Commentary Something rare is happening in China. Protests and boycotts are expanding. Not for democracy, exactly, as in 1989 in Tiananmen Square and up to 2020 in Hong Kong. The protests today—from Beijing to Guangxi and recently in Hong Kong—are outwardly against property developers who absconded with down payments, never to deliver the promised apartments. These…
China’s Mortgage Revolt
August 28, 2022
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Business & MarketsBusiness Columnistsmortgagemortgage boycottsOpinionproperty developersThinking About China
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Joe Biden the Inflationary Reverse Robin Hood
August 28, 2022
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Business & MarketsBusiness ColumnistseconomyExecutive BranchinflationOpinionPoliticsstudent loanUSViewpoints
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Commentary The Democratic Party has finally confirmed beyond any further debate that it is the party of the rich. Democrats already insulted the intelligence of the American people with an inflationary tax-and-spend monstrosity they had the audacity and mendacity to call the “Inflation Reduction Act,” which the geniuses at National Public Radio explain removes “a…
Powell Warns Wall Street That the Punch Bowl Is Empty
August 28, 2022
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Business & MarketsBusiness ColumnistsFederal ReserveinflationJay Powellmonetary policyOpinionViewpoints
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Commentary Markets trimmed over 3 percent by Friday’s close after Federal Reserve Chairman Powell offered up a stark eight-minute soliloquy telling Wall Street’s “Masters of the Universe” to straighten up, fast, because the Fed was not going to refill the punch bowl. I said in my July jobs report that the prognostications of the stock peddlers-cum-“analysts”…
Biden’s Pyrrhic Legislative Victories
August 26, 2022
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Build Back BetterBusiness & MarketsBusiness ColumnistsChips for AmericainflationInflation Reduction ActInvestmentOpinionPolicies & ImpactsrecessionUSUS NewsUS productivityViewpoints
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Commentary In August, the Biden administration and Congress celebrated their third legislative victory in less than a year. As with Russia’s invasion of Ukraine, they are celebrating Pyrrhic victories. As Russia’s invasion will seriously undermine Russia’s living standards, President Joe Biden’s massive government expansion will stifle U.S. growth for years to come. It often takes…
How Interest Rates Affect Monthly Payments—The Math
August 26, 2022
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30-year mortgageBusiness & MarketsBusiness Columnistseconomyinflationinterest ratesInvestmentOpinionrecessionViewpoints
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Commentary The party’s over for many would-be homeowners. The “party” I’m referring to is the historically low interest rates that made borrowing money the most affordable it had ever been. As of August 2022, the average interest rate on a 30-year fixed Freddie Mac mortgage is 4.99 percent, which is up from about 2.68 percent…
The Why of Quiet Quitting
August 26, 2022
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AnalysisBusiness & MarketsBusiness Columnistsjobsminimum wageOpinionquiet quittingrecessionworker productivity
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Commentary In one of my first real jobs, I was standing with some employees on the sales floor of a men’s suit shop and the boss walked by. “Please straighten up these ties, fellas,” he said. My friend waited for the man to move out of earshot and said: “No way am I doing that…
Washington’s Flawed New Law: Part 2
August 26, 2022
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Business & MarketsBusiness ColumnistsInflation Reduction ActIRAOpinionThinking About ChinaViewpoints
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Commentary This article is the second of a three-part series on the problems with the recently passed Inflation Reduction Act (IRA). The first in this series introduced the act and took up its focus on Washington’s preferred green initiatives. This second part will take up the revenue sources that the law dubiously claims will more than…
The Rule of 20 and Why the Bear Market Remains
August 25, 2022
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Commentary The “Rule Of 20” says the “bear market” may just be resting despite much commentary to the contrary. In a recent Investing.com article, Bank of America strategist Savita Subramanian warned clients that stocks are still expensive despite this year’s drawdown. “Our analysis of the ERP indicates a 20% likelihood of a recession is now…
A Billionaires’ Woke ‘Republic’?
August 25, 2022
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Bill GatesbillionairesBusiness & MarketsBusiness Columnistseconomic policiesland policyOpinionViewpointsWarren Buffett
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Merriam-Webster defines a republic as “a government in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law.” In our republic, Democrat activists now aim to eliminate the Senate filibuster, which requires a two-thirds majority to pass…
The Real ‘Inflation’ Effect
August 25, 2022
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Business & MarketsBusiness ColumnistseconomyFederal ReserveinflationMarketsOpinionrecessionU.S. TreasuryViewpoints
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Commentary If you’re the CEO of the world’s largest retailer, you’re not off to a great start if you are highlighting sales of men’s flannel. Yet, such was the case for Walmart’s chief executive, Doug McMillan. Consumers are behaving differently than they had last year, even when compared to earlier this year, and this poses…
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