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In a major victory for common sense, a group of cosmetologists defeated an insanely stupid regulation passed down by the state of Louisiana. Louisiana, just like the other 49 states in the Land of the Free, governs licensing requirements for dozens… hundreds of professions… ranging from athletic trainers to tour
Like a lot of major cities in the United States, Philadelphia is in pretty rough financial condition. One of the city’s biggest problems is its woefully underfunded public pension, which has a multi-billion dollar funding gap. In 2001, Philadelphia’s pension fund was still in decent shape with a funding level
As you you’ve no doubt seen by now, shares of Facebook plunged around 19% this morning. In fact it was down as much as 25% in after-hours trading, wiping out $120 billion of wealth in a matter of minutes. To be clear, that is the largest single-day loss of value
I have to chuckle a bit… The mainstream media is now picking up on the idea of a second passport; and even adopting the Sovereign Man ethos of having a “Plan B.” Bloomberg published a widely-distributed article with the headline: Where the Super-Rich Go to Buy Their Second Passport The
[Editor’s Note: One of the most important topics we cover in Notes from the Field is the current state of pension funds around the world, a.k.a. the global pension crisis. Read the following articles carefully, and implement some of our recommended strategies in 2019. Today’s article was originally published on
One of the biggest banks in the world – a name you would certainly know – just pitched its top clients on a major investment. The deal was only offered to its private clients (with at least $50 million in net assets); and as I started reading through the opportunity,
Yesterday the Office of Management and Budget released a new report called the “Mid-Session Review” of the US federal budget. It’s something they’re required by law to do– periodically review and update the government’s budget and track the changes. The last government budget update was released in February. And according
Over the weekend I came across a recent speech given by hedge fund billionaire Stanley Druckenmiller that really lays out the pitiful state of free markets around the world. Druckenmiller gave the speech a few months ago upon receiving the 2018 Alexander Hamilton award– which is given to a figure
It was only a few day ago that Netflix was riding high. The streaming company had been nominated for a whopping 112 Emmy awards, more than any other network. And they’d further managed to unseat HBO’s 17-year reign as the undisputed king of Emmy nominations. That’s all fine and good.
About two and a half years ago, I told you about a particularly nasty piece of legislation that President Obama quietly signed into law towards the end of his administration. They called it the “FAST Act”, which stood for Fixing America’s Surface Transportation. Yet despite $300 billion earmarked for infrastructure
It’s been a tough week for Tesla. Bloomberg Businessweek reported Tesla factory workers were given Red Bull to stay awake to meet aggressive Model 3 production goals (and told to walk through a raw sewage spill to keep the line moving). Also, because Tesla has delivered 200,000 cars to US
We’ve spent a lot of time in our regular conversations talking about the looming retirement crisis around the world. The data is horrific. Pension and Social Security programs in nearly every developed nation are woefully underfunded. In the United States, senior government officials including the Secretary of the Treasury, the
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