Quote of the Day
"The reality of our economy is also that the shock of the pandemic and inflation brought to the fore the fact that a considerable portion of people in an affluent country are too on the edge when it comes to their incomes versus their needs and wants."
(Zachary Karabell)
Chart of the Day
It’s not unusual for the Fed to cut rates when the stock market is near all-time highs. (via @RyanDetrick)
Strategy
- Beware anyone offering high, guaranteed returns. (wsj.com)
- Better process leads to better outcomes. (mrzepczynski.blogspot.com)
Immigration
- Noah Smith, "Trump’s lies about the Haitians of Springfield have given America a glimpse of the dark vision that lies beneath the populist anger." (noahpinion.blog)
- Immigrants are helping revitalize Rust Belt cities like Springfield, OH. (radleybalko.substack.com)
- Employers are clamoring for immigrant workers. (npr.org)
Policy
- Why few are talking about mounting public debt. (wsj.com)
- There is a limit to how much revenue states can generate from gambling. (boondoggle.substack.com)
- Exempting overtime pay from taxation would be a mess. (axios.com)
Economy
- Q3 GDP is tracking for 3% growth. (calculatedriskblog.com)
- How to think about the yield on the 2-year Treasury. (disciplinefunds.com)
- Is the labor market setting up for a rebound? (apolloacademy.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
