$18 Trillion!!!

    Chinese Citizens Gather In Beijing Square To Watch U.S. National Debt Clock Strike $18 Trillion News in Brief • World • foreign affairs • money • finance • china • News • ISSUE 50•45 • Nov 14, 2014   BEIJING—Celebrating the milestone with hugs, jubilant cheers, and singing, over 600,000 Chinese citizens...
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The Price of Affection

By John Lumbard, CFA .... Argentina just defaulted on some of its bonds, for the very first time in 13 years. It’s their seventh default since declaring independence from Spain.  Investors kept buying Argentine bonds . . What were they thinking??? In the early 1900s the people of this bountiful land---their economy...
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Privilege

By John Lumbard, CFA ... “Swiss cantons are free to set their own tax rates. For example in Zug, corporate tax is about 16 percent but can fall as low as 9.5 percent for companies that do most of their business outside Switzerland. That compares with an average global corporate tax...
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Unlimited Possibilities

By John Lumbard, CFA. In 1972 the Club of Rome, a global think tank formed by “scientists, economists, heads of state, UN bureaucrats, high-level politicians and government officials” caused an international sensation with the publication of The Limits to Growth, which predicted that population growth and economic growth would exhaust all...
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How To Get The Economy Moving Again

On August 8 George Schultz, Secretary of Everything (Labor, Treasury, and State;  also OMB director) penned an opinion piece for the Wall Street Journal, offering ides for renewal and reform to a country that seems to be suffering from Eurosclerosis.  We'll stick to the parts that affect the economy and...
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Opportunity

By John Lumbard. It’s springtime, and investor doubts and fears are in full bloom.  Profit margins are too high, unemployment is too high, the Fed is printing too much money, China’s growth is slowing, Europe is never, ever going to get out of its funk, and we don’t have high speed...
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On Medical Insurance and Personal Responsibility

By James Schaefer. Paying routine medical bills out of pocket, as our parents and grandparents did before us, is part of life. It is no different from our obligations to put food on the table, to pay the rent or mortgage, to work, and to be productive, law-abiding citizens. Insurance protects against risk, and...
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It’s Time for a Diet

By James Schaefer. In "Blotting the Balance Sheet", (Wall Street Journal, April 26-27, 2014), James Grant reviews the book, The Reckoning, by Jacob Soll. In it, Soll highlights the fall of successful societies, and points some of the finger of blame at accounting, and the behaviors that follow. And he lays  blame equally...
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Health Insurance Is Not Health Care

By John Lumbard, CFA. In late December movie mogul Michael Moore, writing in the NY Times, described Obamacare as “awful” and said that he’d known this all along---but didn’t want to say so because it would give comfort to the President’s “enemies”.  Maybe it’s time we stopped the hyper-partisan hyperventilating, and...
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Young In America

By John Lumbard, CFA. According to The Daily Kos, 27% of recent college graduates (ages 21 to 24) are either unemployed or underemployed.  The Democratic Underground says that recent college graduates earn $3,200 less than they did 13 years ago.  Of course, it’s not just college graduates;  low starting salaries and...
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