“Why is this happening?” You ask yourself. “Why is our supply chain broken? Why are there ghost ships rotting away in global ports and off the shores of California?” When one of these ships loaded with volatile ammonia sat for years in Lebanon, and then they finally unloaded it onshore, it blew up, killing hundreds of people in the resulting explosion. Was it an accident? When you read about the crews stuck on these ships, being treated like slaves, barely surviving on months of rice and water, a simple question comes to mind. Why are the owners abandoning ship? What businessman would leave … [Read more...]
Survival SUPER States: A Place to Call Home
When you can’t even send your kids or grandkids to public schools, you ask yourself, “What am I paying for?” When your local police force is gutted, you ask yourself, “What am I paying for?” When your politicians treat you like a piggy bank you ask yourself “What am I paying for?” This simple question is being asked at kitchen tables all over this country every single day. But it’s different this time, as big blue cities and states, usually the recipients of workers, are suffering from a once in a lifetime exodus to RED STATES. As retirees tell loved ones “Don’t worry we’ll be back to … [Read more...]
FOLLOW THE DRUG MONEY: America’s Broken Healthcare System
You really can’t make this stuff up. Do we need yet another example of how our healthcare system is broken? Just follow the money. Not that I’m buying into this cure-all pill. Alex Berenson writes on his Substack: Yes, molnupiravir - a pill to treat Covid - seems to reduce hospitalizations and deaths, assuming Merck’s press release from last week holds up. But it is yet another story of the US health care system and drug development gone awry. A Miami hedge-fund manager and his wife - Wayne and Wendy Holman - are likely to make hundreds of millions of dollars, possibly billions, on it - … [Read more...]
FORGETFUL JOE: Biden Can’t Remember Who He’s Fighting For
You know I’m a fan of Joel Kotkin. His work on America’s Growth Corridors is top-notch. His writing on demography is also enlightening. Now, Kotkin exposes the hypocrisy that underlies Joe Biden’s career as a politician. Despite advertising himself as “working-class” Joe, Biden is constantly looking out for his corporate backers. Kotkin writes: Joe Biden may present himself as a ‘working-class hero’, a claim reiterated recently in the leftist American Prospect, but increasingly America’s workers are showing signs not of common cause but disquiet. Hollywood workers just announced … [Read more...]
Quarters in My Loafers Trying to Beat Inflation
You can’t put a price tag on freedom, or maybe you can. Because, if you know what you’re paying your bank every month to live in the house they own, you know exactly the price. Yesterday, I received an email from a married couple. They’re clients. And it just so happens they celebrated their 25th wedding anniversary the day before and have decided to pay off their mortgage. Do you remember when you paid off yours? I do. It felt great. And the only reason it happened was because Becky and I were motivated to get it done. Why? Because we never forgot the arrogance of the mortgage lender … [Read more...]
MAYDAY: Black Smoke Rising from Your Survival Guy’s Boat
You don’t mess around with smoke on a boat. Which is where Your Survival Guy found himself last Saturday preparing to bring our boat, Tom Sawyer, back to Newport after a two-week stay on a mooring I keep in Mattapoisett. (You can read here about how my yard went up in smoke). Turning the engines over, they just wouldn’t catch. I checked the safety kill switch. It was connected. Made sure I wasn’t in gear (Read here about that one from last summer.) Check. Tried the engines again. No go. But this time, I saw smoke rising through the console from down below, along with the smell of burning … [Read more...]
HELLO: “How’s It Going? I Don’t Know Anything”
“How’s it going?” I ask. “Good,” he replies. “I don’t know anything.” And with that, I know he’s good because he’s been telling me that for twenty years now. Now, I can assure you when he says he “don’t know anything,” he knows quite a bit. Because you see, he quit a lucrative job in his 30s to go to medical school simply to try his hand at being a doctor. He, we’ll call him Doc now, is still working part-time as a doctor in his 70s. When telling me the story, his brother-in-law, also a client, tells me Doc’s the smartest guy he’s ever met. Another client, the brother-in-law’s best … [Read more...]
Why You Can’t Afford to Miss the Boat
You can’t afford to miss the boat, especially when it comes to making money. But it happens all the time with investors. They let inertia slow them down, arriving at the docks too late or deciding not to take the voyage at all. They end up doing nothing for years on end. That’s not investing. Countless studies show that simply missing the best handful of days in stocks in any given year can be detrimental to one’s portfolio. Sure, you might feel good missing the latest slide in stocks, but we’ve been in this bull market run for a long time. It’s not a bad thing for stocks to take a breather … [Read more...]
Why Bond Mutual Funds and ETFs No Longer Work
OK, third-quarter report cards are in, and investors want to know how they did. But perhaps just as important, they want to know the WHY behind the performance. When it comes to mutual funds and ETFs, there’s a better way to go, especially when it comes to choppy markets, which have been tough as of late. Why are bond prices down? Because interest rates have risen just a tiny bit, and bond prices move in the opposite direction of rates. Over the quarter, especially the last few weeks or so, interest rates have risen enough to lower prices for bonds this quarter. But we’re talking about a … [Read more...]
OUT OF OFFICE: Big Accounting Firm Tells 40,000 Employees to Stay Home
More companies are recognizing the benefits of having employees remain at home. Accounting firm Pricewaterhouse Coopers has told 40,000 of its staff that they can continue to work remotely, forever if they choose. Moves like this by big companies will undoubtedly be a boon for "Zoom towns" across America. Daily Mail reports: Working from home is about to become permanent option for 40,000 client services employees at accounting and consulting firm PwC. The company will become one of the biggest employers in America to embrace permanent remote work. PwC employees who choose to work … [Read more...]
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