The Covid Market

The sharp rebound of the stock market has been as surprising as the sharp selloff in March. Unemployment has reached levels unseen since the Great Depression of 1929; production has dropped 40% and M2 money creation is up 25%, all in the space of only a few months....

Our Exaggerated Demise

From Kevin Williamson at National Review, The World Keeps Not Ending: Tom Wolfe joked that “the dark night of fascism is always descending in the United States and yet lands only in Europe,” which wasn’t quite right: There’s Saudi Arabia, and China, and Burma . . ....

Internet Sales Tax Ruling

The Supreme Court just ruled that states can collect sales taxes from internet sales and shipments. Previous sales taxes could only be collected from a business with a physical presence in that state.  The 5-4 majority decided this was simply a recognition of the...

Benign and Intolerable Job Destruction

from National Review, Who Will Protect Americans from the Protectionists? by George Will Today’s Republican administration promises protection against the destruction of American jobs by the Chinese, Mexicans, and other foreigners. The really prolific destroyers are:...

The New Robber Barons

From Joel Kotkin at New Geography, TODAY’S TECH OLIGARCHS ARE WORSE THAN THE ROBBER BARONS Now from San Francisco to Washington and Brussels, the tech oligarchs are something less attractive: a fearsome threat whose ambitions to control our future politics, media, and...