Palm Beach County seeks to end lease with Trump’s golf course

U.S. President Donald Trump plays golf at the Trump International Golf Club in West Palm Beach, Florida, U.S., December 30, 2020. Marco Bello | Reuters Palm Beach County in Florida this week began seeking a way to terminate a contract with President Donald Trump’s prized International Golf Club. The county attorney’s office confirmed to NBC News on Friday that an official asked if Palm Beach has ways to cancel its lease with the president’s beloved, West Palm Beach course. The Palm Beach Post, which first reported that the county was…

Read More

A World without Political Leaders?

The French political philosopher Pierre Manent has a view of politics that my readers are likely to reject, and rightly so. He has written a great deal about the French classical liberals, especially Tocqueville, but his heart lies more in the study of the classics. In his books, such as Metamorphoses of the City, he offers careful readings of Aristotle, Cicero, and many others. Few can match his interpretative depth. But there is a flaw in his method, and the flaw is not that his readings have been influenced by…

Read More

Guido Hülsmann on The Ethics of Money Production

Guido Hülsmann’s The Ethics of Money Production is a masterclass both on the fundamentals of money and the disastrous moral consequences of monetary “policy.” Inflation is not only an economic problem which impoverishes us materially, but a deeply corrosive force in society for individuals. There is no better work to explain the broader implications of central banking which go almost totally unremarked in the financial press. Podcaster Stephan Livera is a big fan of the book and joins the show to explain why you need to read it. Guido Hülsmann’s The…

Read More

How Government Policy Reduces Fertility

The United States, Canada, Australia, New Zealand, South Korea, Japan, and every country in Europe have fertility rates below replacement level (2.1 births per woman). And where there is smoke, the state has lit a fire. This is not an accident, and much of what’s behind these demographic trends can be found in economic policy. Below I’ll sprint through some of the many avenues through which the state encourages low fertility rates. One of the clearest channels is forcing the productive to pay for others’ abortions and contraception. Beyond subsidizing…

Read More

Low Rates and Limited Liability Mean Hot Markets

The taxpayer is backstopping more credit risk than ever. The Post reported that nearly 30 percent of the loans Fannie Mae guaranteed were to borrowers whose house payment exceeded half of their monthly income, up from 14 percent in 2016.  Original Article: “Low Rates and Limited Liability Mean Hot Markets” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

Read More

Wells Fargo (WFC) earnings Q4 2020

A man walks past a Wells Fargo Bank branch on a rainy morning in Washington. Gary Cameron | Reuters Wells Fargo released on Friday mixed results for the fourth quarter of 2020, sending the bank’s stock lower. Here’s how the numbers compared to Wall Street expectations: Earnings: 64 per share vs. Refinitiv estimate of 60 cents per share Revenue: $17.93 billion vs. $18.127 billion forecast Net interest income: $9.275 billion vs. $9.34 billion FactSet estimate Shares of Wells Fargo dipped 3.8% before the opening bell. The bank’s earnings include a…

Read More

JPMorgan earnings Q4 2020

Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase is scheduled to report fourth-quarter earnings before the opening bell Friday. Here’s what Wall Street expects: Earnings: $2.62 per share, 2.1% higher than a year earlier, according to Refinitiv. Revenue: $28.7 billion, 1.7% lower than a year earlier. Net Interest Margin: 1.84%, according to FactSet Trading Revenue: Fixed income $4.12 billion, Equities $1.84 billion JPMorgan Chase, the first major…

Read More

Citigroup earnings Q4 2020

Jane Fraser, chief executive officer for Latin American at Citigroup Inc., speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. Kyle Grillot | Bloomberg via Getty Images Citigroup is scheduled to report fourth-quarter earnings before the opening bell Friday. Here’s what Wall Street expects: Earnings: $1.34 a share, 38% lower than a year earlier, according to Refinitiv Revenue: $16.7 billion, 9.1% lower than a year earlier Net Interest Margin: 2.01%, according to FactSet Trading Revenue: Fixed income: $2.61 billion, Equities: $697 million,…

Read More