The economist John Maynard Keynes (1883-1946) famously said, “in the long run we are all dead.” He wasn’t saying we should ignore the long run—only that we shouldn’t ignore the short run. Economists of the time, Keynes argued, believed that economies had self-correcting tendencies that, if left unhampered by [...]
Advocates of Social Security expansion have declared their intention to move the “Social Security 2100 Act” through the House of Representatives before August recess. The bill, introduced by Rep. John Larson (D., Conn.), has more than 200 co-sponsors. Its sponsors deserve credit for putting forth a comprehensive Social Security [...]
Since its founding, the Federal Reserve has had a hand in creating some of the largest bubbles in history. When the bank lowers interest rates, there is excess cash in the economy, making it relatively cheap for anyone to borrow. This creates malinvestment in the economy because while not [...]
Facebook is joining the cryptocurrency craze. Should we be concerned? Q1 hedge fund letters, conference, scoops etc Simon / Pixabay The social network site on June 18 said it’s launching a new cryptocurrency called Libra with the help of 27 partners, including MasterCard, Visa, eBay, and Uber. In simple terms, Libra is meant [...]
For three years, the pair scrimped and saved in order to fix up the four-unit property. On the weekends, Ramouldo would spend his days off making the 11-hour drive from New Jersey to Michigan to work on the house, making the much-needed repairs himself. In addition to the small [...]
Frustrated with the Federal Reserve’s degree of political independence and influence over of the economy, President Donald Trump has recently taken to publicly criticizing the man he chose to run the country’s central bank, Jerome Powell. “If we had a Fed that would lower interest rates, we’d be like [...]
It's one of the rules of electoral success: advocate policies that concentrate the benefits on an easy-to-identify interest group (preferably one that is sympathetic in the public eye) and disperse the costs onto the entire electorate. It's how we get Coke sweetened with corn syrup rather than actual sugar. [...]
In Greek mythology, Psyche was a woman of such beauty that she inspired jealousy in the love goddess Venus. The 19th-century Italian astronomer Annibale de Gasparis named a massive asteroid after her. How appropriate that it turns out that 16 Psyche, one of the biggest asteroids in the asteroid [...]
Should students be allowed to pay for education after the fact? Democratic presidential candidate Sen. Elizabeth Warren (D-MA) says no, kind of. While cautioning against income-share agreements (ISAs), Warren proposes a system that looks a whole lot like them—but with less choice or security for students. Q1 hedge fund letters, [...]
If someone from the 17th century came back to life, he or she would be surprised, most of all, by the means of transport and communication tools we use now. Q2 hedge fund letters, conference, scoops etc rdelarosa0 / Pixabay Probably, the most familiar things would be hospitals and schools. Personally, I think [...]
When I wrote a few days ago that the Trump tax reform was generating good results, I probably should have specified that some parts of the country are not enjoying as much growth because of bad state tax policy. Q1 hedge fund letters, conference, scoops etc As illustrated by my columns [...]
As the 2020 presidential campaign heats up, it’s disturbing that members of both parties seem unwilling to talk about Social Security. It appears that the program is on such shaky ground that even its mention is political dynamite. How bad is it? Social Security will become insolvent in just [...]
Rob Undersander, a retired engineer in Waite Park, Minnesota, wasn’t eager to go public about being a millionaire, but he wanted to expose a loophole that would allow wealthy—or at least those not needy—to qualify for food stamps. Q1 hedge fund letters, conference, scoops etc Engin_Akyurt / Pixabay Broad Food Stamp Eligibility So, [...]
Let us start with talking about bad money, by which I mean the US dollar, the euro, the Japanese yen, the Chinese renminbi, the British pound, the Swiss franc, and basically all official currencies. Q1 hedge fund letters, conference, scoops etc jaydeep_ / Pixabay They all represent fiat money. The term fiat [...]
Jan Koum had a rough upbringing. At 16, he immigrated from Europe to the United States with his mother and grandmother, who were fleeing political unrest and religious persecution. Jan’s mother got a job as a babysitter in California while Jan went to school and worked at a grocery [...]
If you enrolled at university today, you would find economics modules filled with mathematics and statistics to explain economic phenomena. There would also be next to no philosophy, law, or history, all of which are much more important to understanding the way our world works and how it impacts [...]
Peter Schiff took to Twitter the other day to blast Bitcoin yet again. This is hardly new for the Gold Evangelist, as Schiff has essentially made his entire living promoting the return of the gold standard and investing in the precious metal. This time, however, Schiff pointed to the [...]
The Social Security trustees issued their annual report on the program’s financial condition earlier this year, along with their companion report on Medicare. As in previous years, these reports contain sobering news that lawmakers and the public need to know. Q1 hedge fund letters, conference, scoops etc The trustees who authored [...]
For an agency that shies away from consumer guarantees and on-time deliveries, the United States Postal Service (USPS) is insistent that their business plan will be released by June 15. However, taxpayers and consumers shouldn’t be too confident that USPS will actually deliver this report (it’s probably best if they [...]
This summer, thousands of moms and dads will load their children onto buses and hug them goodbye as they head off to camp to pursue their childhood dreams. Many of these kids will devote their time to practicing their curveballs and base stealing on the diamond. Undoubtedly, all of [...]
I learned late last night that my boss for two years at the Council of Economic Advisers, Marty Feldstein, died yesterday. He was only 79. Q1 hedge fund letters, conference, scoops etc Image source: Bloomberg/YouTube Video Screenshot Marty, who was probably the world’s foremost health economist in the 1960s, took a risk [...]
As federal marijuana prohibition slowly fades away into the depths of history, the burgeoning legal recreational cannabis market is poised to usher in a green rush for the US economy. And while many are excited about the fiscal implications of this entirely new economic sector, and rightfully so, there [...]
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