While there’s no evidence that Albert Einstein uttered the quip long associated with him about compound returns as the “8th Wonder of the World,” it’s not unreasonable to imagine the genius wit…
“Will Andersen’s father looked at a golf course and thought it should be a farm. Will looked at a farm and thought it should be a golf course.” That’s how the Wall Street Journal’s Ben Cohen…
When Facebook purchased Instagram for $1 billion in 2012, the deal wasn’t seen as obvious or a slam dunk… for Facebook. Which is a statement of the obvious, one abundantly proven by modern estimates…
“I have such easy access to my fans and customers.” Those are the words of Kylie Jenner, from a 2018 Forbes profile. Jenner was on the path to billionaire status, but in many ways the billionaire…
The EU is presently trying to limit a prominent source of income for Meta. The biggest victims will be European businesses. The EU wants to force Meta to provide Facebook and Instagram to users for…
With its antitrust lawsuit against Meta, the FTC’s goal is to force the sale of WhatsApp and Instagram, Meta’s up-to-now most successful acquisitions. Wise minds inside the Trump administration will…
Jobs are the easy part. It’s worth remembering every time a politician talks about “jobs created” by his or her economic program. They’re missing the point. True economic growth is an effect of the…
Gold and the foot are constants. You don’t adjust value and height against them, rather you adjust the value of everything else and length of everything else in terms of gold and the foot. Consider…
There’s foolish and then there’s macroeconomics. Macroeconomics insults foolish. Was “economics” always this dense? Acknowledging that there’s no empirical way to answer the previous question, it…
The impact that President Trump’s tariffs, whatever form they take, will have on U.S. manufacturing is unknown, and likely will be for several years. Hopefully, they will be the impetus for the…
It’s easy to forget that a little over five years ago U.S. schools were closed, public events were canceled, dining inside restaurants was illegal, the operation of all manner of businesses was…
“Every single decision we made was wrong.” That’s how Nvidia founder Jensen Huang described 1995 in the life of Nvidia. Crucial about the wrong decisions was that Nvidia’s first of many recessions…
Before investor Bill Ackman requested from President Trump a pause on his tariffs, he perhaps reasonably observed that Trump deserved the benefit of the doubt, that he’s often forged another path to…
The Fed is tasked with fighting inflation that neither it nor Congress understands. See the accepted view among politicians, economists and pundits that if the Fed centrally plans low, but…
“Obama’s Radicalism Is Killing the Dow.” That was the headline of a Wall Street Journal opinion piece by conservative Hoover Institution scholar Michael Boskin on March 6, 2009. With stocks on a…
Dear President Trump: My name is Phil Bell. We have never met, but I have been both a fan and supporter of yours since I was a little boy growing up in New Jersey. I served as an Alternate Delegate…
Debt is a sign of progress. It’s a market signal about growing future earnings for families and businesses. Despite this, politicians continue to argue the opposite. Looking for ways to demagogue the…
President Trump promises to bring back manufacturing jobs to the U.S. If we forget that he can’t do what he claims he will, we can at least think about the horrid economic implications of any…
President Trump is doing major damage to his presidency. And no, this opinion piece is not about tariffs. Much more economically damaging than tariffs is a falling currency. Gold is at all-time…
“There is a ‘treasure trove of medicines that could be used for so many other diseases.’” Those are the words of Donald C. Lo, former head of therapeutic development at the National Center for…
The Federal Reserve is irrelevant. Market signals continue to confirm the previous truth while economists and pundits continue to follow what’s irrelevant in breathy fashion. In future decades and…
Right and Left, Republicans and Democrats brought great shame on themselves with their efforts to ban TikTok. Pizza Hut crystalizes the previous truth. But before discussing Pizza Hut, it should be…
2025 saw Washington, DC shaken to its core by President Trump’s establishment of the Department of Government Efficiency (DOGE). Far from past efforts to “streamline” government, the Elon Musk-led…
If the U.S. were ever so foolishly intent on shrinking inequality, doing so would be easy: abolish usage of cars, planes, computers, smartphones and the internet. Presto, inequality shrunk…
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