As the 2020 presidential primary election season heats up, some of the nearly 20 Democratic contenders are suggesting proposals that are more than a bit socialist in nature. One of the leading contenders, Sen. Bernie Sanders, has proposed Medicare for all. The proposal would displace the massive private insurance industry, and his suggestion led to market volatility. The proposal rocked markets, and sent share prices of healthcare stocks dropping. Sanders isn't the only candidate offering up such economy-shifting proposals. In his rhetoric however, Sanders is going after individual … [Read more...]
Do You Want the Fed to Raise Prices?
Fed Chairman Jerome Powell is poised to make raising American prices a priority for the central bank. The questions that must be asked is, do Americans want that? Despite low inflation, there doesn't seem to be a public outcry for raising the prices of consumer goods. With both unemployment and inflation low, the Fed would seem to have hit a sweet spot in achieving its dual mandate. Powell seems determined however, to raise inflation a few basis points, no matter what policy levers he must pull. Bloomberg's Rich Miller and Craig Torres write: Federal Reserve Chairman Jerome Powell and his … [Read more...]
As Disney Moves to Consolidate Hulu, AT&T Prepares its Own Netlflix Competitor
After many delays and false starts, it seems as though the big media companies are finally prepared to offer Netflix some real competition. Disney now owns 60% of Hulu, and could soon own more. Hulu has purchased AT&T's 9.5% share (acquired when the telecom purchased Time Warner). Now Disney and Comcast, the only two large remaining owners of Hulu will have to negotiate on how much of the purchase each receives. Disney is preparing to use Hulu as the counterpart to its family streaming offering, Disney+. Hulu will host shows with more adult themes. Meanwhile, AT&T is preparing its own … [Read more...]
Americans Did Actually Get a Tax Cut, Despite the Spin
Despite what most Americans may have heard in the news, the vast majority of taxpayers did get a tax cut from the 2017 Tax Reform signed by President Trump. Sahil Kapur and Laura Davison report for Bloomberg: When the law passed, McConnell said, “If we can’t sell this to the American people, we ought to go into another line of work.” He added that the GOP merely needed to tell the public “that you have more money in your pocket.” Perceptions But an NBC/Wall Street Journal poll this month showed that just 17 percent of Americans believe their taxes have been cut. A Reuters/Ipsos poll in … [Read more...]
Early Signs of Stress in the Private Equity Market
At The FT, Patrick Jenkins sounds a warning about the private equity market. He suggests that the recent flurry of retail failures is a sign that all is not well in private equity. He writes: Few commentators today are forecasting an imminent housing crash. But something similar may be threatening a segment of the global economy — with potentially more serious consequences. The private equity market, which relies on leveraged borrowing much like a mortgage on a house, is showing some early signs of stress — and you do not have to look far to spot it. The UK high street is under pressure … [Read more...]
Are You Retired? Have You Seen These Six Tax Changes that could Affect You?
At The Wall Street Journal, Anne Tergesen explains six changes to the tax code in the 2017 tax reform law that could especially affect retirees. She writes (much abridged): 1. Higher standard deduction: Many retirees, especially those who have paid off mortgages, take the standard deduction. For them, one positive change is the near-doubling of this deduction, or the amount taxpayers can subtract from their adjusted gross income if they don’t itemize deductible expenses including state taxes and charitable donations. 2. A tax break for charitable contributions: Retirees who take the … [Read more...]
Do Investors Want ETFs with Fewer Disclosures?
Asset managers have been begging the SEC to allow them to hide their ETF holdings for years, with the simple argument that they can't deliver market beating returns if all their competitors know what they're holding at all times. Currently ETF managers are forced to disclose their holdings each day, but the disclosures haven't allowed for managed ETFs to take off because managers can't maintain secrecy. A new decision from the SEC could change all that, allowing managers to hide their assets better, but do investors even want that? Annie Massa and Rachel Evans report at Bloomberg: After more … [Read more...]
Walmart’s Robot Army
Walmart has deployed an army of robots in its stores to monitor inventory, clean floors and unload trucks. The effort to increase efficiency comes at a time when the company's chief competitor, Amazon, has used robots to revolutionize its fulfillment centers. The race is now on, as mega-retailers are finding the best ways to incorporate robots into their businesses. Sarah Nassauer and Chip Cutter write in The Wall Street Journal: The country’s largest private employer said at least 300 stores this year will add machines that scan shelves for out-of-stock products. Autonomous floor scrubbers … [Read more...]
Retail Wars: CVS Launches Nationwide Same-Day Rx Delivery
In an effort to catch up in the retail delivery war, CVS has announced the roll-out of nationwide same-day prescription delivery. CVS announced: CVS Pharmacy, the retail division of CVS Health (NYSE: CVS), today announced that it is now offering prescription delivery within hours in addition to their 1-2 day prescription delivery service available nationwide. The service, delivered by Shipt, a leading same-day delivery marketplace, is available at 6,000 CVS Pharmacy locations across the country, giving patients a faster and even more convenient way to get their medications. "A year ago CVS … [Read more...]
Can Electric Car Batteries Catch Up to this Charger?
Automakers are currently racing to fix one of the most significant problems with electric vehicles, charging times. Ultra fast chargers are available that could add 215 miles of range to a battery in 10 minutes, if today's batteries could handle it. Unfortunately they cannot, and so automakers are looking for solutions. Bloomberg's David Stringer reports: A typical, slow-speed public EV charger offers about 20 miles of driving distance per hour at the plug. The next level up, called a fast charger, can add about 75 miles in 30 minutes, according to Los Angeles-based station operator EVgo … [Read more...]
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