The Fed can paper over inflation like shingles on a roof, but the numbers are the numbers. Protect your money accordingly. Try telling new home buyers there's no inflation. Nicole Friedman reports at the WSJ: U.S. home prices surged at their fastest pace ever in April as buyers competing for a limited number of homes on the market pushed the booming housing market to new records. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 14.6% in the year that ended in April, up from an 13.3% annual … [Read more...]
Archives for June 2021
Congress Gunning for Facebook After Courts Give Zuckerberg a Pass
Two complaints against Facebook were dismissed by a federal court on Monday, leading to renewed calls from both Democrats and Republicans for increased regulation of big tech companies. The FT reports: Senior members of Congress have renewed calls to overhaul US competition law following the failure of two landmark attempts to break up Facebook. Democrats and Republicans criticised the decision by a federal court on Monday to dismiss one complaint against the social media company by the Federal Trade Commission and another by individual states. Several said the judgment illustrated the … [Read more...]
Learn from Your Survival Guy: Coming Clean on Coal
OK, Your Survival Guy timed the market, overweighted a sector, and got emotional—three things you NEVER want to do as an investor. But, hey, I’m Your Survival Guy, not Mr. Perfect, and you can learn a lot from me because I’ve seen a lot. Back in 2015, when coal was a dirty four-letter word, Your Survival Guy felt it was oversold. The market was crazy, I thought, and so I bought a coal ETF, symbol KOL. Hey, the world needs coal, right? Well, apparently not, as my position was cut down like a Georgia pine, except I never heard “Timber!” You see, Your Survival Guy doesn’t live or die by the … [Read more...]
‘Truly Extraordinary’ Rise in American Home Prices
Home prices in America have been rising rapidly. The latest reported growth was faster than at any point in the last three decades. Remember, that includes the Housing Bubble. Mamta Badkar report in the FT: US home price growth accelerated in April at the fastest pace in more than three decades as strong housing demand continued to come up against a shortage of residential properties. The S&P Case-Shiller national home price index, which covers all nine US census divisions, rose 14.6 per cent year on year in April, data on Tuesday showed. That followed a 13.3 per cent annual jump in … [Read more...]
Is This an American Trend That’s Sustainable?
Americans are getting richer, but how long can that last? The flood of stimulus money created a strange phenomenon during the COVID-19 recession. Rather than getting poorer, many Americans, especially wealthier Americans, became richer. The Wall Street Journal reports: The coronavirus pandemic plunged Americans into recession. Instead of emerging poorer, many came out ahead. U.S. households added $13.5 trillion in wealth last year, according to the Federal Reserve, the biggest increase in records going back three decades. Many Americans of all stripes paid off credit-card debt, saved more … [Read more...]
It’s a Trap: High Fees Hamstring ESG Returns
Investors love the idea of helping the world out with their investing dollars. That has made selling ESG funds easy for the world's largest asset managers. They love pitching their funds as a way to "save the world," while quietly charging high management fees. But according to the Wall Street Journal, investors are beginning to notice something. Despite their desire to save the world, they still want to make money from their investments, and that's not always happening with ESG funds. Cheryl Winokur Munk reports: A notable 47% of respondents in the Schroders 2020 Global Investor Study say … [Read more...]
Has Someone At the Fed Finally Noticed Housing Inflation?
Has the Federal Reserve finally caught on that housing prices have been rapidly rising? Is it too late to prevent a bust? It seems Eric Rosengren, president of the Boston Fed, might be starting to pay attention to housing. The FT's James Politi and Colby Smith report: A senior Federal Reserve official has warned the US cannot afford a “boom and bust cycle” in the housing market that would threaten financial stability, in a sign of growing concern over rising property prices at the central bank. “It’s very important for us to get back to our 2 per cent inflation target but the goal is for … [Read more...]
America’s Scorched Earth: Where Energy Goes to Die
You and I know ESG investing is all about EGO and more fees. Like anything, just follow the money, and the truth unfolds right before your very eyes. You and I have been on top of this theme like no other. You understand the implications for your future will be enormous. It’s why I want you to be on the right side as history unfolds. Take this winter’s disaster in Texas, for example, when temps dipped to arctic levels, and there was no wind but for the frozen exhalations of shivering residents huddled together in the darkness of their homes. It was a third-world country. And this was … [Read more...]
Are Tech Stocks About to Get Hit by a Grenade?
The House Judiciary Committee looks like it could hit Big Tech with an anti-trust effort some are calling a "grenade." Two forthcoming bills aim to bust up Big Tech companies. Bloomberg reports: The House Judiciary Committee approved an antitrust bill that would force large technology companies like Amazon.com Inc. to exit certain businesses, a signature proposal within a package of measures aimed at reining in the companies and spurring competition in digital markets. The bill, which advanced Thursday on a bipartisan vote of 21-20, is one of six pieces of legislation moved forward by the … [Read more...]
Pray for Just a Little Patience
In my conversations with you, you're telling me how you're getting settled into your summer groove and how it's not always easy. I hear you. Because when the days are three times longer than nights, there's a lot of anxiety to "get stuff done." And it doesn't get easier with age. When making coffee feels like climbing Everest, or doing the dishes is the last thing you want to do, remember, you're not alone. This is a time of year packed with pressure, and as we get older, it's more difficult to have patience because we like things the way we like them, and things need to be right. Just ask … [Read more...]
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