Page 73 - John Maynard News Today

Opinion by Paul Williams Premium Content A quiet revolution is unfolding in Australias economy, but few are aware of it. On May 11, Treasurer Josh Frydenberg will rewrite many of the economic orthodoxies the Coalition and Labor have championed for almost four decades. Before the economic reforms of Labors Bob Hawke and Paul Keating, 1970s Australia - like much of the Western world - battled high unemployment and inflation with higher taxes and big spending....

The #1 Rule of Investing From the Wizard of Wall Street  Share   Share “The really great fortunes are made by concentration, not diversification.” — Gerald Loeb, “Maxims of Wall Street,” p. 157 Who is quoted the most in “The Maxims of Wall Street”? Among living legends, the Oracle of Omaha has the gift of wisdom. Warren Buffett is quoted 34 times in the new 7 th edition, and I keep finding new ones for each edition. But the second most quotable guru may surprise you. No, it�...

A revelatory biography of the Bloomsbury outsider and influential critic who championed modern art Detail of a portrait of Clive Bell by Roger Fry circa 1924. Photograph: Alamy Detail of a portrait of Clive Bell by Roger Fry circa 1924. Photograph: Alamy Wed 5 May 2021 04.00 EDT One day when he was looking along his bookshelves, Mark Hussey realised that they contained no biography of Clive Bell. You can see why it would strike the distinguished Bloomsbury scholar as odd. Over the past 50 years...

Wealth Should Trickle Up, Not Down Income inequality in the United States hampers growth and forces up debt. In advanced economies in which investment is not constrained by scarce savings, high levels of income inequality lead automatically to either more unemployment or more debt. Such inequality undermines not only the health of the economy, but eventually also the rich. Please share this article - Go to very top of page, right hand side, for social media buttons. In recent decades, income in...

Like many wise money quotes, nobody is quite sure who originally said: “When the facts change, I change my mind. What do you do, sir?” It’s frequently credited to economist John Maynard Keynes. A popular story goes that Keynes changed his mind on a financial issue, was criticized for his “flip flop”—and then delivered the ...

The New Deal and Recovery, Part 12: Fear Itself SHARE "This great Nation will endure as it has endured, will revive and will prosper. …[T]he only thing we have to fear is fear itself." —FDR, in his first inaugural address. "There is no place for industry; because the fruit thereof is uncertain." —Thomas Hobbes, on the state of nature, in Leviathan. Not the Sum of its Parts So far, Ive tended to look at the New Deal as a set or sequence of distinct government policies and programs,...

When the United Kingdom voted to leave the European Union, a world of uncertainty unfolded for those doing business in the UK and the EU. The referendum was passed in July 2016. Including subsequent delays, the separation was completed after four years in January 2020, with a transition period ending December 2020. Even with the deadlines past, there are still pockets of uncertainty stemming from the separation. We asked this week’s Expert Panel Roundtable: How has Brexit affected the securit...

Spread the love COMMENT: Hi Mr. Armstrong…..this is a surprising (to me) summary, on John Law. Every piece I ever read about him, cast him as a complete scoundrel, yet you obviously write with admiration. Just another example of history depending on someone’s perspective. You never cease to surprise. And that’s good. HS REPLY: John Law was actually a brilliant man. His legacy is not so different from John Maynard Keynes. He advocated deficit spending ONLY in times of recession, but govern...

Yes.  We are in a stock market bubble. But what if conventional methods of examining market cycles miss a crucial point? While we often talk about parts of cycles  (bull or bear), exploring the full-market cycle may provide another way to look at long-term bubble cycles. The Speculative Cycle Charles Kindleberger suggested that speculative manias typically commence with a  “displacement,” which excites speculative interest. The displacement may come from either an entirely new investm...

Yes.  We are in a stock market bubble. But what if conventional methods of examining market cycles miss a crucial point? While we often talk about parts of cycles  (bull or bear), exploring the full-market cycle may provide another way to look at long-term bubble cycles. The Speculative Cycle Charles Kindleberger suggested that speculative manias typically commence with a  “displacement,” which excites speculative interest. The displacement may come from either an entirely new investm...