A Journal of Independent Research, Analysis, Opinion and Insight
11 19 21 WOWS FULL ISSUE An Alternative Way To View Or Print The Entire Current Issue As A Single Document 11/19/21 Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
“If your mission is to reduce the size of government, then anytime you can attack government spending — blame it for inflation — that’s a win.”
That quote is just a small sample of the pragmatic but erudite economic, financial and political insights you’ll find Daniel Alpert sprinkling effortlessly through our recent conversation — captured and recreated for you in the pages that follow.
It could scarcely be more timely. Forget, if you can all the —antics is too nice a description — we’ve had to watch the sharply divided Congress engage in this year as the red team and the blue team sparred over whether the newly elected President would be allowed to turn some of his campaign planks into law. It’s been plain ugly.
By Anatole Kaletsky Considering last week’s headlines about U.S. inflation exploding to 6.2%, a level not seen since 1990, many investors and most economists seem baffled, or even angry, about how equities keep hitting new highs while bond yields remain remarkably stable in a narrow trading range of 1.25% to 1.75%.
By Doug Ramsey Much like baseball’s Steroids Era, the financial markets’ post-COVID era has warped old standards of “what’s possible.”
For years, the “greatest-trade ever” was considered to be the $1 billion made in a single day in 1992 by the Quantum Fund’s short bet on the British pound. Then, during the 2008 financial crisis, hedge-fund manager, John Paulson, personally pocketed $4 billion after an intricate bet against subprime mortgages paid off.
Hat tip to Bloomberg’s Joe Weisenthal for not just noting the yawning gap in the consumer sentiment between Republicans and Democrats shown in the latest University of Michigan survey, but pointing out a provocative possible explanation for GOP sentiment registering even lower today than at the nadir of the Great Financial Crisis.
As Joe pointed out, “Generally everyone eats and everyone consumes gasoline, so by and large people are experiencing the same economy, regardless of party ID.” But there’s one distinctive element of today’s economy, Joe added, that might be hitting Republican small business owners particularly harder — the record number of people quitting their jobs. [More]
Drug Innovation Would Price Restraints Really Stop Innovation? 11/19/21 8:00 AM By Rena Conti, Richard G Frank, and Jonathan Gruber The fundamental dilemma in prescription drug policy is often understood to be the tradeoff between establishing incentives for innovation that produces new cures through high product prices and the fact that high prices can and do strain the ability of consumers and taxpayers to afford the high prices to support that innovation. [More]
U.S. Income Distribution Trends And Issues 11/19/21 7:00 AM By Sarah A Donovan, Marc Labonte, Joseph Dalaker and Paul D Romero Income inequality — that is, the extent to which individuals’ or households’ incomes differ — has increased in the United States since the 1970s. [More]
President Joe Biden The legislation, the largest federal investment in infrastructure in more than a decade, is a central component of Mr. Biden’s domestic-policy agenda and marks a rare bipartisan policy win for the White House.
“The bill I’m about to sign is proof that despite the cynics, Democrats and Republicans can come together and deliver results,” Mr.