Oversaving and What To Do About It

Q. Have you ever thought about doing a post on oversaving? I realize most docs probably have the opposite problem, but I bet there is a subset of the FIRE crowd that this may apply to. Does this ever come up in all the interactions you have? A. It was no surprise to see this […]

Protecting It: Flood Insurance: Knowing When the Risk Justifies the Cost

Coastal areas flood just as surely as the sun rises and sets over the ocean’s waves. Rivers overflow their banks and fill the basements of homeowners who enjoy great views. And although lakes and ponds pose less of a problem — drought has depleted many — with enough rain, anything is possible. Add the intensifying […]

Have European Leaders Lost The Will To Defend Western Civilization?

Authored by Robert Bridge via The Strategic Culture Foundation, The Western world would have succumbed over 1,000 years ago had its leaders and citizens not made a brave stand in the face of foreign invasion. Today, no less dangerous invaders than those from the past have succeeded where their forebears could not, and without the […]

Real Estate’s Constant Conflict

Do I rent or do I buy? It’s an eternal question, one that can’t be solved with economics alone. This is particularly fraught time to make such a seemingly monumental decision. Interest rates are rising, which means mortgage payments are going up as well. Lock in those rates now or face the prospect of their […]

VW's supervisory board eyes multi-billion electrification plan

FILE PHOTO: Volkswagen e-Golf electric car and charging station are seen during the motor show in Riga, Latvia April 6, 2018. REUTERS/Ints Kalnins FRANKFURT (Reuters) – Volkswagen’s (VOWG_p.DE) supervisory board is due to vote on a multi-billion euro investment plan on Friday, including steps to retool three German plants to mass produce electric cars and […]

Gaius Publius: Amazon Rips Off 238 Cities, States and Provinces, Then Builds in NYC and DC

By Gaius Publius, a professional writer living on the West Coast of the United States and frequent contributor to DownWithTyranny, digby, Truthout, and Naked Capitalism. Follow him on Twitter @Gaius_Publius, Tumblr and Facebook. GP article archive  here. Originally published at DownWithTyranny Andrew Cuomo’s priorities (source) The world’s leading monopolists, Jeff Bezos and Amazon, after much […]

Do we need a Journal of Controversial Ideas?

That is the topic of my latest column for Bloomberg, here is one excerpt: Now enter a newly announced project, called the Journal of Controversial Ideas. It will publish one issue per year, devoted to ideas that otherwise may not receive a fair hearing, and it will allow for anonymous or pseudonymous publication. Princeton philosopher […]

China Reveals Fifth-Generation Stealth Jet's Missile Payload At Zhuhai Air Show

Last week, Beijing’s fifth-generation stealth jets displayed a dazzling fifteen-minute performance at Airshow China 2018. The jets wowed more than 20,000 spectators by performing combat maneuvers in Zhuhai, South China’s Guangdong Province. Two of the four J-20 stealth jets opened their missile bay doors during the presentation, according to new images in a South China […]

Asia shares absorb Nvidia blow, sterling licks its wounds

SYDNEY (Reuters) – Asian share markets turned mixed on Friday as hopes for a thaw in the Sino-U.S. trade standoff were tempered by disappointing results from U.S. chipmaker Nvidia Corp which slugged the tech sector. An employee of a foreign exchange trading company works in front of monitors in Tokyo, Japan November 7, 2018. REUTERS/Toru […]

Mark Zuckerberg Defends Facebook as Furor Over Its Tactics Grows

WASHINGTON — On Thursday, Mark Zuckerberg, Facebook’s chief executive and chairman, held a conference call with reporters to discuss how the social network manages problematic posts and its community standards. The call quickly went sideways. For more than an hour, the 34-year-old billionaire instead fielded questions about how he and his No. 2, Sheryl Sandberg, […]

The Meaning Of A Multipolar World

Authored by Eric Zuesse via The Saker Blog, Right now, we live in a monopolar world. Here is how U.S. President Barack Obama proudly, even imperially, described it when delivering the Commencement address to America’s future generals, at West Point Military Academy, on 28 May 2014: The United States is and remains the one indispensable nation. [Every other […]

CIA Considered Truth Serum For Terror Suspects, Says New Unclassified Report 

The American Civil Liberties Union (ACLU) has just released a new 90-page CIA report, which was provided in advance to the Associated Press (AP), shows how the government’s top spy agency considered using a drug it believed might work as a truth serum and force terror suspects to spill the beans about future attacks. The spy agency determined that a drug called […]

Fed Chairman Seeks to Reassure Those Left Behind by Roaring Economy

HOUSTON — Jerome H. Powell walked the streets of a struggling neighborhood in this otherwise prospering city on Thursday before meeting with community leaders in a visit intended to demonstrate the Fed’s concern about those who have been left behind by a decade of economic growth. Mr. Powell, the Federal Reserve chairman, delivered his standard […]

China's U-turn on market curbs brings back the speculators

SHANGHAI (Reuters) – Speculators are staging a forceful comeback in China’s stock market, bidding up shares in loss-making companies as regulators ease rules around trading, fundraising and backdoor listings to prop up struggling bourses. FILE PHOTO: Investors look at computer screens showing stock information on the first trading day after the New Year holiday at […]

Oil rises on expected OPEC cuts, but surging U.S. supply drags

SINGAPORE (Reuters) – Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. FILE PHOTO: A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016. REUTERS/Sergei Karpukhin U.S. West Texas […]

‘No Morals’: Advertisers React to Facebook Report

Advertisers are the financial engine of Facebook, but lately the relationship had gotten rocky. It got rockier on Thursday. Several top marketers were openly critical of the tech giant, a day after The New York Times published an investigation detailing how Facebook’s top executives — Mark Zuckerberg and Sheryl Sandberg — made the company’s growth […]

Sterling gripped by Brexit crisis; yen enjoys safety bid

SINGAPORE (Reuters) – The British pound struggled to stay afloat in Asian trade on Friday having suffered a tumultuous slide overnight, as investors feared political turmoil in the country could see it crash out of the European Union without a divorce deal. FILE PHOTO: British five pound banknotes.November 14, 2017. REUTERS/Benoit Tessier/File Photo Both the […]

Ebola Outbreak “Worst In Congo's History” As Hundreds Dead; Risk Of Spread To Uganda “Very High” 

The most recent Ebola outbreak spreading through the Democratic Republic of Congo is now the worst in the country’s history, with 209 dead and 333 confirmed or probable cases, according to the DRC’s health ministry.  According to The Express, efforts to contain the disease have been hampered by localized armed conflict and community resistance to health officials.  […]

What Genghis Khan Can Teach Us About American Politics

Authored by Casey Chalk via The American Conservative, The brutal warlord understood how to govern shrewdly and even humanely. Abraham Lincoln, George Washington, Winston Churchill, even Barack Obama: there are many historical figures who Americans have turned to for inspiration in this political distemper. That’s especially true with the midterm elections only a week in […]

654 Central American Migrants Detained After Crossing Arizona Border

654 Central American migrants were apprehended over a two-day period this week after they crossed into the United States near the Lukeville, Arizona port of entry, according to Yuma Sector Border Patrol officials.  Notably, however, they are not part of the Central American migrant caravans which have begun to arrive in Tijuana.  As Breitbart‘s Bob Price […]

Reminder: Birmingham Meetup for Monday, November 19

Come on out and enjoy lively conversation, good company, and some grog! If you live in the Birmingham area, please stop by our meetup. Start your Thanksgiving holiday early and on a good note! Details: Time: Monday, November 19, 5:00 to 8:00 PMGrand Bohemian Hotel, which is opposite the Birmingham Botanical Gardens (the bar is […]

Australia's bank chiefs to face the music as misconduct inquiry wraps up

SYDNEY (Reuters) – The CEOs of Australia’s top banks and wealth manager will testify at a public inquiry into financial-sector misconduct in two weeks of hearings starting on Monday, in the final stages of a year-long process that looks set to transform the industry. FILE PHOTO: A Commonwealth Bank of Australia logo adorns the wall […]

America Has No Peace Movement – Blame The “White Supremacists”

Authored by Philip Giraldi via The Strategic Culture Foundation, The United States of America has no peace movement even though the country has been mired in unwinnable wars since 2001 and opinion polls suggest that there is only lukewarm support among the public for what is taking place in Afghanistan and Syria. This is in […]

Bank Of America Is Leading The New Quant Research Arms Race

As the financial research industry drifts further away from being 100% human powered to relying upon split second decision-making based on data collected by a human/machine hybrids, Bank of America is seeking to lap the competition. The bank’s head of global research, Candace Browning, has put together a squad of six people, including four PhDs that […]

Canadian regulator asks Bombardier to halt executive share sales plan

FILE PHOTO – The logo of Bombardier is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker (Reuters) – The Canadian province of Quebec’s securities watchdog said on Thursday it asked Bombardier Inc (BBDb.TO) to halt stock trades under a […]

Facebook defends Russia response, updates plan to curb misbehavior

SAN FRANCISCO (Reuters) – Facebook Inc (FB.O) Chairman and Chief Executive Mark Zuckerberg on Thursday defended his response to Russian election meddling on the world’s largest social media network and issued a new plan aimed at stifling misbehavior while maintaining a vibrant hub for online speech. FILE PHOTO: Facebook’s founder and CEO Mark Zuckerberg speaks […]

Friday: Industrial Production, NY Fed Quarterly Report on Household Debt and Credit

by Bill McBride on 11/15/2018 07:07:00 PM Related Post China Unveils World’s Largest Transport Drone… China has successfully tested the world’s largest commercial drone developed and manufactured by the China Academy of Aerospace Electro… 2:00PM Water Cooler 9/24/2018 By Lambert Strether of Corrente. Trade The Chinese know about the Iowa primaries: CHINA sends a message to Trump and […]

Why Was Trump’s Tax Cut a Fizzle?

Last week’s blue wave means that Donald Trump will go into the 2020 election with only one major legislative achievement: a big tax cut for corporations and the wealthy. Still, that tax cut was supposed to accomplish big things. Republicans thought it would give them a big electoral boost, and they predicted dramatic economic gains. […]

The Look of Amazon’s HQ2 Winners, Before Amazon

Image Crystal City in Arlington, Va.CreditHector Emanuel for The New York TimesImage Long Island City in QueensCreditChristopher Lee for The New York Times Instead of one new home, Amazon chose two. Two places, with waterfront views and organic shops and abandoned buildings, that will someday house tens of thousands of high-tech workers. We spent much […]

Inside North Korea: The Kim Dynasty Episode

[embedded content]Source: National Geographic CNN: The four-part documentary, scheduled over two Sunday nights, analyzes North Korea’s “strange psychology,” rooted in the indignities suffered under Japanese occupation before the end of World War II. Part I is thus devoted to Kim Il Sung, a guerrilla fighter who came to power and solidified his hold over the […]

Shares of beleaguered utility PG&E pop 37% after hours

Shares of utility PG&E popped 37 percent in after hours trading Thursday, a sharp move upward for the stock, which has fallen more than 50 percent this week. PG&E’s stock has sunk amid concerns that its equipment could be partly responsible for the so-called Camp Fire raging in Northern California. There was no obvious cause […]

Vanguard rolls out HSAs for 401(k) participants

Vanguard Group will start offering health savings accounts to its defined-contribution-plan clients, the retirement-plan record keeper and asset manager announced Thursday, capitalizing on the increased popularity of HSAs. Vanguard, the largest manager of DC-plan assets, is partnering with the custodian HealthEquity to provide HSAs to 401(k) plan clients. The company will give plan sponsors the […]

Wisconsin Employment Declines, Previous Revised Down

Figures released by DWD suggest a slowdown in Wisconsin. Figure 1: Wisconsin nonfarm payroll employment, from August release (green), September release (red), and October release (blue). BLS and DWD. In addition, Minnesota has (again) essentially caught up with Wisconsin in employment. Figure 2: Minnesota nonfarm payroll employment (blue) and Wisconsin (red). BLS and DWD, DEED. […]

Why seniors need travel insurance

When your newly retired clients chat about their plans for an upcoming dream vacation abroad, are you prepared to raise the topic of travel insurance? While younger clients might dismiss the added expense as unnecessary, older clients should seriously consider such protection. Why? Travel insurance protects against more than lost luggage and weather-related travel delays. […]

Goldman CEO 'personally outraged' by Malaysia's 1MDB corruption scandal

(Reuters) – Goldman Sachs Group Inc Chief Executive Officer David Solomon has told employees he is “personally outraged” that any of the bank’s officials would take the actions laid out in U.S. government charges of fraud involving Malaysia’s state controlled investment bank, 1MDB. FILE PHOTO: David Solomon, CEO of Goldman Sachs, at the Bloomberg Global […]

Wells Fargo cuts 1,000 jobs across the U.S.

Wells Fargo & Co. is cutting about 1,000 jobs across its consumer-lending and tech-payments units as part of a much larger workforce reduction announced earlier this year. Approximately 900 of the positions will come from the bank’s home-lending unit, company spokesman Tom Goyda said in an emailed statement, as higher interest rates and heightened competition […]

Wells Fargo plans 1,000 U.S. job cuts

The sign at a Wells Fargo banking location is pictured in Pasadena, California, U.S., September 8, 2017. REUTERS/Mario Anzuoni (Reuters) – Wells Fargo & Co said on Thursday it notified about 1,000 employees in its Consumer Lending and Payments, Virtual Solutions and Innovations groups of plans to eliminate their positions. The layoffs are consistent with […]

Want to attract millennial investors? Time to rethink AUM pricing

As the average age of clients continues ticking upwards, firms across the financial advice industry are discussing attracting with Gen X and Gen Y clients. But talk is all that many firms are doing. Recent data from TD Ameritrade reports only 23% of registered investment advisers have a strategy in place for younger clients. Things […]

Mercer Advisors bags its third RIA this month

Mercer Advisors will increase its total assets under management to $14.5 billion with its latest acquisition, of Financial & Investment Management Group. FIM Group, which manages $600 million with offices in Michigan and Wisconsin, marks the second acquisition Mercer has announced this week and its third this month. FIM Group is based in Traverse City, […]

DoubleLine Capital LP warns on U.S. investment-grade bonds

NEW YORK (Reuters) – DoubleLine Capital LP portfolio manager Monica Erickson has a problem. She thinks the investment-grade corporate bond market, which is her specialty, is the worst place to be for bond investors. Monica Erickson, senior portfolio manager at DoubleLine Capital LP, speaks during the Reuters Global Investment 2019 Outlook Summit in New York, […]