Commentary It is interesting in the extreme that Jeff Bezos, second-richest man in the world, Amazon founder, self-propelled astronaut, and confirmed liberal who lavished the Obama Foundation with $100 million and bought (likely saving) The Washington Post, which he then turned into a leading digital media innovator, is now an unlikely enemy of the Biden…
An Inflation Offset? Consumers Staying Home
Commentary Could a small reprieve from inflation be on the horizon? Sagging consumer confidence and excess inventory could very much push the prices of some goods lower, with retail giants warning that their profit margins will be cut heading into the important fall shopping season. The Conference Board, which measures the temperature of the U.S….
Civil Society and Counterrevolution Against Progressivism
Commentary When Murray Rothbard and Lew Rockwell defined the paleolibertarian doctrine, they simply wanted to break the clock of social democracy and repeal the 20th century, during which some of the greatest horrors in history were created from the deranged ideas of power-hungry 19th-century intellectuals by applying these ideas with the full might of the state, costing…
June Jobs Beats Estimates; Recession Is a ‘Jump Ball’
June jobs printed at 372,000 new jobs, well above the consensus estimate of 268,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last June’s 5.9 percent. The labor force participation rate was 62.2 percent, up from the 61.6 percent that printed in June 2021, but down 10 basis points (bps, defined as 1/100th…
Entrepreneurship Should Be the Goal, Not White-Collar Jobs
Commentary Black entrepreneurship in the United States has a remarkable history. Even during the inhospitable climate of Southern slavery, both enslaved and free blacks managed to establish lucrative ventures. Research on black entrepreneurship has revealed that in the Antebellum South black entrepreneurs’ pursuits spanned the entire gamut of industry, ranging from merchandising to transportation. Indeed, the success of…
Yes, They Were Socialists: How the Nazis Waged War on Private Property
July 8, 2022
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Business & MarketsBusiness ColumnistseconomyinflationMarketsNazi GermanyNazismOpinionrecessionsocialismViewpoints
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Commentary When the average person thinks of the Nazis, what often comes to mind is World War II, the Holocaust, and rousing speeches of hate. However, the National Socialists also had economic and political policies, policies many just assume were either free market or New Deal-style public works projects like the Autobahn. But Nazi policy…
The ‘Bullwhip Effect’ Will Frustrate the Fed
Commentary The “Bullwhip Effect” has gotten the media’s attention. However, the market and monetary policy’s causes, effects, and consequences are not well discussed. To understand its impact on the financial ecosystem, we need a definition of what this effect is. The bullwhip effect is a phenomenon in the distribution channel where demand forecasts create yield supply chain inefficiencies. The “bullwhip effect” refers to…
Whither Goes Real Estate?
July 8, 2022
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Business & MarketsBusiness ColumnistsFederal Reserve (Fed)HomebuyinginflationOpinionreal estateThinking About ChinaViewpoints
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Commentary Real estate increasingly will face two contrary forces. On the one hand, buying will suffer as rising mortgage rates render home ownership less affordable. On the other hand, ongoing concerns about inflation will drive buyers into real estate, for history shows that it provides inflation protection for their wealth, especially in the face of…
Chinese EV Maker BYD Is Beating Tesla
July 8, 2022
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Business & MarketsBusiness ColumnistsBYDChinaElectric VehiclesOpiniontariifsteslaThinking About China
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Commentary The competition over electric cars is heating up, and China’s BYD just pulled ahead of Tesla. BYD sold 641,000 vehicles in the first six months of the year, with Tesla selling just 564,000. Tesla only sells electric vehicles (EVs), whereas one of BYD’s strengths is not only EVs, about half of unit sales, but…
The Failure of Market Timing and the Value of Risk Management
July 8, 2022
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american stock marketBusiness & MarketsBusiness ColumnistseconomyinflationInvestmentOpinionrecessionViewpoints
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Commentary Many advisors promote passive investment strategies by pointing to studies showing investors fail at “market timing.” Such was a point made recently by Ralph Wakerly. To wit: “So-called experts are telling us about the coming uber-bear or why the bull market will continue. Yet the data show that predicting the market’s direction to time buys…
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