For years I have followed the excellent work of Eileen Norcross at the Mercatus Center. Norcross laid the foundations for my RIP Map, and is always a source of great information. Earlier this summer, Norcross and Mercatus Center research assistant Olivia Gonzalez, released a report Ranking the States by Fiscal Condition. Needless to say, if you’re […]
64 People Shot in Chicago
64 people were shot in Chicago over the Fourth of July weekend. Where’s the outrage? “Through June, there had already been 315 homicides in Chicago this year, which is a 49% increase over the first half of last year,” writes Jason Riley in the WSJ, author of Please Stop Helping Us: How Liberals Make it […]
Trump, like Reagan, a Lincoln Republican on Trade
As you know, some of the best intelligence comes from unexpected places. Recently my client Khushro Ghandhi and I were talking about politics and the market. To say I get an education every time I speak with him would be an understatement, as you’ll soon see. One day, to make his point he said to me […]
Trans-Pacific Partnership—Yea or Nay?
Nay! The governing document of the United States of America, the Constitution is only 4,000 words long. Thanks in large measure to Chief Justice John Marshall (1801/1835), the Constitution has, all too often, been twisted and shaped like wax (see Jefferson) into any form the supreme court wished. The TPP agreement comprises 30 full sized page chapters. The […]
Puerto Rico Bond Default?
Puerto Rico’s potential bond default could be an owner’s manual for overburdened U.S. states. Two days before a potential historical default, Puerto Rico Governor Alejandro Garcia Padilla made it clear that the commonwealth won’t pay bondholders even as Congress votes on a bill allowing the island to restructure its $70 billion in debt. “On July […]
Money for Nothing
From the WSJ’s Notable & Quotable: Sportscaster Vin Scully comments on socialism while Herman Perez is up to bat: Perez, 25 years old, originally drafted by the Tigers. Lives in Venezuela. Boy, can you imagine, you’re a young kid playing in the United States, you’re from Venezuela, and every time you look at the news […]
Pensions: Left on the Hook will be the Taxpayer
Ike Brannon, a visiting fellow at the Cato Institute, explains how the Puerto Rico rescue makes state pensioners the big winner. Right now, states cannot declare bankruptcy, which is one reason why states have traditionally been able to borrow at such low rates of interest. However, financial markets have come to realize, belatedly, that Illinois […]
The Private Sector vs. the Lethargic Federal Government
James Freeman of the WSJ writes some inspiring news. His focus is on the recent fire-ravaged Canadian province of Alberta and the “much-maligned” oil companies that spontaneously helped in the recent rescue effort by providing food and shelter to more than 25,000 people. As St. Lawrence University economist Steven Horwitz notes, “That shouldn’t surprise anyone […]
The Republican Party, the Party of Protection
Pat Buchanan succinctly lays out the real history of the Republican Party as “The Party of Protection”: In the 1895 “History of the Republican Party,” the authors declare, “the Republican Party … is the party of protection … that carries the banner of protection proudly.” Under protectionist policies from 1865 to 1900, U.S. debt was […]
The Death of Money
Is this what the death of money looks like? Whatever your thoughts on Harriet Tubman vs. Andrew Jackson, is futzing with currency portraits the priority of the Treasury Dept.? With negative rates the world over, cash is becoming a luxury. Government wants your cash. Bureaucrats will never be satiated no matter how many of your […]
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