I always love Larry Kudlow’s enthusiasm and can-do attitude. It’s the spirit for what our economy is built upon. Kudlow knows there's a fine line between success and failure, and that it's freedom that makes the difference. Before the unpredictable China virus hit American shores, Larry Kudlow had helped Donald Trump craft an economic policy that had driven unemployment levels to near record lows (see my chart below). In a speech to the Republican National Convention last night, Kudlow promised more tax cuts and regulatory rollback in Trump's second term. He specified: Payroll … [Read more...]
Investors Facing Long-Awaited ETF Industry Shakeout
You have probably invested at some point in ETFs or ETNs. The exchange-traded investments have thrived for decades now as a lower-cost and more efficient alternative to mutual funds. But after years of huge fund companies issuing new ETFs and ETNs by just throwing products at the wall to see what stuck, the industry is shaking out. The Wall Street Journal reports that this year alone 188 exchange-traded products have been shut down. Michael Wursthorn writes: Asset managers have closed more exchange-traded products than they have launched this year, a sign of how market gyrations have … [Read more...]
Despite COVID, Small Businesses More Optimistic in Trump Era vs. Obama Era
Even after the crushing punishment blue state governors have wrought on small business owners, they are still more optimistic under President Trump today than they were for nearly the entire Obama-era. Blue state governors have come out to protect the rich, but President Trump has worked hard to get America's small businesses running again. Some governors, like South Dakota's Kristi Noem, have helped. States like South Dakota that have remained open have fared better than the lockdown states. Americans working in the service industry also feel better now than they did in most of the … [Read more...]
You Know in Your Gut Why My September RAGE Gauge™ Concludes This
Pre-China virus, anyone who wanted a job could get one. But for some, no matter how loud an economy roars, they’re too lazy to work. For them, any economy is a bad economy because living off your taxed wages is a whole lot easier. Let’s not forget, it’s the Real Americans who create jobs, have a job, or work for the benefit of their family for a lifetime. For them life is hard but it’s worth working for and worth following the virtue of perhaps doing what they must do to make ends meet—not look to someone else to do it for them. Meet the Real Americans, not the lazy ones. Stupid kids are … [Read more...]
Looking to ReFi? You May not Get Those Record-Low Rates Everyone’s Talking About
You are your most valuable asset. I explained to you the mental checklist you should examine when setting goals. First on that list was being out of debt. In America that usually means owning your home, outright. I suggested you get rid of your mortgage, or at least do a refi to a 10 or 15-year mortgage that will make you a real homeowner sooner rather than later. The financial media have been shouting from the rooftops about the record low mortgage rates available today. But you need to be careful if you're pursuing a refinance mortgage. Ben Eisen explains at The Wall Street Journal … [Read more...]
Why You Are Your Most Valuable Asset
You have the unique ability to understand your financial situation if you can take emotion out of the equation. But unless you have an investment counselor you speak with regularly, that's a hard ask. We all get a little uptight when it comes to our money. I'm here to help you breathe a little deeper and to gain some much-needed focus. Here are my top five boxes for you to check as a mental exercise for goal setting. You'll know which ones apply to you. ☐ You're out of debt. You own your home. You and I know homeownership is an expensive endeavor. The cash goes out the front door, … [Read more...]
California’s Power Failure is a Preview of the Green New Deal
If you want to get a glimpse of what the Green New Deal will do to America, then take a look at California. The Wall Street Journal's editorial board writes: Electricity blackouts are awful at any time, but especially during an extreme heat wave and for reasons that are man-made. That’s what millions in California have been enduring in recent days, and their plight is a warning to the rest of America about the risks of Green New Deal policies. The California Independent System Operator (Caiso), which manages the state’s power grid, declared a high-level emergency Friday and Saturday … [Read more...]
EJ-When I Read Your Piece: “You Want Maine Lobster”
EJ- When I read your piece “You Want Maine Lobster” it brought back memories of my days of frequent trips to the Boston area. My biggest customer at the time (1971-1978 or so) was Air Force Systems Command at Hanscom AFB. I was there probably two times a month for several years, sometimes staying over a weekend if we were negotiating a contract or other lengthy meetings. We almost always had one dinner at a roadside restaurant along a dark rural stretch of some road, possibly 2A. I don't remember the name of the place, but I always got a chicken lobster, fries and a beer or two. I think … [Read more...]
“E.J./Survival Guy what a RELIEF to be out of the City”
You’re telling me you want peace of mind and security for your family and that you’re sick and tired of the unrest in your city. You’re also telling me you beat inertia and packed your bags. Don’t despair over all the boxes. From a client: “E.J./Survival Guy,” We finally completed our move this last week and our new address is: (not in the city). We are still waiting for our land line phone to be hooked up so you can reach us on the cell. We want to send the proceeds of our sale to our Fidelity account for you to manage. What a RELIEF to be out of the city. Talk to you soon.” Your … [Read more...]
Investing in the Fog
You’re telling me about the fortunes to be made in bitcoin and blockchain and I’m telling you the bloom is off the rose. If you’re reading about it, chances are the fortunes have been made or they will be when the buyer pockets your money. Remember, as Andy Kessler writes, investing can be like navigating in the fog. If you can see the bridge, you’re too late. … [Read more...]
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