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A Defiant Elon Musk on ‘Taxing the Rich’
“The power to tax involves the power to destroy.” –Chief Justice John Marshall Recently, Tesla and Space X CEO Elon Musk was asked about the movement to tax the super rich, who are not paying their “fair share.” Here was his astonishing reply: “It does not make sense to take the job of capital allocation away […]
How Most Investors LOST Money in the #1 Best Performing Mutual Fund Ever!
“Nothing is more difficult than holding on to your stocks in a bear market.” — Mike Turner (“Maxims of Wall Street,” p. 109) Even though he retired 34 years ago in 1990, Peter Lynch is a legend on Wall Street. He started off as the manager of a tiny mutual fund at Fidelity Investments in […]
Attention, All Busy-men. Take a Break for Five Minutes to Read This Story
“Most people are too busy earning a living to make any money.” – Joe Karbo, “The Lazy Man’s Way to Riches” “O wise humanity, terribly wise humanity! How inscrutable is the civilization where men toil and work and worry their hair gray to get a living and forget to play!” – Lin Yutang, “The Importance […]
I’ve Joined the Cancel Culture!
“In the new order, socialism will triumph by first capturing the culture via infiltration of schools, universities, churches and the media by transforming the consciousness of society.” — Antonio Gramsci (1891-1937) I used to subscribe to both Sports Illustrated and Scientific American. Alas, Sports Illustrated started going downhill when it began publishing its “swimsuit” issue, […]
Three Worldly Philosophers Rule the World: Who’s on Top Now?
“By the collision of different sentiments, sparks of truth strike out, and political light is obtained.” — Benjamin Franklin Last week, I was walking through the exhibit hall of the American Economic Association (AEA) conference in San Antonio, Texas, and saw an interesting display called “VOTE.” I noticed a poster with the picture of the […]
The One Thing Missing from the College Classroom
Last weekend I attended and participated in the American Economic Association (AEA) meetings in the beautiful city of San Antonio, home of the Alamo and the famed Riverwalk. Somehow I was able to navigate through all the sessions on gender and discrimination and found a few important meetings on the economy, which is supposed to […]
The Little-Known Reason We’ve Avoided a Recession (So Far)
“Supply-side tax cuts put a resilient floor under economy and boosted profits, despite Fed hitting the brakes.” — Larry Kudlow, Fox Business The economy has surprised many pundits who have predicted an economic tsunami and a stock market collapse in the face of the Fed’s aggressive tight-money policy. My monetarist friends such as Steve Hanke […]
Bizarre Books in My Basement
The holidays are a good time to read a good book. Nothing heavy, but just light entertainment. Over the years, I’ve collected books with strange and provocative titles. I even have a book entitled “Bizarre Books,” by Russel Ash and Brian Lake. Last August, I wrote a column based on the intriguing title, “The Courage to Be Disliked.” […]
Outlook for 2024: Down We GO?
It’s at least conceivable that gross output is a leading indicator of the economy.” — Peter Coy, Economics Editor, NY Times One of the highlights this year was my gross output (GO) statistic making the Aug. 7 issue of TheNew York Times: “What GDP’s Cousin Can Tell Us About the Economy.” See it here. Gross output […]
Is It Time to Catch Latin Fever?
“Don’t buy what’s hot — buy what’s not!” — Rick Rule (“Maxims of Wall Street,” p. 38) Special Note: Attention all holiday shoppers and subscribers: Orders for my books are still coming in. Before I left on my Latin American cruise, I signed copies of the new editions of “The Maxims of Wall Street” and “Economic Logic.” […]
