Marshall Plan: Legacy to World Peace
Few Americans in the twentieth century have left a greater legacy to world peace than George C. Marshall (1880-1959). As chief of staff of the United States Army during World War II, it fell [...]
Ku Klux Klan Act (1871)
The Ku Klux Klan Act represented a major civil right accomplishment of President Ulysses Grant. That is, by 1871 the racist ideology that was prevalent in both North and South undermined efforts to protect [...]
What is the Elephant in the Room in the GOP Tax Plan?
On the eve of the Senate Passing the GOP Tax Plan, I find it disturbing that there is no middle of the road discussion of its merits or demerits. While I have not read thoroughly [...]
Understanding the Complex History of the South and Its Impact on Civil Rights
“It is obvious today that America has defaulted on this promissory note insofar as her citizens of color are concerned.” -Martin Luther King August 28, 1963 Introduction: The election of a Democrat to the Senate [...]
Grant-Lee Correspondence that Ended the Civil War
Introduction I am reading Ron Chernow’s Biography of Ulysses Grant. Needless to say, this biography provides a fantastic positive insight into one of America’s greatest generals. While Grant suffered from alcoholic demons, he possessed incredible [...]
The Fuel Powering Economy is Not Going to Run Out Soon
The U.S. economy is on fire. According to the Atlanta Fed’s model, the gross domestic product is headed for a 4.5 percent annualized growth pace in the fourth quarter. The U.S. economy has enjoyed [...]
U.S. to Recognize Jerusalem as Israel’s Capital
President Trump told Israeli and Arab leaders today that he plans to recognize Jerusalem as the capital of Israel. According to the New York Times this will upset efforts to broker peace between Israel and [...]
Putting in Perspective Recent Economic Policy Statements by President Bush and Ben Bernacke
Warning: Even my most loyal readers cannot read this entire essay in one sitting. My recommendation is get a bottle of scotch, and slowly imbibe your alcohol while you are digesting this essay. Hopefully, you [...]
AT&T – Time Warner Merger and U.S. opposition to it Both are Suspect
The Justice Department says it will file an antitrust lawsuit to stop the proposed $85.4 billion merger of AT&T and Time Warner. This marks a departure from decades of Justice Department practice of approving [...]
High-Yield Bonds are Causing Higher Anxiety, but Don’t Sell Yet
In recent months, evidence has increased that the high-yield bond market is under pressure. While this class of bonds rated below investment grade continue to trade near all-time highs, concerns are mounting beyond what’s [...]
President’s Trade Goals Abandoning U.S. Global Leadership Role
Trump’s visit to Asia, he continued his efforts to shake up the world economic order and in the process raised fundamental questions about America’s global role. Trump voiced his belief that America should act [...]
100 Years of Communism – and 100 Million Dead (WSJ) by David Satter
by David Satter David Satter commented that 100 hundred years ago this week armed Bolsheviks seized the Winter Palace in Petrograd, arrested ministers of Russia’s provisional government and set in motion events that will kill [...]
New Fed Chairman Must Navigate Crests and Troughs of Inflation
President Trump’s nominee to be Federal Reserve chairman, Jerome Powell, is expected to continue the Fed’s restrained approach to reversing the central bank’s crisis-era stimulus policies. This would mean gradually raising short-term interest rates [...]
Jews in Morocco
The Economist reported a positive development in Morocco. In the little seaside town of Essaouira, in Morocco. Rabbis and cantors wish Muslims “Shabbat Shalom.” The Kingdom has made extensive effort to reach out to Jews [...]
The Intolerant Fifth
The October 14th edition of the Economist described the sorry state of Freedom of Speech on America’s campuses. We should recognize that unless this intolerance is not stopped, America facing a significant curbing not only [...]
We Should Update, Not Kill, North American Free Trade Agreement
Canada, Mexico and the United States are involved in contentious negotiations to update the North American Free Trade Agreement. The Trump administration has offered a series of hard-line proposals that the U.S. Chamber of [...]
Jones Act’s Harm Extends Well Beyond Hindering Disaster Aid
On Sept. 28, the Trump administration said it would temporarily waive the Jones Act, a century-old shipping law, to help get emergency supplies to Puerto Rico. Puerto Rico officials had urged the administration to waive [...]
Great Britain and The United States During the Civil War
I have learned a lot about the role of Great Britain and the United States during the Civil War from a Book, A World On Fire. In discussing the United States, we must recognize the [...]
Federal Reserve Balance Sheet is Dangerously Out of Control
Last Wednesday, the Federal Reserve officially announced it will begin reducing its balance sheet. The $50 billion-per-month decrease would cut its holdings below $3 trillion by 2020. But even that figure is almost four [...]
Excerpt Economist 9/16/17: Closing in On Cancer
The September 16th edition of the Economist highlighted major issues involving cancer Cancer claimed 8.8 million lives world wide in 2015 40% of Americans will have cancer during their lifetime Cancer kills more people [...]
Articles of Confederation—An Ineffective Form of Government
Over the years I have thoroughly enjoyed Great Courses. In the past few days, I have listened to a series of lectures on the Constitution. In brief, this agreement between the original thirteen states was [...]
Women Should Be Able to do Their Part for the U.S. Economy
The twenty-first century promises breakthrough opportunities for American women, who have led the recovery of our workforce participation rate.Women, especially those in their late 20s and early 30s, have been responsible for 40 percent of [...]
The Rise and Fall of Senator Joe McCarthy by James Giblin
By James Giblin I enjoyed this book thoroughly. This book focuses on the Red Scare and the role by Senator Joseph McCarthy in creating it. Although McCarthy pursued his anti-Communist crusade with a zeal, he [...]
Why Wall Street Matters
William Cohan, one of America’s most respected financial journalists, has written an excellent, well-balanced book about Wall Street. Cohan argues that, despite the flagrant misbehavior by some Wall Street firms that led to the [...]
Major Categories of Federal Income and Outlays for Fiscal Year 2015
Federal Income Receipts $3.66 Trillion Social Security, Medicare Taxes 29% $1.070 Trillion Personal Income Taxes 42% $1.549 Trillion Corporate Income Taxes 9% $332 Billion Excise, Estate, Gift Taxes 8% $295 Billion Borrowing to Cover [...]
Weak Dollar Raises Earnings, Reduces Trade Imbalances
The weaker dollar is helping corporate earnings, which is good for U.S. investors. Multinationals’ earnings will rise because they have substantial overseas sales, which are paid for in foreign currencies. Converting these foreign currencies [...]
The Public’s Enchantment With Exchange Traded
Exchange traded funds have grown to hold more than $4.1 trillion for the first time, according to HFR, a publisher of information on ETFs and hedge funds. These financial products strive to match the [...]
Pope John XXIII, An Innovative Leader (1881-1963)
Introduction John XXIII introduced a turning point in history and initiated important reforms for the Church. He was a conservative that sought to cure the Church because it needed radical surgery. Under his leadership, the [...]
Asians Become Focus on Battle of Admissions
Today’s New York Times highlighted the obstacles that Asian-Americans face in getting admitted to the finest academic institutions in our country. In my judgment, the discrimination against Asian Americans is totally unwarranted and reveals [...]
On the Trail of Nazi-Looted Books
Today’s New York Times the article highlighted the fate of books stolen by the Nazis. Tens of millions of books were taken from the Rothschilds, other prominent Jewish families, and Jewish Academic organizations Strangely [...]
Volvo’s Move Away From Gas Adding Nail to Coffin in King Oil
On Wednesday, Volvo became the first mainstream automaker to say that all models it introduces in 2019 will be either electric-gas hybrids or powered solely by batteries. It is a bold move to lead [...]
Fed Stress Tests Clear Banks to Issue Some Huge Payouts
In response to major progress on their balance sheets, the Federal Reserve has given the nation’s big banks a green light to take capital risks that appear to dull the teeth of the Dodd-Frank [...]
The Challenge of Restoring Coal in the Face of Today’s Realities
President Trump wants to make the U.S. coal industry “great again.” The president has repeatedly said, “We are going to get those coal miners back to work.” He derides the Obama administration’s “job-killing Environmental [...]
Miracle Cure: The Creation of Antibiotics and the Birth of Modern Medicine
Miracle Cure: The Creation of Antibiotics and the Birth of Modern Medicine By William Rosen My cousin, Howard Plotkin, encouraged me to read this book because streptomycin saved my life in late 1945. My [...]
No Ordinary Time Franklin and Eleanor Roosevelt by Doris Kearns Goodwin
No Ordinary Time Franklin and Eleanor Roosevelt by Doris Kearns Goodwin I recently reread Goodwin’s book in which she recounted the war years, 1940 through 1945, from the perspective of the American Presidency. Both Franklin [...]
Jobless Rate at 16-Year Low; So Why Do Things Look Bleak?
‘Give me a one-handed economist. All my economists say ‘On one hand, then but on the other .’” — Harry Truman On Friday, the Labor Department reported seemingly good news: Unemployment fell to 4.3 [...]