September 18, 2019

Money

"Editors’ note: This is part of a series, “Op-Eds From the Future,” in which science fiction authors, futurists, philosophers and scientists write Op-Eds that they imagine we might read 10, 20 or even 100 years from now. The challenges they..."

"During the 2012 presidential election, there occurred one of those remarkably rare moments when campaign rhetoric actually clarified a large issue. It happened when Barack Obama, speaking without a written text, spoke from his heart and..."

"There’s a strong case that the most important economic policy decisions of the past decade have been at the Federal Reserve. In the wake of the 2008 financial crisis, America’s central bank decided which troubled financial institutions would..."

"The other day, The New York Times released a collection of first-person testimonials, entitled "What Middle-Class Families Want Politicians to Know." There was a hiccup though: Nearly everyone included in the piece was making over six figures...."

"You know when Kanye West is coming. His matte-black Lamborghini SUV rumbles up his gated driveway on the outskirts of Los Angeles like an earthquake, and when he steps out, in a white T-shirt and dark sweats, the obsessiveness kicks in..."

"Donald Trump tried to turn Independence Day into a celebration of himself. It was—thanks to poor planning, bad weather, and his hubris—a catastrophe. But a day later, Trump found another, less expensive way to throw a victory parade: the release..."

"The 2020 Democratic field now teems with proposals to mitigate rampaging wealth and income inequality, from Kamala Harris’s plan to increase tax credits for low- and moderate-income families to Elizabeth Warren’s wealth tax. Such plans overlook..."

"Legendary multi-billionaire businessman Eli Broad wrote a heartfelt New York Times opinion column this month urging a broad wealth tax to improve income inequality. Worthy goal. The column's subhead says, “Wealthy people like me should commit to..."

"If you believe the signals coming out of the bond market, it might be time to start counting down until our next recession. As of this week, the U.S. Treasury yield curve has now been inverted for a full quarter—an incredibly dull-sounding turn..."

"In September of 2016, Walmart made a giant, risky bet. The country’s most dominant brick-and-mortar retailer agreed to the largest-ever acquisition of an e-commerce company: a $3.3 billion purchase of a fast-growing but money-sucking online..."

"Over a decade ago, economists Thomas Piketty and Emmanuel Saez helped launch the problem of "the top one percent" into the political mainstream, as shorthand for the idea that the very rich were sucking up most of the fruits of economic growth..."

"Work hard, become successful, then you'll be happy. At least, that's what many of us were taught by our parents, teachers, and peers. The idea that we must pursue success in order to experience happiness is enshrined in the United States' most..."

"I’m calling it right now: This is the summer of bad personal finance advice. An industry of experts exists to advise us on how to spend our money. Some of those experts are truly on your side and sincerely want to help you be better with money..."

"“America will never be a socialist country,” President Trump said as he launched his bid for re-election last week. That declaration was an effort to frighten Americans and undermine growing support for expanding Medicare and Social Security..."

"There’s a story we like to tell about American capitalism. Ours is a country that prizes merit, rewards risk and stands apart in its commitment to the collective success of open markets and the free flow of capital. We are a nation of strivers..."

"Stereotypically, there are two sources of anxiety constantly nagging all millennials at a semi-conscious level like a pair of battery-draining mobile phone apps that can’t be uninstalled. One app is called “Massive Debt,” and the other is..."

"In a couple of days I’m going to be participating in an Economic Policy Institute conference on “excessive wealth disorder” — the problems and dangers created by extreme concentration of income and wealth at the top. I’ve been asked to give a..."

"n the early twentieth century, sociologist Max Weber set off decades of debate when he proposed that a Protestant ethic emphasizing hard work, thrift, honesty, and deferred gratification ignited the Industrial Revolution in Western Europe..."

"American money is unbeautiful—uniquely so. One is confronted with this fact at the currency-exchange counters at airports, where one’s workaday green stack of bills is traded for a pile of paper art. The design differences between the dollar and..."

"Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, Pay..."

"Sen. Bernie Sanders, I-Vt., tells us that wealth inequality is at grotesque and immoral levels. Sen. Elizabeth Warren, D-Mass., has a plan to tax everyone lots and lots to solve this. The slight problem is that the Federal Reserve tells us that..."

"Over the last decade, more Americans have turned to renting houses instead of owning them. Data from 2017 says there are more people renting than at any other point in the past 50 years—since 1965. While a majority of these people are in their 20s"

"Whether the Tax Cuts and Jobs Act (TCJA) disproportionately helped the rich may be 2020’s biggest political issue. Treasury Secretary Steve Mnuchin claims that it benefited most Americans. Sen. Bernie Sanders (I-Vt.) calls it a massive giveaway..."

"The recent California Democratic Party convention in San Francisco exposed the divide between the state’s progressive and working-class voters. Progressives, in their militant certitude, support left-wing policies that often don’t affect them..."

"To save the planet, mankind must rapidly reduce its greenhouse gas emissions. But where should we be reducing those emissions from? What would make the biggest difference? Journalists and environmentalists often answer that question by looking..."

"I woke up on a recent Tuesday morning and, while my husband got ready for work, I fixed some not-quite-healthy breakfast for the kids, harangued them until they brushed their teeth and put on shoes and socks, and drove them to school..."

"At the Center for Responsible Lending, we understand how access to safe, affordable credit can help ensure people have a path to building wealth. But access to harmful payday loan products does the opposite."

"Much has been made lately of the hot economy, a narrative driven largely by a long run of strong jobs numbers. But this enthusiastic story line is ignoring a few disturbing structural problems that suggest that the economy is not as strong as..."

"Trump declared the Fed should cut short-term interest rates by half a point at its May meeting; the Fed ignored him, keeping rates unchanged. The Senate, too, ignored his stated desire to appoint two political cronies to the Federal Reserve Board."

"Free markets are supposed to allocate goods and economic activity through self-regulating price signals. But money itself is not just another commodity on the markets — it's the medium of exchange..."

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