Google, risk, taxes, Biden’s plan, China, and much more.
Category: Capital Matters
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The Capital Note: Google Under Attack, the Fed Frets about Risk
On the menu today: The war on Google, the Fed worries about what ultra-low interest rates might mean, the Biden
The Capital Note: Following the Money in Beijing
On the menu today: Parsing China’s economic data, oil industry consolidation, and a new paper sheds light on the vulnerability
The Capital Letter: Week of October 12
The economics and politics of stimulus, taxes everywhere, the tech wars, the deficit, South Sudan, and more.
The Capital Note: China Bulls Shop, Europe’s Sour Grapes
On the menu today: China’s successful bond issue, America’s high tech, China’s Covid exports (no, not that one) and the
The Capital Note: ‘Stakeholder Capitalism’ or Democracy: Choose One; Yield or Human Rights: Choose One
On the menu today: ESG (again), Renminbi revival, the economics of vending machines, the economics of the Spanish Flu, and
The Capital Note: SPACs & Stimulus
On the menu today: a SPAC ETF, Congress debates another round of stimulus, and Donald Kendall, R.I.P.
The Capital Note: Election Trades & Real Estate Troubles
On the menu today: Wall Street braces itself for November, trouble in commercial real estate, and a look at exponential-growth
The Capital Note: Forward Guidance & the Fate of Cities
On the menu today: the Fed’s forward guidance, the fate of cities, and the use of collateral in emerging markets.
The Capital Note: Debt, Windfalls, and Disaster
On the menu today: Debt and windfall waste, the lockdown reflex, oil tankers as warehouses, green protectionism, and the (partial)
Milton Friedman’s Shareholder Primacy Stands the Test of Time and Helps Many Stakeholders 50 Years Later
Joe Biden and CEOs emphasize helping non-shareholder stakeholders, but they ignore how Friedman’s shareholder primacy theory does exactly that.
The Capital Note: Commodities, Cars & Climate
On the menu today: the unraveling of LVMH’s Tiffany acquisition, the tech selloff, and the economics of the Olympics.
The Capital Note: Cities after COVID & GM’s Electric Vehicle Push
On the menu today: work from home, GM’s investment in Nikola, and a look at the Vegas-Wall Street pipeline.
The Capital Note: Thinking Through Lockdowns
On the menu today: Lockdowns, a small-company debt crunch, a motel revival, nukes, and short sellers.
The Capital Note: Update from ESG Street
On the menu today: ESG, Trader Joe’s COVID challenges, autonomous trucks, Argentine subsidies, and Soviet gold.
The Capital Note: Lockdowns & Lumber
Small business, work from home, how a lumber shortage is increasing the size of one university’s endowment, and more.
The Capital Note: Individual Investors, Inflation & the Invisible Hand
The Role of Robinhood, Inflation-Adjusted Capital-Gains Taxes, Shakespeare’s Influence on Adam Smith, and more.
The Capital Note: Kodak’s Slide & Adam Smith’s Kidnapping
Higher home ownership rates, unpacking Kodak’s mismanagement of government funds, and the (likely apocryphal) kidnapping of Adam Smith.
The Chinese Economic Threat
As Sino–American relations continue to deteriorate, liberal democracies need to unite against China’s ever-expanding economic influence.
The Cost of China’s Intellectual-Property Theft
Imagine if pirates were sailing up and down America’s coasts, plundering treasure worth between 0.9 percent and 2.6 percent of