election cycle, even if the lies are a lot harder to spot. But as is always the case...
As officials in many areas impose new pandemic lockdowns and restrictions going into the holiday season, things can seem bleak. Depression rates are up, people are fleeing cities in droves, elected leaders regularly violate their own orders, and fraud is rampant in the government’s COVID-19 stimulus programs. Q3 2020 hedge...
At some point, when the election chaos is finally settled, Congress will likely turn to passing another COVID-19 stimulus/relief bill. (Despite the last one being plagued by rampant fraud and dysfunction). One starting point for negotiations will be the “HEROES Act,” a $2.2 trillion bill the House passed in...
While the fight continues over the election results, Washington, D.C. is quietly negotiating the details of another COVID-19 stimulus bill. Democrats want trillions more while Republicans argue we should limit further expenditure to “just” $500 billion. Q3 2020 hedge fund letters, conferences and more Neither side is taking time to reflect...
In its latest effort to expand its role, the Federal Reserve has been working on a billion dollar, 5-year plan to launch a new operation entitled FedNow. The Fed hopes this will allow Americans to send and receive payments within seconds, bringing America’s payments system up to speed with...
Elon Musk dropped an economic truth bomb on Joe Rogan’s podcast a couple of months ago. Q2 2020 hedge fund letters, conferences and more Screenshot via Joe Rogan show “If you don’t make stuff, there’s no stuff.” Obvious? You’d think so. But, as Musk pointed out, our economic policies throughout the COVID-19 pandemic...
Even before our nationwide COVID-19 panic attack, we were heading for yet another trillion dollar deficit. Before the dust settled, 30 million Americans had filed for unemployment, those fortunate enough to have jobs were figuring out how to work from home, and nearly everyone was left wondering whom to...
During a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people. Q1 2020 hedge fund letters, conferences and more Ten days later, Trump signed a stimulus...
A famous saying, especially prescient in times like this, is “those who do not learn from history are doomed to repeat it." Q1 2020 hedge fund letters, conferences and more Leo_65 / Pixabay Last week, Congress mortgaged the nation’s future in a matter of days by rushing through a historic $2 trillion...
Some people believe that becoming rich is a question of luck. I disagree. Whether chance presents you with a good opportunity or not is not the key question. Rather: Q4 2019 hedge fund letters, conferences and more 12019 / Pixabay Do you actually recognize the opportunity in front of you? Or...
Venezuela has experienced one of the sharpest economic declines in modern history—rampant inflation, near-famine, and an exodus of millions of asylum seekers. Yet there remains disagreement over what caused it. Q4 2019 hedge fund letters, conferences and more Many refuse to blame socialism, instead citing the collapse of oil prices, corruption,...
Last week CEO Elon Musk helped unveil Tesla’s new Cybertruck. The Cybertruck’s abstract design won’t work for those needing a large flatbed for hauling, but Tesla’s innovative project is moving the needle for weekend warriors. Already 200,000 Tesla fans have put down a deposit to reserve their truck for...
Several Christmases ago, I stopped buying NCAA-branded gifts for my football fanatic in-laws, because the NCAA’s treatment of student-athletes is abysmal. Recent reports that some college sportswear is being made with the forced labor of Muslim-Chinese ‘Uyghurs’ may convince more shoppers to boycott. Q3 2019 hedge fund letters, conferences and...
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