Author: smartistone

The Fly Writes: For the better part of 5 years now, the stock market has been rising, fueled by Federal Reserve asset purchases AND corporate profits. Our largest corporations have performed coups abroad, taken over whole cities, established governments, without firing a single shot. From my vantage point, from any vantage point, I’d say there… Continue reading Ignore the News and Keep Buying Stocks on the Dips

From Ta-Nehisi Coates’ Reparations article: Reparations—by which I mean the full acceptance of our collective biography and its consequences—is the price we must pay to see ourselves squarely Isn’t that the function of MLK day, the Civil Rights Act, and black history month? Furthermore, black people get monetary reparations through record entitlement spending and government… Continue reading Racial Matters

From The American Conservative: The Tricky Politics of Fighting Crony Capitalism For a website with the title Conservative, it sure seems to advocate a lot of liberal positions on issues ranging from domestic spying, foreign policy and crony capitalism. Liberalism is a bigger threat than crony capitalism. One could make the argument that crony capitalism,… Continue reading The Daily View: Crony Capitalism, Fallacy of Composition, and Compromise

Foreign Holdings of U.S. Treasuries This is why the debt binge is sustainable and why bonds and stocks are rallying together. Part of what makes America exceptional is not just its superior economy or superior military, but the great demand for its debt, especially compared to other countries. The left wants a debt crisis, but… Continue reading The Daily View: Debt, The Intelligentsia, Economic Compromise, Praise for the Do-Nothing Congress

From Ep. 21 College is a Scam With just a five percent acceptance rate and a policy of only admitting the best and the brightest, getting into Harvard (or any Ivy League school) signals to employers that the applicant has above average to genius level intellect; no diploma is necessary to prove his or her… Continue reading Is College a Scam?

The Slow Death of American Entrepreneurship No kidding. More people are realizing entrepreneurship is a big money pit due to the high failure rate, as well as a multitude of other factors such as competition, high borrowing costs and endless regulation. Why does small biz suck and large cap rule? 1. Uncompetitive borrowing rates for… Continue reading The Problem With Small Business

Economist Morici: Obama Destroying Americans’ Faith in the Country The GOP should return to be being the party of growth and optimism, says expert. “We need to stop obsessing about the fed and deficit and focus our attention to the most successful policies of past victories: defense spending, tax cuts and free market capitalism.” We… Continue reading Reclaiming The White House With Pro-Growth Policy

From Ashok Rao’s Inequality of Returns and Reinvestment Opportunity: – the only real source of long-run returns – is far more skewed than that of wealth ownership. The bottom 95% own all of their wealth in two forms: Explicitly: Home ownership which forces saving over a period of thirty years. Implicitly: Social security which acts… Continue reading Some Thoughts on Capital and Risk