Hurricane Florence is bearing down on South Carolina, with some estimates suggesting four FEET of rain could swamp the coastal towns. Even for seasoned hurricane survivors, that’s a mega-monsoon. Debbie and I have encountered many hurricanes in our decades of East Coast living. Most recently our Key West home was visited by Hurricane Irma, which left much of the Keys devastated. Our home was left relatively intact compared to some neighbors. In 2004 I outlined some of the preparations built into our home. My point then was that when you plan ahead, damage can be minimized. My Big … [Read more...]
Archives for September 2018
Beyond Bitcoin, Has Crypto-Boredom Set in?
It has been a hard year for crypto-currencies, especially once you look beyond bitcoin. Since June 30, bitcoin is down 1.7%, but as Paul Vigna writes in The Wall Street Journal, "Ether, the second most-valuable cryptocurrency behind bitcoin, is down 53% since June 30, while XRP, also called ripple, is down 43%. Bitcoin Cash is down 37%, and EOS is down 38%." Over the years I've spent time talking to you on this site about the dangers and drawbacks of crypto-currencies. Here's a brief sample of what I have written in the past: Can Crypto-Currencies Ever be Safe? Steve Forbes: Here’s … [Read more...]
Cable Killer: Verizon to Begin 5G Rollout
Verizon is rolling out 5G internet and TV service in October to an initially small number of American cities. 5G is the next major advancement in Internet technology and will compete directly with cable. Verizon has said its internet will give users faster speeds than cable, without the wires. Bloomberg's Scott Moritz reports: Verizon Communications Inc., taking a key step toward rolling out speedier internet and pay-TV service across the U.S., will start offering a fifth-generation package on Oct. 1 in four cities, with signups beginning this week. Would-be customers in those initial … [Read more...]
Is Canada About to Break in NAFTA Talks?
Reuters reports that Canada may be about to offer concessions to the United States on dairy imports to get NAFTA moving forward. This would be a big change in posture for the Canadians and a win for the Trump administration. The pressure is on the Canadian side as the U.S. and Mexico have already agreed to a deal. David Ljunggren and David Lawder write for Reuters: Canada is ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to rework the North American Free Trade Agreement, two Canadian sources with direct knowledge of Ottawa’s … [Read more...]
How to Play the Online Shopping Trend without Betting on Amazon
The shift toward online shopping is a formidable trend that shows few signs of slowing anytime soon, but outside of Amazon (which appears to be priced for perfection) there aren't a lot of good ways to gain exposure. JP Morgan's real estate arm has found one. The company is playing the ecommerce trend by investing in industrial real estate, but not the typical warehouses that Amazon and others use to store their goods. JP Morgan is buying freight-transportation properties. These are properties that are used to move, prepare, or sort goods for delivery. Think truck terminals and … [Read more...]
Failed Fiduciary Rule Spells Caution for You
Time and time again the leadership at big brokerage houses and insurance companies seem to have their own best interests in mind rather than their clients'. They allow their army of salesmen to prey upon the public, cloaked in fancy names such as Advisor with an “O”, Sr. VPs, and/or you fill in the blank with an “important title” while following a less strict “suitability” rule. I have explained the benefits of the fiduciary rule to readers before. See here, here, and here for an introduction to the idea. Like clockwork they fail to look out for those they’re supposed to serve, YOU, the … [Read more...]
As Economy Booms, Trucking Jobs Soar
As the economy grows quickly, trucking companies are hiring drivers at a rapid clip. In last month alone, trucking fleets added 5,700 drivers. Jennifer Smith reports on the trend at The Wall Street Journal: It is the fourth straight month of growth in a sector where employers have been buying more trucks and raising driver pay as they look to expand freight capacity. Trucking companies have added 30,600 jobs since August 2017, the most since employment in the business grew by 37,400 jobs in the 12 months ending August 2015. “You hear a lot from employers about how hard it is to hire in … [Read more...]
Cato’s Chris Edwards: Tax Reform and Interstate Migration
“I divided the country into the 25 highest-tax and 25 lowest-tax states by a measure of household taxes. In 2016, almost 600,000 people moved, on net, from the former to the latter,” writes Chris Edwards, director of tax policy studies at Cato in his study Tax Reform and Interstate Migration. “People are moving into low-tax New Hampshire and out of Massachusetts. Into low-tax South Dakota and out of its neighbors. Into low-tax Tennessee and out of Kentucky. And into low-tax Florida from New York, Connecticut, New Jersey, and just about every other high-tax state.” Read more … [Read more...]
Swexit? Sweden’s Euro-Skeptics Win Big
In Sweden this weekend, the anti-immigrant, euro-skeptic Sweden Democrats made major gains. Neither of the larger center-left or center-right coalitions were able to break the 50% threshold in parliament, and the Sweden Democrats could have influence in the days ahead. Bloomberg reports: Europe’s political outsiders chalked up another milestone in the Swedish election as a rise in support for nationalists showed the battle lines being drawn right across the continent. While the anti-immigration Sweden Democrats fell short of some pollsters’ projection, they still posted the biggest gains … [Read more...]
While America’s Economy Booms, Canada’s Swoons
While the American economy roars ahead, Canada is watching its unemployment rate rise and its wage growth slow. Kim Mackrael reports on Canada's economy in The Wall Street Journal: OTTAWA—The Canadian economy unexpectedly shed jobs in August on a sharp drop in part-time work, helping to push the unemployment rate to 6.0%. The economy dropped a net 51,600 jobs in August on a seasonally adjusted basis, Statistics Canada said Friday. Market expectations were for an increase in employment of 5,000, according to economists at Royal Bank of Canada. Canada’s jobless rate, meanwhile, was 6.0%, … [Read more...]
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