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SEC Signals Greater Regulation of Crypto “Casinos”

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After the catastrophic collapse of the world's second largest cryptocurrency exchange, FTX, the SEC's Chairman, Gary Gensler, has signaled that his commission will be taking a harder line on cryptocurrency exchanges, tokens, hedge funds, and broker-dealers. Gensler made the comments about cryptocurrencies in an interview with Yahoo! Finance. When interviewer Jennifer Schonberger asked Gensler why the SEC didn't enforce the rules on the books regarding the collapse of FTX, Gensler responded: We are enforcing. The Securities and Exchange Commission, I couldn't be prouder. And it started under … [Read more...]

Your Survival Guy’s Christmas at Fort Wilderness

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When I was a kid, we traveled across the country in a 21-foot Winnebago Brave (yes, we were). When I think about how we celebrated Christmas early to spend Christmas day at Fort Wilderness in Walt Disney World, it brings a smile to my face. Writing to you from New England, where snow has been slow to catch on, it’s nice thinking about those more tropical memories. Which brings me to investing. Memories don’t always happen without a plan. You invest in your family, and you believe that it will pay off down the road. That’s certainly been the case for my parents, who put my sister and me … [Read more...]

Vanguard Does a U-Turn on Investor Activism

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After receiving pressure from investors and others, Vanguard has announced that it will withdraw from the Net Zero Asset Managers (NZAM) initiative. Brittany Bernstein reports in National Review: Vanguard announced Wednesday it is pulling out of the Net Zero Asset Managers initiative, an investment-industry effort to encourage fund firms to reach net zero emission targets by 2050. “We have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks—and to … [Read more...]

Mike Rowe Alarmed at American Men Leaving the Workforce

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You know that Your Survival Guy is a fan of Dirty Jobs host, Mike Rowe. Rowe is a proponent of the kind of hard work that made America the world's greatest economy. Rowe has recently raised the alarm over news that 7 million American men are no longer looking for work and have left the labor pool. Rowe recently discussed the problem with Brian Kilmeade. Watch the interview below: You can see on my chart below the long-term decline in male labor force participation in America, which has dropped from a peak of 87.4% in 1949 down to 68% today. During the same period of time, female … [Read more...]

BE PREPARED: Army Responds to Terrorist Attack Near Fort Bragg

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The Army is working to respond to the results of a terrorist attack on a power station near Fort Bragg in North Carolina. Many soldiers and their families have been affected, and the power outages could last for some time. Residents of Moore County, including the Army personnel there, are facing a cash-only economy, with electric payments systems knocked out, and many are relying on local assistance for food and water. They could be facing days without electricity. The Army Times reports: Tens of thousands of people braced for days without electricity in a North Carolina county, which … [Read more...]

SPAC-TACULAR COLLAPSE: Billions in SPAC Deals Disappear

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You've read that Your Survival Guy doesn't invest in SPACs. The problem is that you invest, and they win. You take on risk, and the founders reap the rewards. Now investors in some well-known SPACs are suffering the consequences. Bailey Lipschultz reports on the recent SPAC failures, writing for Bloomberg: One of the SPAC industry’s most well-known sponsors and a would-be serial backer have seen deals worth $10.6 billion go up in smoke in less than an hour. Alec Gores, one of the most well-respected sponsors, said Monday that Gores Holdings VIII Inc. would not be merging with materials … [Read more...]

ESG, Richard Young, Jack Bogle, and You

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Vanguard, one of America's largest mutual fund companies, is, according to Will Hild in The Wall Street Journal, violating an agreement with the Federal Energy Regulatory Commission (FERC) by meddling in the affairs of regulated utilities with its ESG policies. Hild writes: Americans are paying sky-high electricity rates and companies like Vanguard are making the problem worse. This week my organization, Consumers’ Research, joined 13 state attorneys general in a complaint against Vanguard at the Federal Energy Regulatory Commission. With more than $7 trillion in assets under management, … [Read more...]

Florida Dumps BlackRock in Fight Against ESG

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You have watched state after state push back on ESG investing as money managers use their power over the funds to pursue increasingly political ends. Florida has now joined others in pulling money out of funds at BlackRock, the money manager best known for doggedly pursuing its green agenda using ESG fund power. Angel Au-Yeung reports for The Wall Street Journal: The backlash continues for BlackRock, the world’s largest asset manager. Florida Chief Financial Officer Jimmy Patronis announced Thursday that the state’s treasury would begin pulling out $2 billion of assets that are currently … [Read more...]

Successful GOP Governor Explains the Party’s Failure to Take the Senate

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There have already been many postmortems of the 2022 midterm elections, but this one from New Hampshire's successful governor Chris Sununu, who was just reelected to his fourth term as the chief executive of the Live Free or Die state, has an idea about why GOP efforts fell short of initial expectations. He recently told an interviewer: As for why his party was far less successful than anyone had anticipated, Sununu was candid. “People just didn’t have any faith that the Republicans running for the federal seats were going to be the ones to fix the policies like inflation concerns that were … [Read more...]