As the war in Ukraine drags on, the world is feeling the price of excluding Russia from the global economy. Ever since Russia invaded Ukraine, Western nations have been levying heavier sanctions, and Russia has used its own economic power as a blunt instrument to hurt Ukraine's friends in the West. Jessica Rawnsley explains in the Financial Times how the war is wreaking havoc on global supply chains, writing: The war in Ukraine is wreaking havoc on global supply chains. Western sanctions in response to the invasion, price shocks resulting from Russia’s weaponisation of energy, and disruptions … [Read more...]
Archives for November 2022
“The Heat Isn’t Working Upstairs”
Your Survival Guy returned home from work yesterday (yes, going to the office is still a thing) to: “The heat isn’t working upstairs.” I’ll let you guess who said it, considering we’re now empty nesters. If our dog could talk, his eyes were saying, “You might want to go back to work.” On the coldest day of the year (so far), it was the second time we turned on the heat or tried to this year. Which brings me to another note to self: “When the AC wasn’t working a couple of months ago, maybe that was a good time to get the heating system checked out. Just saying.” Action Line: Look, I’m … [Read more...]
Are Electric Vehicles Threatening Auto Unions?
According to Ford CEO Jim Farley, "It takes 40 percent less labor to make an electric car." The company is finding ways to utilize its large unionized workforce to make more parts in-house. That could mean, of course, that parts suppliers to Ford will be given less business in the future. With fewer laborers needed overall in the heavily unionized auto industry, will electric cars be responsible for the further decline of auto unions? Claire Bushey reports in the Financial Times: The transition to electric vehicles is widely expected to reduce the number of jobs in the auto industry because … [Read more...]
Which European Countries Have the Best Tax Systems?
Whether you're looking for new international investment opportunities or simply wondering where the government will get the least of your vacation dollars, it's handy to take a look at foreign countries' tax structures. Your Survival Guy has been spending more time in Europe again now that COVID regulations have subsided a bit, and it's important to pay attention to what you're up against when you travel. The best place to look for clarity on European tax structures is the Tax Foundation, which releases an annual International Tax Competitiveness Index explaining the differences in OECD … [Read more...]
Are Cheaper, Lower-Range Batteries the Answer to Electric Automobiles?
Automakers are giving cheaper batteries with shorter ranges a try in their efforts to build electric cars consumers will buy. The Wall Street Journal's Mike Colias reports: In the race to build a more affordable electric car, auto makers are turning to a lower-cost battery type that could lead to less-expensive options, but deliver less driving range. Several major car companies plan to deploy lithium-iron-phosphate batteries, known as LFP, a type commonly used in China, the world’s largest market for electric cars. Those iron-based battery cells cost less than the nickel-and-cobalt … [Read more...]
Your Survival Guy’s Way to Wealth
Your Survival Guy's way to wealth is about winning the slow and steady race. It's about showing up. It's about doing your job. It's about saving 'til it hurts and working as long as you can. And then—after a lifetime of work, saving, and investing (not speculating)—you can stop and think for a second and ask yourself: "How in the heck did I save all this money?" Columnist Andy Kessler writes an outstanding (depressing) piece in The Wall Street Journal, "The Decline of Work." He writes about the value of work and refers to Mike Rowe—of Dirty Jobs fame—about the value of getting a job and … [Read more...]
Home Flipping Now Too Risky for Redfin
Due to increased risk in the market for houses, Redfin has become the latest real estate company to abandon its home-flipping business. Will Parker reports in The Wall Street Journal: Real-estate company Redfin Corp. laid off 13% of its staff on Wednesday and closed its home-flipping unit, saying the operation was both too expensive and too risky to continue. The Seattle-based company, which operates a real-estate brokerage and home-listings website, said the decisions were made because it is predicting that the real-estate market is going to be smaller next year and its home-flipping … [Read more...]
Your Survival Guy in Paris: A Sunday Lunch to Love
OK, where is Your Survival Guy’s favorite lunch in Paris? Glad you asked. Answer: the next one. But, seriously, what makes a great lunch, great? One measure is when you’re back home, you want to replicate some of those flavors and memories that made it special. La Fontaine de Mars is where we eat Sunday lunch. We own their pink and red checkered cloth napkins as a reminder—when they’re draped over our kitchen island, everyone knows we’re in for a special time. Yes, it’s possible to be in Paris from the comfort of your home. I take that trip often. Walking to La Fontaine de Mars from Le … [Read more...]
November RAGE Gauge: Live a Life of Balance, Especially in Your Investments
A balanced portfolio is far from dead. It keeps you in the game, so you don’t have to time the market. Yesterday was the biggest one-day percentage gain for stocks since the depths of Covid and the biggest one-day plunge in 2 and 10-year treasury bond yields in over a decade (remember, when rates fall, bond prices increase). You don’t want to be in the prediction business. Markets are in the business of making winners and losers daily. I want you to focus on investing to earn dividends and interest. Let the prices do what they do—I don’t need to be in the rah, rah, rah business. This is … [Read more...]
Follow Your Survival Guy Down This Road to Wealth
There’s nothing wrong with incremental growth. It keeps you focused day in and day out so you don’t lose sight of the prize. With that said, let’s focus on what you can do today. Look, I’m Your Survival Guy, not Robert Frost—I don’t need to take the road less traveled when the one before me is smooth and well-maintained. I don’t need to be a hero when I’m simply going for a walk—one step in front of the other. I like the routine. Your kids and grandkids might, too, if you get them on the road to wealth early in life. Leave the adventure stuff to other areas of life—my money is on the slow … [Read more...]