Posts filed under “Really, really bad calls”

Gay Discrimination Is A Billion Dollar Self-Indulgence

By now, you have surely heard about Indiana’s so-called Religious Freedom Restoration Act and its potential for giving cover to those who discriminate against gay people. A backlash that had already been gathering momentum burst open this weekend, driven by an op-ed by Apple Chief Executive Officer Tim Cook in the Washington Post. As Cook wrote:

America’s business community recognized a long time ago that discrimination, in all its forms, is bad for business.

The law’s passage has led to a torrent of business responses. I want to discuss the potential economic aspects of these, and what it might mean to the state of Indiana.

At stake are losses for manufacturing ($95.4 billion in annual state output), finance ($44 billion) and tourism ($10.3 billion) — not to mention reputational harm. Arizona adopted a similar religious-freedom bill last year, but “opposition from the state’s business interests led Republican Governor Jan Brewer to veto it.”

Any discussion of the economic implications and financial consequences of this law must take account of the speed of the response and the wave of unfavorable publicity

Continues here:  Indiana’s Costly Anti-Gay Experiment

 

 

Category: Legal, Politics, Really, really bad calls, Taxes and Policy

Indiana’s SB-01– Is Not Pro Religion, Its Anti-Gay

Governor Mike Pence is lying about the purpose of this law. The photo below, and who the governor invited to its being signed into law, very much reveals the motivation behind SB101 — its not pro-religion, its anti-gay, and thats wrong. Its also bad business — companies like Apple and Angies List may very well…Read More

Category: Legal, Really, really bad calls

Interest Rates Aren’t Going Anywhere . . .

Source: BAML, Fiscal Times     I have been fairly agnostic on several issues related to where interest rates are heading. It has never been my job to forecast where the 10-year yield will be in six months. Not predicting and not caring are two very different things, however. Rates matter a great deal — to investors, to the economy…Read More

Category: Credit, Federal Reserve, Fixed Income/Interest Rates, Psychology, Really, really bad calls, Taxes and Policy

More Long Bonds Now!

Every once in a while, there is a way to resolve a host of problems that is so obvious it gets overlooked. With that in mind, and in light of yesterday’s Federal Open Market Committee meeting and the reaction that followed, let’s have a look at four big problems: crumbling U.S. infrastructure; federal budget deficits;  normalizing…Read More

Category: Really, really bad calls, Taxes and Policy

Another Good 1929 Call . . .

Sometimes you have to diary these things for a few years and revisit them: Markets Showing ‘Extreme Similarities’ With 1929 Crash: Pro CNBC.com, Tuesday, 19 Mar 2013 | 8:53 AM ET “Investors should remain on the sidelines and wait for a market correction as a 4-year rebound comes to an end, Sandy Jadeja, chief market…Read More

Category: Markets, Really, really bad calls, UnGuru

John Oliver on The Scandal That is the NCAA

The NCAA doesn’t pay athletes because they consider them amateurs. The NCAA considers them amateurs because they don’t get paid.

Last Week Tonight with John Oliver: The NCAA

HBO, 3.15.15

Category: Really, really bad calls, Sports, Video

Gold Narrative Has Just Not Worked

Category: Cognitive Foibles, Gold & Precious Metals, Media, Really, really bad calls

Time for Janet Yellen to Go On the Ellen DeGeneres Show

This week, the NBC/Wall Street Journal poll on presidential contenders for 2016 came out. It was the usual sort of thing: Favorable versus unfavorable ratings for the candidates: Democrats like Hillary; Republicans like Jeb (but not as much as Dems like Hillary); no one likes Chris Christie or Donald Trump. But you might have missed a fascinating tidbit buried…Read More

Category: Federal Reserve, Really, really bad calls, Taxes and Policy

Gold Turns Negative Year-to-Date; Stocks to Follow

Equity markets started off this year by falling. They rallied in February, working their way back into the green. The Standard & Poor’s 500 Index now is up about 1 percent for the year. Gold has traveled the opposite path: The yellow metal began at about $1,175 an ounce. By Jan. 23, it had rallied…Read More

Category: Cognitive Foibles, Gold & Precious Metals, Really, really bad calls, Trading

Late to the Party Again: Apple Gets Added to the Dow

I want to address the addition of Apple to the Dow Jones Industrial Average, so we have to get a few things out of the way up front. The venerable Dow isn’t really all that important. It began life on May 26, 1896, but in the last 30 or so years, it has faded in…Read More

Category: Index/ETFs, Investing, Really, really bad calls, Technology