Commentary The underperformance of the latest form of “woke activism” in finance, called Environmental, social, and corporate governance (ESG), will be the strategy’s eventual undoing. We have discussed the many problems with ESG investing in previous posts. The Great Wall Street Money Heist Wall Street Wins Again As ESG Infiltrates Retirement Plans In those previous…
A Misguided Green Fed Mandate
February 25, 2022
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Business & EconomyBusiness Columnistsclimate changeFederal ReserveGreat Leap ForwardOpinionViewpoints
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Commentary In August 2021, a group of lawmakers including Reps. Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.), Ayanna Pressley (D-Mass.), Mondaire Jones (D-N.Y), and Chuy Garcia (D-Ill.), issued a public statement to President Biden, “As news of the possible reappointment of Federal Reserve Chair Jerome Powell circulates, we urge President Biden to reimagine a Federal Reserve focused…
Wall Street’s Latest Stealth Threat to the Global Economy, and Your Money
Commentary Investors are always looking for ways to earn above-market returns—and Wall Street is always happy to come up with some creative ways to oblige. Back during the 2008 meltdown, they fed the market’s appetite for yield with something called collateralized debt obligations or CDOs. These weren’t new innovations. They were created back in 1987…
The Industry Behind America’s Money Problems
February 25, 2022
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Bank of AmericaBusiness & EconomyBusiness ColumnistsConsumer Finance Protection BureauOpinionRothschildViewpoints
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Commentary In their glorious magnanimity, Bank of America has announced it’s cutting its overdraft fees. Now when you stretch past your means, you’ll no longer be penalized $35 … but only $10. (Of course, that doesn’t start until May.) More banks are expected to follow this trend. It’s no small act of generosity on their…
Recession Is in the Cards
Commentary March approaches, the month that the Federal Reserve (Fed) promised to show its anti-inflation hand. It will, Fed Chairman Jerome Powell has announced, cease its quantitative easing and begin to raise interest rates. Unless favored heavily by Lady Luck, whatever steps the Fed takes will bring market and economic pain and, in time, probably…
The Fed, Money Supply and Stock Prices: Part 2
Commentary Previously, I explained how the Fed’s policy of buying and selling securities impacts interest rates and stock prices. The biggest change in purchases (or sales) in securities occurred from mid-2007 through mid-2008. Then, the Fed sold 40 percent of its holdings of securities. The move reduced this component of money back to 1999 levels….
Current State of the Trucking Industry in America
Commentary Every product in America travels on some type of truck. Trucking moves roughly 70 percent of all freight in the United States and nearly 80 percent of American consumers depend on trucking for the delivery of everyday items and commodities, and specialty items like medicines, fuels, and raw materials. Industries like construction, healthcare, and…
The Invisible ‘Energy Transition’
Commentary The world, we’re told, is not only undergoing an “energy transition” but an “accelerating” one. Except it’s not. This is not to suggest there’s anything false in all the headlines about record increases in electric car sales, or huge plans for more solar and wind installations, or massive government spending and mandates to effect…
India Bans Game Apps on China Surveillance Fears. And the World Should, Too
Commentary Shares of Sea Ltd., a Singapore-based technology company, slumped over 18 percent on Feb. 14 after India banned 54 game apps, including Sea’s popular Free Fire game. While Sea is located in Singapore, its American depositary receipts (ADRs) are listed on the New York Stock Exchange (NYSE). While it is the city-state’s most valuable company…
FDR Wasn’t the Only One Who Declared War on Gold to Save Paper Money
Commentary Desperate times call for desperate measures. Or tyrannical men do tyrannical things when it comes to propping up paper money whose value is circling the drain. The Financial Times headline screams, “Turkey to Target ‘Under the Mattress’ Gold in Effort to Bolster the Lira.” This in the same week that “[n]ewly appointed Turkish finance minister Nureddin Nebati delivered a…
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