Too Big to Fail Revisited
I would love for everyone to read quality books that provide in-depth analysis of the factors leading to the Great Recession, the clumsy efforts of key participants to address the crisis, and the ad hoc [...]
Trump Budget Challenges in Estimated 2020 Budget
Last week I wrote about the proposed 2018 Trump Budget. The Trump 2018 budget did not focus on Entitlement Programs, which represent about two-thirds of government expenditures. Since then I thought about the impact [...]
Fed’s Raising of Rates Good for Savers and Economy
The Federal Reserve is expected to raise interest rates Wednesday by 25 basis points, to 1 percent, and the U.S. central bank has indicated it plans to raise rates aggressively. Most economists expect the [...]
The S&P 500 Index’s March to $20 Trillion
Last week, the Standard & Poor’s stock index increased to a record high market capitalization above $20 trillion. This compares with $5.9 trillion when the market hit a low on March 9, 2009. It [...]
Automobile and Tractor – Change of life in the 1920’s
“Henry Ford influenced more lives than any man alive. It will take a hundred years to tell whether you have helped us or hurt us, but you certainly did not leave us like you found [...]
The Obstacle to Trump’s Predictions for U.S. Growth
During his campaign, Donald Trump said his policies would grow the economy by 4 percent per year and increase employment by 25 million over the next decade. While these are laudable goals, they also [...]
Trump’s Protectionist Policies May Lead to a No-Win Situation
“Pursuing protection is just like locking oneself in a dark room. While wind and rain may be kept outside, so are light and air.” — Xi Jinping, Chinese president During his campaign, President Donald [...]
Jewish Population Portugal
I recently returned from Portugal where I met with two important people in the Portuguese Jewish Community. (Jose Carp who headed the Portuguese Jewish Community for 14 years and Hugo Vaz, a Portuguese Jewish historian. IntroductionAlthough [...]
Consumer Confidence is So High, What Could Go Wrong?
“Be fearful when others are greedy and greedy when others are fearful.” —Warren Buffett American consumers are more confident about the economy and their financial future than they have been in years. As 2016 [...]
Understanding Reconstruction Through New Eyes
Until reading Ron Chernow’s biography of Ulysses Grant, I had a totally different perspective of Reconstruction (1867-1877). In brief, I learned at my Southern Institutions, that the North always wanted to inflict military rule on [...]
Frontline: Abacus, Small Enough to Jail
Frontline: Abacus, Small Enough to Jail I highly recommend this documentary On Tuesday, September 12 at 10 p.m. Public Broadcasting is going to broadcast a documentary about the only U.S. bank prosecuted after the financial [...]
American Imperialism
Introduction We hear repeatedly that America is unlike European nations such as Great Britain, France, Germany, Spain, Netherlands, and Portugal in terms of our desire for colonial expansion. Whether right or wrong, America almost [...]
Ulysses Grant: An Extraordinary Person by Ron Chernow
“Suffrage once given can never be taken away, and all the remains for us now is to make good that gift by protecting those who have yet received it” Ulysses Grant Ulysses Grant: An extraordinary [...]
Puerto Rico Skids Into Debt
In the largest bankruptcy of a U.S. state or territory, Puerto Rico Gov. Ricardo Rossello requested court protection for his U.S. commonwealth to resolve a large number of lawsuits from creditors. The Puerto Rico Financial [...]
Pfizer Set to Purchase Cancer Drug Maker Array BioPharma
Pfizer will purchase Array BioPharma for $10.4 billion. It hopes to expand its cancer portfolio with targeted therapies. This acquisition underscores the importance of cancer drugs to the pharmaceutical industry. Because cancer drugs have [...]
Remembering the Vietnam War
Honoring Hugh Lynch (My Brother-in-Law) 1962-1969 Introduction Ho Chi Minh (Founder of Vietnamese Communist Party) Over the next few days Public Broadcasting will air Ken Burns’ Documentary on the Vietnam War. In recognition of that [...]
Creating Much Needed ‘New-Collar’ Employees
“My goal is to get rid of the attribution ‘starving artists’ to Ringling College graduates.” — Larry Thompson, Ringling College Art and Design president In an editorial for USA Today entitled, “We need to [...]
The Orpheus Clock: The Search for My Family’s Art Treasures by Simon Goodman
By Simon Goodman The Orpheus Clock The title of Goodman’s book derives from one of his families prized heirlooms—The Orpheus Clock—that was not recovered by his family until some 70 years following World War [...]
Trip to Israel – For Jews, Israel is a Homeland
For Jews, Israel is a Homeland Whether you travel East or West The Road to Home is Always Best Saying on a Plaque at my boyhood home Wailing Wall Temple Mount, Dome of the [...]
The Forces Behind 2016 Merger Mania
I feel very fortunate to possess a collection of cartoons from Puck, the humor magazine that ceased publication in 1918. My favorite is a 1901 cartoon by famed illustrator Joseph Keppler depicting industrialist J.P. [...]
Movie – Denial, Confronting a Holocaust Denier
Dear Sidney: Because of you, I saw a wonderful movie. I shared my thoughts with friends. Doc I would like to encourage you to see the movie, Denial. The movie is based upon the acclaimed [...]
IMF Worried About World’s $152 Trillion Debt Load
Is the world in danger of drowning in debt? The International Monetary Fund this month issued a report highlighting its concerns about worldwide debt, which it said totals some $152 trillion. “The period of [...]
Bill and Hillary Clinton – Personal Enrichment
Introduction: In the October 1st-7th issue of The Economist, the magazine highlighted the stupendous amounts generated by the Clinton’s personal accounts and the Clinton Foundation. In fairness while The Economist is very critical of [...]
The Nazi Hunters by Andrew Nagorski
By Andrew Nagorski My sister, (Joella Werlin) knowing of my ongoing interest in World War II, sent me, The Nazi Hunters. While the book was not easy reading, it did provide me some interesting insights [...]
Fed Owes Transparency on Range of Rate Hikes
On Friday, Federal Reserve Chairwoman Janet Yellen told global monetary policymakers, “I believe the case for an increase in the federal funds rate has strengthened in recent months.” She implied that internal forecasts have [...]
Wells Fargo Now Wears Black Hat; Sheriff Needed
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” — Warren Buffett Warren Buffett, a legendary investor with a pristine [...]
Undisputed Champion of the Long Run
Today’s Wall Street Journal had an article, which focused on John Bogle, founder of Vanguard—a money management company that focuses on index funds. The article contained two ideas that I wish to share: Bogle [...]
Happy Birthday to the Index Fund
In today’s Wall Street Journal, Jason Zweig discussed the fortieth anniversary of index mutual funds—the Vanguard 500 Index Fund. The initial public offering, $11.3 million, was a major disappointment to Vanguard’s founder, John C. [...]
Ludwig Van Beethoven
Ludwig van Beethoven remarkable compositions won him favor among the enlightened aristocracy congregated at Vienna, and he enjoyed their support throughout his life. They were tolerant, too, of his notoriously boorish manners, careless appearance, [...]
Marc Chagall
Eloise and I recently enjoyed the Chagall exhibit in San Francisco. He composed images based on emotional and poetic associations, rather than rules of pictorial logic. From the perspective of a critic, Chagall ranks [...]
Will Rogers
Will Rogers (1879-1935) had what it takes to tickle the national funny bone. His keen wit and the ability to see the humor in all things concerning mankind continue to endear him to millions [...]
Gene Kelly
In 1994, Gene Kelly made his last on-screen appearance, hosting “That’s Entertainment”. His last words were on the big screen were, “The song has ended, but the melody lingers on”. That is the way, [...]
Victor Hugo
Victor Hugo, novelist, poet, and dramatist, was the most important of the French Romantic writers. In an era when France was the greatest nation of the Continent, most of the nineteenth century, Victor Hugo [...]
Soft Returns Likely to Mean Hard Landings for Pensions
Unfunded pension liabilities of cities and states have doubled as their returns have fallen over the past decade and are now approaching $1 trillion. The problem has escalated a national debate about whether these [...]
Remembering Elie Wiesel (1928-2016)
The Opposite of Love, is not Hate, it is Indifference Although today’s world has not descended to the detestable conditions associated with the Holocaust, I certainly feel that today’s perpetuators of these innumerable terrorist acts [...]