A few years ago, as manager of the graduate economics program at the University of San Francisco, part of my job was to recruit qualified students. Consequently, I read hundreds of transcripts from Chinese students. They all had two classes in common. Some type of military training and a class called, “Socialism with Chinese Characteristics.”“Capitalism with Chinese Characteristics”
Test Blog
Executive Order 14036
On July 9th, the Biden Administration issued Executive Order 14036, “Promoting Competition in the American Economy.” It takes a “whole of government” approach to improve our free-market capitalist system. Citing the trust busting of Teddy Roosevelt and the New Deal of FDR, the long executive order includes 72 separate regulatory suggestions and directives spread across“Executive Order 14036”
Operation Warp Speed – the Last Mile Problem
I’ve spent the last month as a Peace Corps volunteer deployed to support a mobile vaccination clinic in rural Maine. The mission is to reach underserved communities to make it as convenient as possible for everyone to get the shot. “About one third of U.S. ‘customers’ are unsure that they want the product and are“Operation Warp Speed – the Last Mile Problem”
Our Non-Fungible World
In 1989, Bill Gates founded Corbis to purchase and license exclusive digital rights to great works of art. Most museums were reluctant to participate. In 1995, Corbis bought the Bettman Archive of 16 million photographs for an undisclosed sum. In 2018, Dapper Labs was formed to exploit their CryptoKitties product. The CryptoKittie game allows users“Our Non-Fungible World”
The Taxman Returns
The most recent $2 trillion tax and spend plan mooted for consideration is euphemistically titled, “The American Jobs Plan”, which is being discussed as an “infrastructure bill”, itself a euphemism for a cornucopia of benefits to be landed a variety of constituencies ranging from hard-edged union bosses to misty-eyed green new dealers. The true infrastructure“The Taxman Returns”
Spackle that IPO!
It is always a wonder when a besmirched and ridiculed financial product becomes mainstream. We remember how, with the artful guidance of Michael Milken, junk bonds, once known as “fallen angels” made the transition to new issue high yield securities. Pointing out that a triple-A rated bond had only one way to go, Milken convinced“Spackle that IPO!”
A Return of that Other Bubble?
I was working on Wall Street during the crash of October 19, 1987, when the Dow dropped 22% (or about 7,000 points in today’s market). That evening, traders gathered at Harry’s Bar to commiserate. One of the old timers pulled me aside and said, “You know why this happened? It is because everyone that lived“A Return of that Other Bubble?”
The Stimuli and the People
Given the intense political animus on display in Washington in recent weeks, it is hard to imagine any rational policy agenda emerging from the chaos. The optics of a new president being installed with thousands of federal troops standing by after a disputed election takes me back to my days working in various African countries.“The Stimuli and the People”
Staying Afloat When the Bankruptcy Tsunami Hits, Part 2 – By Neil Peretz
Given economic conditions and continuing public health concerns heading into 2021, it is looking more and more likely that a tsunami of bankruptcies are on the horizon. Don’t be caught off guard. There are things you can do in advance once you become a creditor to make sure you are well positioned to get the“Staying Afloat When the Bankruptcy Tsunami Hits, Part 2 – By Neil Peretz”
Staying Afloat When the Bankruptcy Tsunami Hits, Part 1 – By Neil Peretz
Dear Clients and Friends, We are going into the new year with economic uncertainty. Neil Peretz (a bankruptcy expert that I’ve worked with on multiple occasions) shares his insights on how to deal with customers that owe you money. We hope that everyone does well, but, some of you may have to deal with“Staying Afloat When the Bankruptcy Tsunami Hits, Part 1 – By Neil Peretz”