United (UAL) earnings Q4 2020

A Boeing 787 Dreamliner operated by United Airlines takes off from Los Angeles International Airport. Getty Images United Airlines on Wednesday posted a fourth-quarter loss and warned sales would continue to suffer in the early part of 2021 as the coronavirus pandemic drags on. Here’s how United performed in the quarter, compared with what Wall Street expected, based on average estimates compiled by Refinitiv: Adjusted earnings per share: a loss of $7 versus an expected loss of $6.60 a share. Revenue: $3.41 billion versus expected $3.44 billion in revenue. United’s…

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The Unwelcome Return of the Real Purveyors of Violence

With the mainstream media still obsessing about the January 6th “violent coup attempt” at the US Capitol Building, the incoming Biden Administration looks to be chock full of actual purveyors of violent coups. Don’t look to the mainstream media to report on this, however. Some of the same politicians and bureaucrats denouncing the ridiculous farce at the Capitol as if it were the equivalent of 9/11 have been involved for decades in planning and executing real coups overseas. In their real coups, many thousands of civilians have died. Take returning…

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Beware the Troop-Withdrawal Bait and Switch

Foreign policy apparatchiks are adept at gaslighting the public into believing they’re bringing troops back home when in reality they’re either shifting troops around or just biding their time until a new round of “boots on the ground.” Original Article: “Beware the Troop-Withdrawal Bait and Switch​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.   Source link

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Time Preference, Interest Rates, and Stagflation

A common conception is that the central bank is a key factor in the determination of interest rates. In this way of thinking, the key role of the central bank is to make sure that the so-called economy is placed on a trajectory of stable economic growth and stable inflation. If for whatever reason the economy appears to deviate from the specified trajectory, then it is the responsibility of central bank policy to ensure the economy remains on this path. This is attained, so it is held, by means of…

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Halfway to Secession: Unity on Foreign Policy, Disunity on Domestic Policy

When it comes to talk about secession, the strategy employed by most Washington politicians is to shrug it off, claim it’s all the plotting of extremists, and retreat to the comfort of the idea that the elites control high-ranking military officers at the Pentagon. In their minds, it will always be easy to bomb disobedient Americans into submission. As far as long-term thinking goes, these people are kidding themselves. These are the same sorts of people who assured us in 1980 that the Soviet Union would be around for centuries more. They’re…

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What Biden/Harris Will Do | Mises Wire

Paraphrasing the late Murray Rothbard, the “two party” system in America during the twentieth century worked something like this: Democrats engineered the Great Leaps Forward, and Republicans consolidated the gains. Wilson, Roosevelt, and Johnson were the transformative presidents; Eisenhower, Nixon, and Reagan offered only rhetoric and weak tea compromises. In politics, being for something always beats being against something, and Republicans were never much against expanding federal power provided they had a place at the trough. George W. Bush challenged this dynamic in the early twenty-first century. Despite his own intellectual incuriosity, he used…

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Why Governments Want More Centralization—and Less Federalism

Federalism, which Felix Morley called “the distinctively American contribution to political art,” arose from our founders’ desire to limit government’s ability to harm its citizens. The Constitution restricted nondelegated powers to states and individuals in their private arrangements, empowering citizens by allowing easier escape from abusive government by “voting with their feet” for jurisdictions with less hostile governance. That set a tighter limit on government ability to impose burdens that outweighed benefits. Government inefficiency and redistribution beyond what citizens support (which often overlap, as inefficiency is often redistribution toward unionized…

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Morgan Stanley (MS) Q4 2020 earnings

James Gorman, chairman and chief executive officer of Morgan Stanley, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galici | Getty Images Morgan Stanley is set to report fourth-quarter earnings before the opening bell on Wednesday. Here’s what Wall Street expects: Earnings: $1.27 a share, 2.4% lower than a year earlier, according to Refinitiv. Revenue: $11.5 billion, 6.3% higher than a year earlier. Wealth management: $5.2 billion, according to FactSet. Trading: Equities $2.14 billion; fixed income $1.42 billion. How…

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Procter & Gamble (PG) Q2 2021 earnings

Bottles of Tide detergent, a Procter & Gamble product, are displayed for sale in a pharmacy on July 30, 2020 in Los Angeles, California. Mario Tama | Getty Images Procter & Gamble is expected to announce its fiscal second-quarter earnings before the bell Wednesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: $1.51 expected Revenue: $19.27 billion expected In the company’s fiscal first quarter, it reported net sales growth of 9%, pushing its quarterly revenue to $19.32 billion. Its business spans a wide variety of…

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