Archive for the ‘Four for Thursday’ Category
Today marks three months of Capitolism. Thanks for reading the blog. I hope you’ve enjoyed reading it a least a little bit. I’ve enjoyed writing it immensely. Look for more posts, a new look, greater issue coverage, better features and even some guest writers early in the New Year. Best wishes for great joy and success in 2010. Read the rest of this entry »
Health care dominated the business news this week. Unemployment dropped a bit, and the debate over investing in gold continued. The articles in this week’s ‘Four for Thursday’ hit on leadership themes, doubts about any economic recovery and the efforts to create jobs in the country. Enjoy.
Only Supply-Side Can Fix Deficit, by Rich Karlgaard. I do not know enough to evaluate whether supply-side economics works. But policies designed to temporarily prop up demand seem ineffective: whether a short-term or one-time tax cut, or a program like Cash for Clunkers. Sure, we saw a rise in GDP this quarter, but will it last?
Why Gold Matters, by Sham Gad. Mr. Gad offers a nice, crisp overview of the basics of gold investing, including practical pros, cons and alternatives. The article also offers some other good links for anyone wishing to explore the topic in greater depth.
The Army President Obama Has Yet to Deploy, by Cedric Muhammad. This is the first article I’ve read by Mr. Muhammad. I found it erratic and occasionally rambling, but a useful read. He gives some sound counsel to policymakers (drop capitol gains taxes to 10%), but mixes in some oddball ones (increase incentives to hire ex-criminals). His main point resonates though: any recovery will come through the empowerment and enablement of America’s small businesses.
The Dollar and the U.S. Economy, Interview with John Tamny. As always, John makes some excellent point, on gold, trade deficits, the dollar as the go-between currency of the world, among others.
If you get too stuffed this weekend to watch football, below are four great reads. Have a happy and safe Thanksgiving, everyone.
A Defense of Wall Street, by John Tamny.
Four Basic Elements of Stock Value, by Andrew Beattie. Nice summary with simple, easy-to-understand explanations.
Mayflower’s Pilgrim Capitalists, by Steven Malanga. First time I seen anything about William Bradford’s decision to align farms and work with families.
Old School Social Network, by Katherine Rosman. In an age dedicated to building and ‘leveraging’ ever-expanding personal networks, we should remember that sometimes the best networks are, and remain, small. A person in a network is only useful, in a business sense, if he or she will act on your behalf. Will contact #456 on LinkedIn or #1016 on Facebook act on your behalf?
The week saw the President in China; questions about increasing trade tension between the U.S. and China; continued strength for gold; Goldman Sachs and Warren Buffett launch an effort to support small business; wonderment at the supposed strong dollar policy; and retailers wondering whether the holiday shopping season, which offiially opens in eight days, will bring good cheer.
The Debt Economy, by James Surowiecki.
Main Street Tells Wall Street – Get a Real Job, by Susan Antilla. Reading this, the intensity, the passion, the feeling behind the comments struck me. Yes, I thought, people are angry at Wall Street — the bailout, the bonuses — but the intensity of the remarks made an impression.
Six Reasons Richard Russell Wants to Own Gold. Richard Russell writes Dow Theory Letters, and regularly criticizes the Federal Reserve and the Fed system. He writes in an entertaining style. You may not like the technical approach to investment analysis, but Russell makes cogent arguments. Always a good read.
China and the American Jobs Machine, by Robert Reich.
Tough week in the economy, even with the stock market gains: unemployment at 10.2% (and in reality probably much higher); small business lending remains in the dumps; gold hits a record; and the dollar continues to slide, even after Secretary Geithner reaffirms, in words, a strong dollar policy. Below are four great reads:
If Obama Is So Bad, Why are the Stock Markets Up?, by John Tamny, who argues the market has risen in response to President Obama’s key priorities floundering. Perhaps, but this run-up seems quite at odds with broader global economic reality. Is the market due for a fall after its nine-month rise?
Which Will Win Out: Paper or Gold?, by William Rees-Mogg
Review of Econoclasts, by Sean Rushton. (Full disclosure: Sean is a longtime friend and former colleague.)