You may have read in the WSJ yesterday: “States Revenue Shortfalls Exacerbate Budget Crunch.” My friend Chris Edwards, director of tax policy studies at Cato, had to laugh at the “states as victims” part. You’ve probably guessed why: “States as victims” is a common storyline in the mainstream media anytime that state budgets are not growing gangbusters. […]
Scott Walker’s Act 10 a Winner
You had two excellent op-eds yesterday focusing on public sector union reforms in Wisconsin or Act 10—a great model for every state. The first touched on the decline of union membership in right-to-work states like Wisconsin where, thanks to Gov. Scott Walker’s Act 10, “Union membership has fallen by 40% or about 136,000 workers in Wisconsin since public unions lost […]
This One Lantern Can Be a Beacon in the Dark
The Bell and Howell Taclight lantern is a great piece of equipment. I own several and have given them as gifts, and I suggest the same for you. Among the many features of this lantern are that it: Is twice as bright as an ordinary lantern Collapses smaller than a smart phone Weighs less than […]
What Dow 20,000 Means for Nasdaq Investors
Investors pay a lot of money to sound good at cocktail parties. Owning growth companies, often found in the NASDAQ Index, sounds exciting, cutting edge, and like a can’t miss investment. But good ideas often make for terrible investments, whereas good “values” make for great ones. That’s why you should always consider the value you’re getting […]
What Dow 20,000 Means to Me
Yesterday, the Dow hit 20,000 for the first time. I remember vividly when the index hit 10,000 back in 1999 (Chart 1 below). Dow 20,000 took 17 1/2 years—a 4.2% compounded annual return, not including dividends. And that’s the key—not including dividends. Because for those of us that have been dividend-centric investors, the road from […]
How Does the Stock Market Look for Trump vs. Obama?
You might be feeling optimistic about the stock market now that President Trump is in office. Most of my conversations this week have had an optimistic tone. But what does that mean for stocks? Let’s look at what we know. When President Obama took office during the housing bust, he inherited a stock market that […]
Drain the Swamp: Part IV
Here are three things that I’ve been thinking about over the weekend after Donald Trump’s inauguration speech. 1) It was hard to miss President George W. Bush’s reaction right when the speech was over. His face was a mix of shock and a “good luck with that!” expression. It captured the beauty of Trump’s message […]
Tucker Carlson is the Best at Explaining Trump’s Approach
Here Tucker Carlson, who I have enjoyed spending some time with at events hosted by the Cato Institute, explains President Donald Trump’s massive departure from the positions of both the Republican and Democrat parties. Here’s a little more about Carlson from FoxNews.com: Tucker Carlson currently serves as the host of FOX News Channel’s (FNC) Tucker […]
Drain the Swamp: Part III
“Idle industries have cast workers into unemployment, human misery, and personal indignity. Those who do work are denied a fair return for their labor by a tax system which penalizes successful achievement and keeps us from maintaining full productivity,” said Ronald Reagan in his Inaugural Address January 20, 1981. It was the last inauguration my […]
Drain the Swamp: Part II
As Donald Trump prepares to “drain the swamp,” it reminds me of this quote about Ronald Reagan and the folks who put both Trump and Reagan in office. “I never liked Reagan much,” Papaw later told me, writes J.D. Vance in his memoir Hillbilly Elegy, “But I hated that son of a bitch Mondale.” Vance’s […]
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