Currency Turmoil Hurts Commodities and – Perhaps – Even Global
What a difference a year makes. In 2017, the U.S. dollar was weak and the prices of commodities, metals and oil were strong. Now the strength of the U.S dollar has wreaked havoc on [...]
We Have Our First $1 Trillion Company, What Does it Mean?
This past week, Apple Inc. became the first publically traded U.S. company to have a market value in excess of $1 trillion. Apple has succeeded because it dominates the smartphone market and is cultivating [...]
The Federal Reserve’s Interest-Rate Increases are not the Problem
Last Thursday, President Donald Trump broke with tradition and criticized the Federal Reserve’s plan to raise interest rates. Historically, presidents have refrained from speaking specifically about monetary policy. On CNBC, Trump said: “I am [...]
Curbing Globalization Will Slow U.S. Economy in the End
Sadly, our polarized political atmosphere prevents the country from dealing with important issues such as immigration, infrastructure spending and coming up with appropriate trade policies. The United States is the world’s wealthiest country, with [...]
GE Shows the Larger They Are, the Harder They Fall
The General Electric Co. has a storied, 110-year history as one of a handful of companies that were at the center of American capitalism and industrial innovation. GE created the first incandescent light bulb, [...]
U.S. Turns from Global Uniter to Disrupter
In today’s Wall Street Journal, Greg Ip wrote an excellent article in which he discussed America’s changing role from a stabilizer of the world to a disrupter. In brief, Ip argues that solving the [...]
What Job Openings Data Tells Us
For the first time since such record-keeping began in 2000, the number of job openings has exceeded the number of jobless. U.S. job openings rose to 6.7 million, the Labor Department reported on June [...]
Hefty Hiring is Helping Get to Work, and at Higher Wages
The May labor report showed that the American economy is booming. Strong hiring indicated that economic growth is likely to accelerate this year, after increasing at a modest 2.2 percent annual pace in the [...]
Strong Corporate Earnings and Economy Keep Me Invested in Stocks
Over dinner the other night, a good friend asked me about my outlook on the stock market. Having been a corporate bond trader for most of my Wall Street career, I have learned that [...]
Priorities to Advance the Field of Image-Guide Urology in Order to Diagnose Clinically Significant Prostate Cancer
Our Coming Together Against Cancer Fundraiser will provide funding to help Dr. Gorin (one of our panelists from John Hopkins) develop a novel imaging technique to address problems within the field of urologic oncology. [...]
Free Trade Not the Problem
The United States has advocated free trade policies of unrestricted imports and exports since the Bretton Woods Conference in 1944. This principle of refraining from imposing tariffs or quotas remained the case even after [...]
Job Corps Failure
Today’s Wall Street Journal highlighted the failure of the Job Corp program. The condemnation of the Job Corp confirms my disappointing experience as an Intern for the US Employment Service in the summer of [...]
Private Markets Reshaping the Financial Landscape
Last Tuesday, Spotify, a superstar in the music-streaming sector, went public employing a very unusual initial public offering. Spotify listed existing shares directly on the New York Stock Exchange without relying on investment bankers [...]
Social Media in the Midst of a Data-Collection Crisis
I find myself in an unusual position as the debate rages over personal data and social media companies. I am a social media klutz who rarely looks at Facebook and doesn’t have Twitter or LinkedIn [...]
Looking Back at 10 Years of Columns and of Life
I find it difficult to realize that I started writing “Doc’s Prescription” in March 2008. During the subsequent decade, both our economy and I reached rock bottom and pinnacles. My first column dealt with [...]
The Looming Pension-Fund Crisis
The pension funds of state and local governments and corporations are facing a total shortfall of up to $6 trillion. Some 200 multi-employer pension plan companies face bankruptcy. And unless this fiscal shortfall is [...]
Dangers of Deficit Grow with Tax Cuts and Spending Increases
“The hypocrisy is astounding. Every one of these Republicans complained about President Obama’s deficits and now they have put forward a trillion-dollar deficit.” — Sen. Rand Paul Members of both political parties criticized U.S. [...]
The Widening, Deepening Effects of Autoimmune on the Workforce
The expected large-scale increase in the use of robots has prompted discussion about which jobs will become obsolete as society becomes more automated. It’s an issue that dates back long before computers were invented [...]
Playing with Fire, The 1968 Election and the Transformation of American Politics
Playing with Fire, The 1968 Election and the Transformation of American Politics -By Lawrence O’Donnell Introduction: I feel compelled to write up my book review for several reasons. First of all, I was probably [...]
Alabama Claims and Treaty of Washington
Overview Following the Civil War the United States and Great Britain were loggerheads over damages to America by ships built in Britain for use by the Confederate Navy to destroy American merchant marine ships. The [...]
Counting the Real Benefits of the Tax Cuts and Jobs Act
On Wednesday, Apple said it would spend approximately $350 billion in the U.S. over five years on domestic jobs, manufacturing and data centers. The impetus for Apple’s decision was the Tax Cuts and Jobs [...]
The Case of the Disappearing Public Companies and What it Means
Where have all the public companies gone? According to the Center for Research in Security Prices, the number of companies that sell stock to the public on the exchanges has shrunk since 1996 by [...]
Wages – Finally – Tick Higher, Boding Well for Entire Economy
Workers in the tightest American labor markets are finally receiving pay packages that are growing faster than inflation. According to an article in the Wall Street Journal on Jan. 1, in cities such as [...]
Viceroy’s House and Freedom at Midnight
At a friend’s suggestion, I am watching Netflix’s production of Viceroy’s House. The production focuses on the Last Viceroy of India, Lord Mountbatten, and the independence of Pakistan and India. The loss of India, the [...]
Five Days in London, May 1940
Five Days in London, May 1940 By John Lukacs The days from May 24 to May 28, 1940, altered the course of the history of this century, as the members of the British War Cabinet [...]
Citizens of London: The Americans Who Stood with Britain in its Darkest, Finest Hour
Citizens of London: The Americans Who Stood with Britain in its Darkest, Finest Hour By Lynne Olsen As he spoke in his last interview Eric Sevareid fought to keep his voice steady. At the end [...]
Troublesome Young Men, by Lynne Olson
By Lynne Olson Eloise bought me the wonderful book for Father’s Day. The book, Troublesome Young Men, focuses on some twenty to forty primarily young, rebellious Conservative Members of Parliament who started in 1936 at [...]
The Horrendous Conditions of Mississippi Jails
The New York Times reported the horrendous conditions that exist in Mississippi’s Privately Owned jails. The treatment of inmates denies a fundamental Bill of Right—protection against cruel and unusual treatment. I find it inconceivable that [...]
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 [...]