In Paris recently, I saw the sad but determined looks on the faces of the Yellow Vest protesters. They are angry about France's decreasing competitiveness, and that their jobs are being threatened or eliminated. Every Saturday for months now they have assembled in France's cities to mark their discontent, and they have received little in the way of a response from the Macron administration. The influence of the Yellow Vests and other unhappy Frenchmen was apparent in the recent EU parliamentary elections, in which President Emmanuel Macron's party was trounced by that of nationalist … [Read more...]
Possible Fed Nominee Questions Dual Mandate
Judy Shelton, a possible nominee for the Federal Reserve board of governors, has questioned the Fed's dual mandate, that is, to target full employment and stable prices. Traditionally the two goals are thought to be at odds with one another. Shelton isn't the first to question the dual mandate, and I agree with her that it does seem unworkable. Bloomberg reports on Shelton's comments here: Judy Shelton, a conservative economist being considered by the White House for a spot on the Federal Reserve’s Board of Governors, isn’t convinced the goals set for it by Congress are relevant for the U.S. … [Read more...]
Can Brick and Mortar Stores Ever Catch Up Online?
In response to Amazon's complete revolution of the retail industry, many companies with traditionally brick and mortar operations are racing to catch up online. Many are acquiring smaller online startups in an effort to to just that, but is it enough? Tige Savage reports at Revolution: Many top retail and consumer products companies are now facing the moment when their leadership is at peril as consumer behaviors permanently shift away from store-based buying and faceless packaged goods to online-oriented consumption and authentic brands. The megadeals everyone was talking about in 2016 … [Read more...]
China’s Rare Earth Threat is a Symptom of the Problem Trump is Fighting
Bloomberg has reported that China is threatening to restrict the supplies of rare earth metals as part of its ongoing trade war with the United States. This isn't the first time China has used rare earths as a tool in its diplomacy. People who know the history of China's rare earths dominance should understand instantly why such a threat is indicative of why America must get tough on Chinese trade policies in the first place. China didn't come to dominate rare earth metals because of its natural endowment, but instead because the country subsidized production in order to eliminate … [Read more...]
Are Your Tax Dollars Paying Ghost Workers?
There are ghosts among us. No not supernatural beings from beyond the grave, but ghost workers. These are employees who spend their time working on union business, but get paid by taxpayers like you and me. These workers are a drain on government resources, and quite possibly illegal in many cases. According to the Rhode Island Center for Freedom and Prosperity's Mike Stenhouse, ghost workers are driving up property taxes and appear to be illegal. He writes: Providence, RI-- One of the most objectionable schemes of collective bargaining contracts with government unions are provisions not … [Read more...]
Illinois Goes Back to the Trough
Illinois politicians, led now by Governor J.D. Pritzker, are aiming to end constitutional protections of taxpayers in Illinois, and to raise taxes on the wealthiest in the state. Naively, those politicians pushing for the increase in taxes presume that the move will prevent future deficits. Raising taxes hasn't seemed to do that in the past, so it is hard to imagine why that would work now. It seems more likely the tax increases will lead to a faster flight of Illinois' remaining wealthy citizens. Bloomberg's Elizabeth Campbell and Amanda Albright report: Illinois lawmakers paved the way for … [Read more...]
885 Million Financial Records Exposed Online
When I discuss financial security with clients and investors, I always encourage them to be proactive. The only person who will ever make your security the absolute highest priority is you. As part of my never complete efforts to protect myself from financial fraud, I have signed up for LifeLock (I am not a paid LifeLock advocate, I just believe in the product). Recently LifeLock users were warned of the exposure of 885 million financial records from First American Financial Corp. The company emailed users: On Friday, an independent security journalist revealed that First American … [Read more...]
Amazon Takes its Hands Off the Wheel in Purge of Small Suppliers
Rumor has it that Amazon is about to purge its small supplier in order to favor larger branded companies that can better supply its customers. The move will put Amazon into even more direct competition with Walmart and Target. Bloomberg's Specer Soper reports: In an emailed statement, an Amazon spokeswoman said: “We review our selling partner relationships on an individual basis as part of our normal course of business, and any speculation of a large scale reduction of vendors is incorrect.” Amazon secures inventory two ways. The company buys products directly from wholesale vendors, … [Read more...]
How the Rolling Stones Amassed a Fortune Where Others Have Failed
Last week Mick Jagger shared some video of his cardio workout routine. There he was dancing and moving to the music like only Mick can. Jagger was showing the world that, despite recent heart surgery, he is not slowing down. After years of hard touring and the excesses of the rock and roll lifestyle, Mick, Keith, and the rest of the Stones remain vital. During decades of near constant work, during which many of their contemporaries have failed, they have amassed fortunes. I described their investing process back in January of 2003. I wrote: Geezers in Wheelchairs… This year is the 40th … [Read more...]
Your Survival Guy Goes to College (Sort of)
Your Survival Guy went to college this week. Actually, I went on a college tour. Our daughter is a Junior in high school and that’s what you do, right? Driving with her for a couple hours in the car was a real eye-opener, because we not only talked about college in general, but she actually asked me questions. Questions from a teenager? It was an amazing feeling. She was relying on me for the answers, and not on social media. The college search is like the 800-pound gorilla in the room, or in this case our kitchen. Have you seen the books? The “best colleges in the world” books? They’re … [Read more...]
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