The Wall Street Journal reports that Democrats want Joe Biden to forgive students loans, but that they don't want to have to vote on it. The Journal's editorial board writes: Forbearance was supposed to expire at the end of September, but Education Secretary Miguel Cardona says a four-month extension is necessary to give borrowers “the time they need to plan for a restart.” Pardon? They have the next two months to plan. Most don’t need that. The unemployment rate among bachelor’s degree recipients was 3.1% in July. Borrowers haven’t had to show they’ve been hurt by the pandemic to receive … [Read more...]
SEC to Review Payment for Order Flow
In the FT, Philip Stafford reports on a review of a number of issues currently facing markets, including payment for order flow. He writes: The top US stock market regulator is looking to change the rules around share trading, including fees paid by large Wall Street groups to handle customers’ orders, after January’s explosion in “meme stocks” highlighted what he called “inefficiencies” in the market. Gary Gensler, chair of the Securities and Exchange Commission, said on Wednesday that he had asked the agency’s staff to make recommendations to amend a host of market structure rules — an … [Read more...]
How Amazon Violates Anti-Trust Rules
Dana Mattioli and Joe Flint explain Amazon's questionable behaviors in The Wall Street Journal, writing: Executives from HBO Max complained about Amazon’s behavior during the negotiations to the House Antitrust Subcommittee investigating Amazon’s business practices, said people familiar with the probe. Amazon’s Mr. Evans said that there are occasions, including its talks with HBO, when companies are interested in exploring partnerships across multiple Amazon businesses. A former longtime senior AWS executive said that in recent years AWS has discussed how to better leverage its cloud … [Read more...]
Parents and Politicians Fight Abuse by Teachers’ Unions During Pandemic
There are still places in America where schools are closed. Despite a promise by Joe Biden that he'd have them open in his first 100 days (by April 30), teachers' unions in many places have no intention of opening schools. The selfish response to the pandemic by teachers' unions, who have left children at home dealing with the mental distress of isolation, has opened the eyes of many parents and politicians who are now fighting back. You've read a lot about West Virginia Governor Jim Justice here lately, and that's because he's leading a charge to make the state part of America's "growth … [Read more...]
Google’s App Store Discounts Reveal Antitrust Defense Strategy
Google is cutting fees for developers making less than $1 million from their apps. The company estimates that 99% of developers will benefit. If the discount was given last year, it would have reduced Google's $11.6 billion in commissions by only $585 million. That means 1% of Google's app developers were responsible for 95% of commissions. Apple has implemented a very similar system for its smaller developers. The strange part is, usually, companies reward their biggest moneymakers. If you're selling widgets, you're more likely to discount to the wholesaler buying 3,000 widgets than to the … [Read more...]
COVID Chaos: New York and California vs. Florida and South Dakota
Recently at YourSurvivalGuy.com, you read about the Butterfly Effect— that’s “the notion that a butterfly stirring the air today in Peking can transform storm systems next month in New York,” explained by James Gleick in Chaos. In other words, the weather is like a domino effect. But what about non-weather events? Like a dead animal in China. Look at the COVID storm we’re in today. What’s even more disastrous is how government officials in certain blue states (Cuomo in NY and Newsom in CA) have created chaos. You just can’t make it up, especially when compared to Gov/s Kristi Noem, SD, and … [Read more...]
Progressives Favor Monarchy over Democracy
Progressives in the Democratic Party are a reckless bunch, but their latest scheme to steal more from you and give it to their voters is truly idiotic. There’s no nicer way to put it. Earlier this week, Senate Majority Leader Chuck Schumer paraded out the most liberal group in his party and demanded the President forgive up to the $50,000 in student loan debt. Apparently, Schumer and Sen. Liz Warren have studied the issue and believe the President has the authority to single-handedly cancel student loan debt. Who knew Warren and Schumer favored monarchy over democracy? They want King … [Read more...]
Senate Tees Up Antitrust Legislation to Take on Big Tech
Sen. Amy Klobuchar (D-MN) is preparing a push for new antitrust legislation to take on Big Tech. Some scrutiny of Big Tech is needed, and antitrust seems like one of the better alternatives, but the left's instinct could be to go too far. Klobuchar and the President should try to attract Republican support on what should be an easy bipartisan win. Ryan Tracy reports for The Wall Street Journal: Sen. Amy Klobuchar (D., Minn.), the incoming head of the Senate antitrust subcommittee, will propose broad changes to U.S. antitrust laws Thursday as the newly Democratic-led Congress begins to press … [Read more...]
Starbucks Taking Market Share
Sadly, the casualties among businesses during the pandemic have been small businesses. Small coffee shops have not been spared. The beneficiaries of this ugly reality are big businesses. Starbucks is taking market share from mom and pop coffee shops that are closing their doors. Starbucks shares are trading at record highs. Andrew Edgecliffe-Johnson and Alistair Gray report in the Financial Times: If housebound consumers have discovered how much they can save by skipping their morning lattes, nobody told Starbucks’ chief executive. The global pandemic will only briefly interrupt … [Read more...]
Right to Work South Carolina Attracts Massive Investment from Walmart
You know that giving employees the Right to Work makes a big difference. Companies that can negotiate one-on-one with employees can invest in the most promising talents, and remove anyone trying to get a free ride. Giving employees the Right to Work kills the disease of forced unionism. It's possible no state has done a better job of capitalizing on its reputation as free from Big Labor's negative influences than South Carolina. Just take a look: Right to Work South Carolina is Flooded in Jobs Where to Live to Make a Living? Try this Southern Gem The Workers of Boeing in SC … [Read more...]
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