When stocks were down 1,600 points yesterday, “The websites of two of the country’s biggest robo-advisers—Wealthfront Inc. and Betterment LLC—crashed,” reports Bloomberg. I’ve never been comfortable with the idea of robo-advisers. What if the technology ends up not working? Will the so called robos have the skill and patience that I know I have? Who […]
Bitcoin Down 70% from High
A central bank official quoted by the Wall Street Journal‘s Steven Russolillo and Andrew Jeong referred to bitcoin as the combination of a bubble, a Ponzi scheme, and an environmental disaster. That trifecta is only a symptom of the frenzied buying of bitcoin in recent months, followed by the somewhat predictable sell-off. Central banks are […]
Illinois’ Answer to Saving too Little? Borrow More and Hope
After years of under-funding its state pension programs, Illinois has come up with an idea that can be described as risky at best. Illinois plans to borrow money, and then invest that money, in the hopes of earning more than it must pay back in interest. If you don’t see the danger in using money […]
My Favorite Stories Leading up to Super Bowl LII
“The four never expected to be reunited later in life, but 20 years later, here they are going for another Super Bowl title,” writes WEEI sports radio network’s Ryan Hannable. They were teammates back in 1998 at John Carroll University and are coaches for the New England Patriots today: director of player personnel Nick Caserio […]
Your Survival Guy Under Fire!: Part I
“There’s a fire in your yard!” my neighbor said. “There’s a fire in your yard, call 911!” And that’s how Tropical Storm Hermine spun our quiet Labor Day Weekend in Newport, Rhode Island into a full on panic. It happened fast. I wasn’t prepared. And that should not happen, especially as “Your Survival Guy”. It […]
Disaster Relief: What Happens When the Government Stops Helping?
As I have written before, in Puerto Rico, the conditions today are unimaginable for most Americans. Some residents have been without power for months, and they have been relying heavily on donated food and water coming from FEMA and other organizations to subsist. Now, those Americans are faced with the departure of federal aid. NPR […]
My Takeaway from President Trump’s State of the Union Address
Even when called on to work together, Democrats sat on their hands during President Trump’s first State of the Union address. Despite a speech that at many times transcended partisanship, cheering on great American themes, Democrats seemed determined not to applaud during the president’s speech. House Minority Leader Nancy Pelosi was most noticeably annoyed during […]
Connecticut: Big Government Utopia Begins to Crack
After decades of close relationships with the public sector unions working for their towns and cities, mayors are begging to be protected from collective bargaining. With money running out, and undiminished power held by unions, mayors are finally beginning to understand why having powerful public sector unions makes it hard to balance budgets and provide […]
Illinois is About to Stick its Head Deeper in the Sand
For years Illinois has underfunded its five pension systems. For years I have been waving a red warning flag about the American pension charade (see here, here, here, and here for a small sample), but public pensions are controlled directly or indirectly by politicians. Those politicians don’t ever want to subject their constituents to the […]
Southern States on Tax Cuts: Bring it On!
While high tax Northern states are desperately attempting to find ways around new rules in the tax reform legislation passed at the end of 2017, the South is cheering them on. The problems stem from high state and local income and property taxes in the North that will no longer be fully deductible for federal […]
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