Category: Big Markets Small Markets


Anyone mature enough to remember the 1964 presidential debates between Lyndon Johnson and Barry Goldwater?

How about the debates four years later between Richard Nixon and Hubert Humphrey? Nixon vs. McGovern in 1972?

President Jimmy Carter, left, and Republican Presidential candidate Ronald Reagan, shake hands Tuesday night, October 28, 1980, in Cleveland, Ohio, before debating before a nationwide television audience. (AP Photo/stf)

There was precisely one presidential debate in 1980. Jimmy Carter was throwing the political equivalent of a Hail Mary pass, only to have Ronald Reagan remind the nation they were not better off after four years of Carter’s troubled presidency.

Almost DailyBrett is asking here-and-now: Are 2020 presidential debates a forgone conclusion?

Yes, there is the hallowed Commission on Presidential Debates. How many grande lattes at Starbucks does that fact, buy?

The first 2020 presidential debate is set for Tuesday, September 29 at University of Notre Dame followed by a vice presidential debate and two more presidential debates on college campuses in October.

One of the real questions that must be asked: Are there any objective impartial  journalists, at least pretending to be fair, who can moderate the 2020 debates?

If not, does that provide President Donald Trump the Twitter excuse for not participating in any of the presidential debates, ditto for Vice President Mike Pence?

In a world dominated by partisan polemics on television (i.e., Anderson Cooper, Don Lemon, Rachel Maddow, Sean Hannity, Chuck Todd, Brian Williams … ), are there any real journalists left that can moderate a debate between Donald Trump and Bernie Sanders?

Do you think that crying Martha Raddatz will ever referee another debate after showing her true colors on election night 2016?

Only 41 Percent Trust The Media, 36 Percent on Independents, 15 Percent of Republicans

Ever wonder why 69 percent of Democrats — according to Gallup — trust the media?

Could it be the media doesn’t even attempt to be fair anymore? Modern era journalism professor-types claim there was never a time of true objectivity and impartiality; these virtues are just so … yesterday.

As Almost DailyBrett opined more than once: Oppositional Journalism rules the day. That contention cannot be questioned any longer. Interpreting media elites should be required to register as special interest lobbyists.

LAS VEGAS, NV – OCTOBER 19: Fox News anchor and moderator Chris Wallace speaks to the guests and attendees during the third U.S. presidential debate at the Thomas & Mack Center on October 19, 2016 in Las Vegas, Nevada. Tonight is the final debate ahead of Election Day on November 8. (Photo by Chip Somodevilla/Getty Images)

Besides the likes of Chris Wallace and Bret Bair, are there any truly objective journalists who would be fair to The Donald and Bernie without “Feeling The Bern?”

Does the dwindling supply of truly fair (let’s drop the term, “objective”) journalists provide justification to President Trump to not debate in 2020. Would the celebrity truly bypass an open microphone on a national stage? Probably not, but he has the option to debate or not debate (he turned down a GOP primary debate in the last presidential election cycle).

As a former press secretary for California Governor George Deukmejian, we made the decision to skip 1986 gubernatorial debates with Los Angeles Mayor Tom Bradley.

As a result of our decision to not debate the second time around, the editorial pages of California’s elite media blasted our stand and wondered aloud about the fate of Democracy in the Golden State.

The California electorate knew these two candidates as they were contesting each for a second time in just four years. We were also cruising to re-election, winning 61 percent to 37 percent in the blue state’s greatest-ever landslide.

If Trump opts out of one, two or all of the debates, will he suffer on the editorial pages of the New York Times, Washington Post, Los Angeles Times and the talking heads on NBC, CBS, CNN, MSNBC and other liberal networks scold the president?

What else is new?

Do the anointed in the Fourth Estate accept any blame that public esteem in the media is once again heading for an all-time low? Your author is betting the media next year will pierce the 32 percent nadir achieved in 2016, and go even lower.

If Trump decides not to debate (his standing in battleground state polls, the robust state of the economy, no new wars, radical socialist opponent … ), do the elite media — who no longer even attempt any more to be fair — bear any responsibility?

The answer is an obvious, ‘yes,’ but collectively they are too sanctimonious to admit the obvious.

https://news.gallup.com/poll/267047/americans-trust-mass-media-edges-down.aspx

https://www.debates.org/2019/10/11/commission-on-presidential-debates-announces-sites-and-dates-for-2020-general-election-debates-and-2020-nonpartisan-candidate-selection-criteria/

https://almostdailybrett.wordpress.com/2018/02/15/oppositional-journalism/

https://almostdailybrett.wordpress.com/2019/03/26/oppositional-journalisms-victory/

Donald Trump Attacks Debate Commission, But Suggests He’ll Still Face Off With Democratic Nominee

 

The Pac-12 Conference needs a divorce, a final end to its slavery to ESPN.

Smug and arrogant ESPN does not even try to be fair anymore.

The only teams that matter are represented by their top five football Pharisees: Homers Kirk Herbsteit and Joey Galloway for Ohio State, and Rece Davis (Alabama), David Pollack (Georgia) and Jesse Palmer (Florida).

There are only four playoff spots and five major conferences, so someone is always going to be the odd-man out. And who would that nearly always be?

Certainly not a particular football factory in Ohio. And equally not teams suckled in the Cradle of the Confederacy.

Alas that means, the Pac-12 Conference is out in the cold again … only two appearance in six long years of the College Football Playoff (CFP).

Some have suggested expanding the playoff to eight teams, providing four more annual opportunities to expand the presence of the SEC. Some have offered the Pac-12 should reduce its conference games from nine-to-eight and schedule late season Southern-fried cupcakes instead (i.e., Clemson vs. Wofford, Alabama vs. Western Carolina, Auburn vs. Samford & Son).

Almost DailyBrett believes the left-coast schools need to embark upon nothing less than a Democratic Football Revolution, getting out of the College Football Playoff and bringing the Rose Bowl along for the ride.

Always The Granddaddy Of Them All

Let the Las Vegas Bowl in the new Raiders stadium serve as one of the six bowls that are rotated for the four/eight teams annually championed by ESPN for the playoff: Peach, Orange, Sugar, Cotton, Fiesta, Vegas.

The Granddaddy of Them All, the Rose Bowl, will retain its hallowed tradition of always hosting the Pac-12 champion (e.g., Oregon Ducks this year) and the highest available team from the Big-10 (e.g., Wisconsin). The winner will be the champions of the Rose Bowl, and that has always been The Deal and it always should be.

Sorry, last year’s Rose Bowl game between carpetbaggers Georgia and Oklahoma will be the final game ever for non-Pac 12 and Big 10 teams.

Almost DailyBrett contends the Pac-12 Conference should return to the days of a tried-and-true round robin. Every Pac-12 team will play ever other conference team (six at home and five on the road one year, five at home, six on the road next year).

Instead of a 13th game each year for two teams in a tarped empty conference championship game on a desultory Friday night, that game and the two conference divisions will simply go away.

Everyone will play 11 conference games and two non-conference games (i.e., USC and Stanford can maintain their respective ties to Notre Dame, Utah to BYU, Oregon State to Cal Poly … ).

Make The Pac-12 Great Again

“If a college football game is broadcast on a network no one can watch (e.g., Pac-12 Networks) is the game actually played?”

Commissioner Larry Scott needs to be shown to the door along with his $5.2 million annual salary, the largest by far of conference commissioners.

He “pioneered” Pac-12 Networks along with its inability to sign contracts, shutting out most conference fans from its programming. What’s the point, Larry?

By almost any measurement, the “Conference of Champions” is failing. The conference doesn’t win anymore. It enters into one-sided agreements (e.g., $3 billion with ESPN and Fox) for 12 years. Worst of all, the Pac-12 bargained away its authority to set the times for conference member home games.

Scott believes the answer may lie with 9 a.m. kickoffs … stadiums open at 7:30 am, tailgates at 6 am, team prep begins at 4:30 am, parking lots at 4 am, game day commutes at 2 am.

Does something sound wrong?

Alas, this horrible TV deal runs thru at least 2023.

In the humble opinion of Almost DailyBrett, the new commissioner of the Pac-12 (an adult next time, please) needs to insist that each school hosting a home game will not be a mere commodity. The conference’s purpose should be more than filling ESPN “programming” holes.

The conference will play its games on Saturdays … only on Saturdays … between noon and 6 pm (exception: 7:30 pm Arizona and ASU home games in late August, September and early October for obvious reasons).

Each game time will be determined before the season, allowing fans to schedule game days and university development departments and alumni associations to coincide fundraising with football.

The true round-robin format generates head-to-head tie-breakers, ensuring the Pac-12 champion will undoubtedly be the Pac-12 champion. There will be zero opportunities for cup-cake games to pad won-loss records. Pac-12 teams will each play tough schedules, and that’s the way it should be.

The ultimate reward and team goal will be playing in the Rose Bowl on New Year’s Day.

The hallowed opinions of ESPN’s homers and their predetermined “playoff” will simply … not matter.

https://www.liveabout.com/rose-bowl-scores-791218

https://www.seattletimes.com/sports/uw-huskies/pac-12-revenues-dipped-by-12-million-in-2018-while-commissioner-larry-scotts-salary-increased/

https://www.oregonlive.com/sports/2019/12/canzano-college-footballs-troubles-will-be-punctuated-with-more-empty-seats-in-pac-12-title-game.html

https://www.spokesman.com/stories/2019/jul/30/pac-12-after-dawn-washington-states-mike-leach-sta/

https://almostdailybrett.wordpress.com/2019/09/12/is-tv-ruining-college-football/

https://almostdailybrett.wordpress.com/2019/08/01/6-a-m-tailgate-parties/

https://almostdailybrett.wordpress.com/2019/01/02/the-conference-of-champions/

 

“Maybe Tribalism is just in her DNA.” — Lloyd Blankfein, Goldman Sachs senior chairman, on Senator Elizabeth Warren

Who gets hurt if the federal government requires Warren Buffett to sell 6 percent (approximately $5 billion) of his $86 billion in wealth each year, every year?

A.) The “Sage of Omaha?”

B.) Middle-class investors attempting to grow their portfolios for retirement, their children’s education or that special vacation?

How about … both?

If Warren’s punitive wealth tax takes effect, Buffett will be selling his shares … lots of stock … not as a result of market conditions but because Washington D.C. redistributors mandate these stock trades in the name of the greater public good.

And who decides what is “the greater public good?

Warren’s punitive 6 percent wealth tax (unconstitutional?) exercise applies to all billionaires. There would also be a 1 percent levy for all Americans with wealth exceeding $50 million each.

Wonder how many in coastal blue states (i.e., Massachusetts, Connecticut, New York, New Jersey, California, Washington … ) exceed that $50 million wealth figure? The vast majority of these households worked hard, invested wisely … and this is the thanks they receive?

How much money, which could be used for individual investment, would come out of our economy? How many shares will be forced sales in our public exchanges?

What are the unintended consequences of these arbitrary sales for those saving for retirement or their children’s education?

According to The Economist the cumulative impact of wealth taxes and many other planned hikes would constitute a cumulative 2 percent hit on our nation’s $21.4 trillion GDP.

Could a Warren Recession follow? Almost DailyBrett will take the “over.”

Selling Political Masochism In A Robust Economy

The debate that you have in America or Britain about taxing the super-rich just doesn’t exist here.” Janerik Larsson of Sweden’s Timbro

“Vilification of people as a member of a group may be good for her campaign, not the country.” — Blankfein on Warren

Almost DailyBrett has always contended that group masochism is a political loser.

Asking people to sacrifice their economic freedom, and to vote against their own personal and family best interests is a prescription for defeat.

The Economist reported this week that American retirees owned only 4 percent of all publicly traded shares in 1960.

Fast forward to 2015 and we find that retiree investments (i.e., IRAs, 401Ks, pensions) constituted 50 percent of all shares. Without doubt that figure sprinted even higher in the last four years considering the stunning continuation of the bull market.

Since November 8, 2016 (hmmm … what happened that day?), the Dow Jones has risen 52.8 percent from 18,332 to 28,015, the NASDAQ 66.6 percent from 5,193 to 8,656, and the benchmark S&P 500 47.0 percent from 2,139 to 3,145.

Should public policy compel American today’s and tomorrow’s retirees to sacrifice a significant slice of their financial future every year?

Shouldn’t we have the freedom to decide when to buy and when to sell? Does the government really understand the maxim: Buy Low Sell High?

Why should an ever-expanding  government go to war against achievers, and by doing so take direct aim at America’s Investor Class? Some see it as a socialistic assault on capitalism.

Let’s simplify the equation: Why should our government usurp our economic freedom?

Some will contend that we should all, chill out. Warren is floundering in the polls. She won’t win the Democratic nomination. Right?

Didn’t the experts say the same thing about Jimmy Carter? They were wrong, and years of economic malaise (i.e., double-digit inflation, unemployment, interest rates) and a crippling recession were the consequences.

Many in the political class point to Sweden as an socialist model for the U.S. to follow. And yet, Sweden has higher percentage of billionaires (e.g., founders of IKEA, H&M, Volvo and Spotify), and greater income disparity than the USA.

And yet Sweden abolished its inheritance tax in 2005 and its wealth tax two years later.

Hmmm … maybe we should look to Sweden for guidance.

https://www.forbes.com/billionaires/#b93a39d251c7

https://www.economist.com/leaders/2019/11/28/inequality-could-be-lower-than-you-think

https://www.economist.com/briefing/2019/11/28/in-sweden-billionaires-are-surprisingly-popular

https://www.cnbc.com/2019/11/14/lloyd-blankfein-mocks-elizabeth-warren-maybe-tribalism-is-just-in-her-dna.html

“You control the debt; you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations or individuals, slaves to debt.” – Actor Luca Giorgio Barbareschi as arms producer, Umberto Calvini, The International.

In the days of ole, one could buy a treadmill or an exercise bike and work out or employ it as a glorified laundry rack.

Now we have the recent Peloton IPO — (NASDAQ: PTON) — selling its bikes for $1,995 and treadmills for $4,000.

The key differentiator is streaming content (bike or aerobic instructor videos) for a recurring monthly charge of $39 or more. Peloton didn’t just sell a pricey bike and/or treadmill, they more importantly marketed a monthly obligation to a growing subscriber base … and that very well could include you.

The consumer bought high, and is paying even higher.

The stately The Economist reported the news and entertainment industry (i.e., Disney, Fox, ESPN, HBO …) along with major tech players (i.e., Apple, Amazon, Netflix) collectively spent $650 billion in the last five years on acquisitions and content, a sum greater than America’s oil industry.

For example the Mickey Mouse gang just unveiled Disney+ for only $6.99 per month (how long will that price last?), allowing binge watching of the Star Wars catalog to one heart’s content. The downside is another sliver of your financial independence given away for yet another monthly fee.

Sooner or later, the price of each kernel of streaming popcorn is going to add up.

They Have The Gravy, And You’re On The Train

During his Silicon Valley days, Almost DailyBrett was consumed by a litany of recurring payments (i.e., mortgage, utilities, taxes, insurance, car payments, credit card usage, mobile phones, cable, house cleaner, gym membership, pool maintenance, gardener …). In toto, all of these outstretched hands each month represented a seemingly out-of-control first-world dilemma on steroids.

Money was coming in, and going out just as quick each month. Similar to the IRS, each of the growing list of providers never forgot to remind your author of his annual/monthly obligations.

Even more than ever, our consumer-oriented economy (70 percent of the total) is predicated on enticing even more Americans to shell out an escalating amount of capital on a monthly basis, ensuring a consistent flow of money in one direction.

Hint: Someone is getting rich and it’s not the average Jane or Joe.

Some can avoid being “slaves to debt” to the bank (e.g., pay off your credit cards each month), but it’s way more difficult to avoid recurring annual (e.g., Amazon Prime or Costco memberships) and worse, monthly payments.

Let’s face it, some monthly outlays are unavoidable (e.g., utility payments). Most have mortgages or rent to pay every 30 days. Many have car payments. Even if you pay your total credit card bill religiously (which you should), it’s still a monthly obligation.

Almost DailyBrett doesn’t want to sound like a parent, but still must pose this question: How many of these recurring payments are absolutely necessary?

Shelter, food, power and water are essential to life. Most likely all or at least some of the above are financed/amortized through monthly payments.

Your author must ask, do we need a Netflix subscription on top of the cable bundle? We are already paying up the Wazzoo for up to and beyond 300 channels, the vast of majority we do not watch … and then we add on Disney+, ESPN+, Netflix and God knows what else.

And we are wondering what is happening to our money?

No Longer Driving The Top Line, How About The Bottom Line?

Follicly challenged Baby Boomers (born 1946-1964) and others of the species are retiring … and Gen Xers (hatched 1965-1979) are not far behind.

Let’s face it, for most Boomers their peak earnings days are behind them.

If you can’t grow the top line, then reducing the bottom line is a great idea. Can one seriously reduce costs and still live a comfortable happy life?

Do you still require a mortgage? Can you downsize? Can you rent instead? Can you move to a lower-cost state or community?

Is good weather (e.g., California) worth the mounting hassles, congestion, rising costs and always higher taxes?

Can you avoid car payments? How about fixing up your ride?

And most of all, can you build a stone wall preventing new monthly payments from wrecking your budget?

If you must binge watch, is there a free way to enjoy the same content without the monthly ball and chain?

Retirement experts preach avoiding second (or more) homes, subsidizing adult children and overspending.

At some point, that one more monthly expense may prove to be A Bridge Too Far.

https://www.economist.com/leaders/2019/11/14/who-will-win-the-media-wars

“Official statistics no longer countered this (Ossies) group — who were disproportionately young, clever, female and ambitious — as East Germans.” — The Economist’s “Thirty years after the Wall fell, ” November 2, 2019

“From adversity comes opportunity.” — Former Notre Dame Head Coach Lou Holtz

When the Berlin Wall came tumbling down in 1989, more than 1 million Ossies took advantage of their newfound freedom from Communism, immediately heading to West Germany and for the most part … thriving. More than one-quarter of East Germans aged 18-30 moved to the west, two-thirds of them … women.

They recognized there were two paths to go by, but in the long run, there was still time to change the road they were on … especially young, clever, ambitious females.

For those 16 million-plus souls adversely trapped for 28 years behind the borders of stultifying-oppressive-surveillance state East Germany, there finally was an opportunity to leave, begin a new life and build a lucrative career. Many took this new road to affluent Bavaria, Baden Württemberg, Hamburg … and never looked back.

Is moving to a more promising venue, the catalyst for success and building wealth?

Only one way to find out.

“I’m in Favor of Progress; It’s Change I Don’t Like” — Mark Twain

Ever meet Negative Nancy, Debbie Downer or Gloomy Gus?

Their cups are always half empty. They impress upon you what they can’t do rather then what they can do. Their little rain clouds follow them wherever they go … and in the most cases … they don’t go anywhere.

They settle for status quo mediocrity or worse. And soon it will be late … too late in their lives to make a change for the better.

They will choose neither path, and the road will soon be closed for good.

Almost DailyBrett was born in Johnstown, Pennsylvania. The former steel town is a great place to be … from.

Fortunately your author’s family was afforded the opportunity to move to Southern California. For Almost DailyBrett, Sacramento, CA, Portland, OR, Pleasanton, CA Ellensburg, WA and now Eugene, OR followed.

With each move came a change of scenery, variables, superiors, colleagues, subordinates, issues to confront and problems to solve. There were always vexing adversities and intriguing opportunities, and most of all challenges to overcome.

In their coverage of the 30th anniversary of the Fall of the Berlin Wall earlier this month, most of the newsies focused on the disparity of those who reside and succeed in former West Germany, and those who remain mired in chronic poverty in former East Germany. For many, they could have moved to seek a better life, but for one reason or another … they didn’t.

Yes, there is income disparity even in a model European nation.

The story also needs to reflect the shift away from an agrarian economy, which is largely cosigned to the Stone Age. The following industrial revolution of Johnstown, PA is kaput. The world is now consumer dominated (e.g., 70 percent of the United States economy), digitized and service oriented.

Advantage women … particularly young, clever and ambitious women.

The service oriented consumer economy is right in their sweet spot. Public relations, marketing, advertising, event planning, local government, law, real estate, health care, hospitality … heck, even hardware stores … are dominated by the fairer gender or at a minimum … heading in that direction.

Can men, who once dominated the agrarian and industrial economies with their brute strength, ignorance and testosterone, succeed in this new service economy? Yes for some, but will they en masse? The evidence is not promising.

Not only have women passed men in terms of labor force participation, the same X-curve apply to women vs. men college graduates with a bachelor’s degree or above. And in the vast majority of cases, one must or want to move away from home to go to college. Universities and colleges should be a one-way ticket to independence, not back to mom and/or dad.

Graduates react after being recognized for their degree during the University of Wisconsin-Madison spring commencement ceremony ceremony at Camp Randall Stadium in Madison, Wis., Saturday, May 16, 2015. (Amber Arnold/Wisconsin State Journal via AP)

If professional women were a publicly traded stock compared to an equity for professional men, Almost DailyBrett would not hesitate to invest in the growth potential of the fairer gender. As your author has always noted, stocks are a forward rather than a lagging indicator … women are leading, men are behind and the gap is growing.

The wind is clearly in the sails of professional women, particularly those who are brave and smart enough to recognize there’s still time to change the road they are on.

And when their ship comes in they will be ready to board and set sail.

Alas way too many men will be killing time, playing video games at the airport.

https://www.economist.com/europe/2019/10/31/germans-still-dont-agree-on-what-reunification-meant

https://almostdailybrett.wordpress.com/2019/11/08/the-night-the-wall-came-tumbling-down/

“Billionaires should not exist.” — Millionaire U.S. Senator Bernie Sanders (D-Vermont)

“Every billionaire is a policy failure.” — Rep. Alexandria Ocasio-Cortez (D-New York)

“Personal wealth is at best an unreliable signal of bad behavior or failing policies. Often the reverse is true.” — The Economist

Super talented and accomplished media superstar Oprah Winfrey is worth $3 billion.

Basketball Hall of Famer Michael Jordan’s net worth is $1.9 billion.

Hip-hop star/investor Jay-Z just made into the three-comma club at $1,000,000,000.

Did government fail when Oprah, Michael and Jay-Z all succeeded and thrived, each because of their hard work, fortitude, perseverance and incredible talent?

Did anyone of them trade on their … privilege?

Almost DailyBrett doesn’t remember Oprah engaging in insider-trading.

Do you, Secretary Reich?

Ditto for Michael Jordan profiting from a monopoly unless Mr. Reich is pointing to Michael’s near-monopoly of talent against the competition he faced night-after-night in the NBA?

Is Jay-Z guilty of fraud, a political payoff or did he inherit his wealth?

Wonder if any of these “basically 5 ways” to accumulate a billion dollars in America apply to Nike founder/Philanthropist Phil Knight?

Have you read “Shoe Dog,” Professor Reich? Nike almost went under about nine times.

The former Labor Secretary’s “5 ways” Twitter screed is intellectually dishonest, and remarkably easy to discredit.

Alas, it is beneath the respect normally afforded to Robert Reich. Next time go high Mr. Reich instead of racing to the bottom. Talented and hard working people can earn their wealth on their own without resorting to nefarious deeds.

From a policy standpoint, we need to ask:

Should we punish Oprah, Michael, Jay-Z, Uncle Phil and so many others who worked their tushes off to legitimately make their fortunes with a punitive Elizabeth Warren 6 percent wealth tax (up from the original 3 percent proposal), and income tax rates reaching 90 percent or beyond?

Whattyathink Senators Sanders and Warren?

Class warfare — born out of jealousy — is not new.

The effective tax rate for achievers in the United Kingdom in the 1970s once reached 98 percent. If you don’t believe Almost DailyBrett, ask The Beatles … ask The Rolling Stones, who fled to France and recorded “Exile On Main Street.”

Can a near 100 percent confiscatory tax rate, which was thankfully eliminated in the UK by former Prime Minister Margaret Thatcher, happen in the United States of America? Let’s hope not.

Celebrate Instead of Hate?

Almost DailyBrett remembers boys and girls practicing basketball, so they could be “Just Like Mike.”

Your author can imagine girls admiring and wanting to be the next Oprah.

You should check Ellen’s interview with Bill Gates. They discussed the works and deeds of the Bill and Melinda Gates Foundation, donating a cumulative $50.1 billion to fight global childhood poverty and to improve public schools in our country.

According to Forbes, Gates is worth approximately $96.5 billion — give or take a shekel or two — making him the second wealthiest homo sapien on the planet. Virtually everyone in the first world is using Microsoft’s Windows Operating System, inspired and written by Gates. And his charitable foundation has contributed more than any other non-profit ever to make our world a better place (more than most governments).

His former company Microsoft is valued at $1.14 trillion, generates $96.5 billion in annual revenues, and employs 144,000 in well paying positions with full benefits and stock options. Taken together, the performance of Microsoft as a company and the generosity of the Gates Foundation, puts Bill’s wealth into perspective.

Can we have more “policy failures” just like Bill Gates, Phil Knight, Oprah Winfrey, Michael Jordan, Jay-Z and so many more?

Instead of hating people who are wealthy, let’s celebrate and cheer for the achievers (e.g., Michael Jordan).

If we are concerned about billionaires, our policies should focus on stimulating competition (i.e., über-tough content streaming, video game, smart phone markets…), not limitless redistribution or punitive taxation.

If our political intent is to further divide, demonizing billionaires (as others have been publicly denigrated for ages) is a good way to engender one of the seven Deadly Sins: Envy.

If our goal is growth and prosperity, then let’s encourage Millennials and the generations, who will follow, to shoot for the stars. Let them become tomorrow’s Oprah, Michael, Jay-Z, Bill Gates and Uncle Phil.

And if they succeed financially, let’s celebrate them and at the same time root for competitors to keep them on their toes.

https://www.economist.com/leaders/2019/11/09/billionaires-are-only-rarely-policy-failures

https://www.economist.com/finance-and-economics/2019/11/07/have-billionaires-accumulated-their-wealth-illegitimately

https://www.gatesfoundation.org/who-we-are/general-information/foundation-factsheet

https://almostdailybrett.wordpress.com/2019/02/06/the-lonely-guy-standing-in-line-for-a-burger/

https://almostdailybrett.wordpress.com/2012/09/25/taxing-uncle-phil-to-death/

https://almostdailybrett.wordpress.com/2015/08/23/three-comma-club/

https://almostdailybrett.wordpress.com/2011/10/04/taxing-the-fab-four-exiling-the-stones/

“The problem with socialism is that you eventually run out of other people’s money.” — UK Prime Minister Margaret Thatcher (1925-2013)

If a private sector position with full benefits isn’t the greatest anti-poverty program ever devised … what on earth is?

In order to avoid saying she will raise taxes on the middle class for “Medicare For All,” Senator Elizabeth Warren (D-Massachusetts) is proposing federal confiscation of all pretax employer paid Medicare health care benefits for literally millions of working achievers.

Her plan will eliminate private health insurance for 150 million Americans or more, and nationalize the $530 billion private health insurance industry.

Isn’t the termination of $8.8 trillion in cherished pretax employer-paid health care benefits for millions of employees, the equivalent of a middle class tax increase on steroids? Keep in mind, the annual federal budget is only … $4.45 trillion.

Instead of Starbucks paying $20,000 for this benefit to each of its 291,000 employees for private insurance (e.g., Blue Cross, Kaiser …), the legendary coffee roaster would be compelled to turn-over a similar amount to the federal government. In turn, these employees would lose their Starbucks offered pretax Medicare benefits and choice of private health insurer, only to forced into government paid … and only government paid … DMV-style insurance.

The Bernie Sanders “Medicare for All” bill (which Warren supports) calls for a 4 percent federal income tax increase for middle class workers. In order to avoid saying she is raising middle class taxes, Warren proposes instead federal confiscation of pretax employer paid health care benefits.

“In practice this (redirection of employer-paid health benefits to the government) would be a tax on employment, which seems likely to hurt middle-class Americans.” — The Economist, November 9, 2019

Deciding which plan (Sanders or Warren) is worse is just as difficult as deducing which is better.

How about keeping and retaining private health insurance, and our ability to choose our own doctors, dentists and optometrists?

Almost DailyBrett has always exhibited a libertarian streak. If we empower our $4 trillion behemoth federal government to confiscate pretax employer-paid health insurance, and eliminate private health insurance for 150-million-plus souls, the obvious question is:

What’s next?

Tax On Billionaires

” … if she gets elected president, then I would bet that we will have a legal challenge, and I would bet that we will win the legal challenge. And does that still suck for us?” — Facebook founder Mark Zuckerberg commenting on the spectre of a Warren presidency to the company’s 35,000 employees.

The public relations spin by Bernie and Elizabeth has focused squarely on the likes of Zuckerberg, Bill Gates, Jamie Dimon and Leon Cooperman, including Warren mocking the latter for his tearful concern about the future of our country.

Consider the Bill and Melinda Gates Foundation has given $36 billion to fight third-world poverty. Does no good deed go unpunished?

The centerpiece of the billionaire vilification campaign is a 2 percent wealth tax on those with assets exceeding $50 million (how many folks in blue states California, New York, Connecticut, Massachusetts … are included in this tax?), and 6 percent for those with $1 billion or more. We are not just talking about giving “two cents” (on each dollar) more.

How would the federal government determine the amount of wealth to be taxed and confiscated? When would it be paid? How much stock will needed (needlessly?) be sold (maybe even at loss) and how much will be immediately bought back? What’s the algorithmic multi-billion dollar impact on the 52 percent of the country investing in stocks and stock-based mutual funds for their retirement or children’s education?

Is this tax, constitutional? Are we talking about double taxation? More to the point, do we want as a nation to empower … there’s that verb again … our massive government to punitively confiscate wealth and with it, achievement? How about a tax on lower upper class wealth? Ditto for a levy on upper middle class wealth? And how about … ? The possibilities are limitless.

Three European nations still impose wealth taxes: Norway, Spain and Switzerland. How’s Spain doing?

Eleven European nations have rescinded their wealth taxes: Austria, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, Netherlands and Sweden.

That’s right, wealth taxes didn’t work in Denmark and Sweden, why should it fly in Iowa, Michigan, Ohio, Pennsylvania and Wisconsin?

According to the stately The Economist, Warren’s all-government all-the-time programs include requiring Amazon, Facebook and Google to be regulated as platform utilities (before or after their breakups?), 40 percent of all board seats held by “public reps” (read, unions), bans on nuclear power and fracking, 75 percent lobbying taxes, 37 percent taxes on capital gains, and the imposition of taxes on unsold stocks (employing Enron-style mark-to-market accounting or MTM) … and the list goes on and on and on.

Warren supporters caution America’s Investor Class (52 percent of the entire nation) not to worry; her plan will eventually be watered down or not approved. If so … what’s the point?

Are Warrenites and Sandernistas supporting Republican control of at least one house to serve as a check and a balance to radicalism? Didn’t think so.

Some see Warren as a Socialist champion against Capitalism or buy low sell high.

Instead, Almost DailyBrett sees Bernie and Elizabeth as two peas in the same pod.

They are threatening our economic freedom. They will dip into our wallets, and deny us benefits and physician choices we already enjoy. The only winner? Big government.

Instead of wisely controlling the size and scope of government, some will be cool with a greatly empowered … there’s that verb again … carnivorous federal bureaucracy with even more power over our individual abilities to chart our own financial futures.

Be afraid … be very, very afraid.

https://www.nationalreview.com/2019/03/elizabeth-warren-wealth-tax-european-nations/

https://slate.com/business/2019/11/elizabeth-warrens-health-care-medicare-for-all-single-payer-unfair.html

https://www.economist.com/briefing/2019/10/24/elizabeth-warrens-many-plans-would-reshape-american-capitalism

https://www.economist.com/united-states/2019/11/07/how-would-elizabeth-warren-pay-for-her-health-policy

https://slate.com/technology/2019/10/mark-zuckerberg-said-elizabeth-warrens-presidency-would-suck-for-us.html

https://almostdailybrett.wordpress.com/2019/09/15/how-blue-cross-saved-my-bacon/

Hell knows no fury like a Hillary scorned.

Bitter Hillary was rejected by her own party in 2008, and eight years later she lost to (gasp) … Donald Trump.

And to top it off, her husband was less than semper pi. His name is … Bill.

What’s a Hillary to do? How about getting into a public spat with Tulsi?

Tulsi Who? “Favorite of the Russians”?

Are we talking about Rep. Tulsi Gabbard (D-Hawaii) an after thought in the Democratic presidential nominating contest … until now? Her RealClear Politics average stands at 2.0 percent. That’s it.

Almost DailyBrett must pause here to ask:

Why is Hillary providing Tulsi (“holy basil” in Hindu) with manna from publicity heaven, an amazing public relations gift of a nationally covered food fight with a notorious and reviled party stalwart?

Considering that Hillary has a long-track record as the nation’s first lady, a U.S. Senator from New York, the nation’s secretary of state and the first woman presidential nominee in the country’s history, why isn’t she using her record to project herself as a senior stateswoman? She could be a modern-day Richard Nixon.

With all due respect, Tulsi should not be on Hillary’s personal radar. Baring a political miracle, Tulsi is not going to win the party’s nomination for president.

Somehow, someway Tulsi got under Hillary’s thin skin and triggered an inappropriate response. Why is Hillary providing Tulsi with a new platform? When you are seen as an enemy of Hillary that designation instantly attracts attention and new friends.

Worse yet Hillary believes the Russians are behind Tulsi’s campaign, maybe even as a third-party stalking horse. Another vodka, Madam Secretary?

It’s obvious that Hillary isn’t going away … quietly. Is this screed, Hillary’s definition of ethos? 

Tulsi’s 15 Minutes of Fame, And Then Some?

Almost DailyBrett counsels employing social media strategically, but not the above tweet, which goes far … way too far.

“Great! Thank you @Hillary Clinton” was probably all that was needed. Tulsi’s joyful and grateful response is more than appropriate.

As Michelle Obama once famously said: “When they go low, we go high.” There’s no reason for Tulsi to race Hillary to the bottom, just bask off the glow of windfall media attention, and fully exploit a fantabulous public relations opportunity.

Your author suspects there is more that inexplicably prompted Madam Secretary without any forewarning to go after a mere member of Congress of her own party.

Telegenic and fearless, the 38-years-young Tulsi is a fourth-term member of Congress (e.g., Hawaii’s 2nd District) and the nation’s first Samoan-American representative. She is an accomplished major in the Hawaii National Guard having served two tours in the Middle East: Iraq in 2004-2005 and Kuwait in 2008-2009.

As such she projects reasonable gravitas, her views on foreign policy should be respected.

Tulsi exhibits a strong anti-interventionist streak. opposing “regime-change wars” and wanting the U.S. out of Syria and Afghanistan. She is a moderate, putting her at political and maybe personal odds with Hillary.

Why Hillary chose to elevate Tulsi at this time, when the nomination is crystalizing around bumbling former Vice President Joe Biden and confiscatory Senator Elizabeth Warren, is inexplicably beyond the pay grade of Almost DailyBrett. 

Guess it must be time: Tulsi Time.

https://www.usatoday.com/story/news/politics/elections/2019/10/24/what-feud-between-tulsi-gabbard-and-hillary-clinton-about/4082268002/

https://www.businessinsider.com/who-is-tulsi-gabbard-bio-age-family-key-positions-2019-4

https://www.foxnews.com/opinion/tucker-carlson-hillary-clinton-tulsi-gabbard

https://www.webmd.com/vitamins/ai/ingredientmono-1101/holy-basil

https://www.realclearpolitics.com/epolls/2020/president/us/2020_democratic_presidential_nomination-6730.html

https://almostdailybrett.wordpress.com/2018/11/13/the-new-nixon-and-the-newest-hillary/

https://almostdailybrett.wordpress.com/2017/09/12/what-happened/

Welcome to America’s cul-de-sac: The Pacific Northwest.

There is no state in the nation’s contiguous states, which is located further away from a steady supply of stud football players, let alone media markets, than Oregon.

For the Oregon Ducks, geography could be an easy excuse. Instead, it is a challenge that must and is being surmounted.

Oregon has chosen to compete in terms of marketing, facilities, swagger and success.

Autzen Stadium is rocking on Saturdays, and yet there are some who cannot pronounce the name of the state correctly particularly those east of the Hudson and in bucolic Bristol, Connecticut. … It’s Or-ee-gun.

As a 30-year season ticket holder, Almost DailyBrett was rooting for the Ducks before it was cool.

Your author earned his bachelor’s degree in broadcasting journalism from USC and his master’s degree in communication from the University of Oregon. There is no game that tugs at the heart strings more than when the Ducks and Trojans come together as will be the case this Saturday at the LA Mausoleum.

The illustration of the GPS disparity (e.g., 858 miles) between Los Angeles, California and Eugene, Oregon cannot be minimized. Oregon is the home to 4.19 million souls. The Los Angeles area has 18.79 commuters.

Geography matters.

USC easily has greater access to more stud athletes within a 40-mile radius of its urban campus than Oregon has in a 400-mile radius of its college town setting. Historically, USC recruits and signs more decorated big men on high school campuses than Oregon.

What? Oregon is a 4.5 point favorite over USC in Los Angeles.

How can that be even remotely possible?

Oregon Chose To Compete

Can’t tell you how many times Oregon was confused in the 1990s with … the Beavers.

You can’t tell the difference between “The Jetsons” and “The Flintstones”?

The working pejorative by the lazy sports media was to simply lump the Ducks and Beavers together as … “The Oregon schools.”

Attempting to stay in the game with USC, UCLA, Stanford and Washington for a quarter or two was an accomplishment. If that was indeed the case, the next obvious question was … why bother?

Athletes in Oregon could not practice their game 24,7, 365 because of the state’s wet climate. The team would never prevail. Oregon would never win the conference crown. The Ducks would never go to the Rose Bowl. They would never play for the “Natty.” A Duck would never win the Heisman Trophy.

Whatever happened to all these modern-day Nostradamus,’ who uttered these ex-cathedra proclamations?

Since Almost DailyBrett first purchased his Oregon season tickets and made his initial donation to The Duck Athletic Fund in 1990, the Ducks have won six conference titles. They have played in Pasadena on New Year’s Day four times, winning two. They have competed in the “Natty” twice. And Oregon deity, Marcus Mariota, won the Heisman.

With each accomplishment, Oregon blew away each recruiting disincentive: Can’t work on your game, never will win, never play in a major bowl, never compete for the national championship, will never be in the conversation for the Heisman … let alone win the trophy.

Oregon Reign

It reigns in Oregon. It reigns big time.

Oregon is the ultimate overachiever, not just in football but men’s and women’s basketball and track and field as well.

What are the components of Oregon’s accomplishments?

Marketing: Oregon is forward-looking. Buy the stock. The school doesn’t concentrate on past tradition, but pivots off immediate success to project forward.  Oregon has identified its target audience (high school sophomore and junior studs) with fun football, cool uniforms, playing in ultra-loud Autzen Stadium on national television. The Ducks are cool, and everyone knows it (including those in Seattle and Corvallis). Maybe their images and likenesses of future Ducks will draw the attention of … Nike?

Facilities:  If you build it, will they come? Almost DailyBrett remembers the alumni tent in the gravel parking lot. That mental image was light years ago. Conservatively, Oregon has invested $15 million for the Moshofsky Center (indoor practice facility), $41 million for the John Jacqua (athletic academic support center), $68 million for the Hatfield-Dowlin Complex (football operations center) and $68 million for the expansion of Autzen Stadium.

Kudos for a huge assist from Oregon’s resident alum swoosh billionaire, Phil Knight.

Swagger: The Golden Era of Oregon football has returned. Former lineman Mario Cristobal has brought Alabama smash-mouth football with speed to the perceived soft Pac-12 conference. Cristobal’s energy is infectious. Every potential recruit coming to Eugene, leaves with photos of himself in Oregon football pads with the Nike logo prominently featured. Once again, Oregon is the hunted, not the hunter.

Success: As John Madden once said: “When you win, nobody can hurt you. When you lose, nobody can help you.” After the school’s best-ever results (46-7) during Chip Kelly’s tenure from 2009 – 2012, and recorded three straight conference titles, four BCS bowl games, Oregon fell back into the Pac. Coaching matters.

Oregon comes to the LA Coliseum this Saturday with the wind in its collective sails (5-0 in the Pac-12). The Ducks respect USC, but don’t fear the Trojans. As evidenced by the Washington and Wazzu games, the contest is expected to be close, real close.

One way or the other, Oregon will be competing for conference title on December 6.

Will our fine-feathered friends have a Rosey future? Expect the Ducks to compete like hell for Pasadena, because they can.

https://almostdailybrett.wordpress.com/2019/01/02/the-conference-of-champions/

https://almostdailybrett.wordpress.com/2012/08/16/rooting-for-oregon-before-it-was-cool/

 

“When are we going to realize in this country that our wealth is work. We are workers. And by selling this idea, ‘Hey man, I’ll teach you how to be rich.’ How is that different than an infomerical?” — Jon Stewart to CNBC’s Mad Money host and former Goldman Sachs hedge fund manager, Jim Cramer

No truer words were ever spoken.

During the course of his 2009  infamous viral dressing down of CNBC’s “Mad Money” Jim Cramer, Comedy Central’s Jon Stewart took direct aim at the notion of get-rich-quick, particularly in times of an economic meltdown.

Some acquaintances of Almost DailyBrett have inquired and even critiqued your author’s daily devotion to CNBC, the repeated clicks on Charles Schwab’s retirement IRA platform, and the checking of the value of the Eugene, Oregon residence on far-less-than-perfect, Zillow.

Yours truly is a dedicated capitalist, devoted to maintaining and growing wealth under the banner of Buy Low Sell High.

Buying low and selling high generates … profits. Yes, profits. Sorry Bernie and Elizabeth.

Some vehemently argue that nothing-is-guaranteed Wall Street is more or less, gambling.

Almost DailyBrett disagrees with this conclusion, but clearly recognizes that gamblers are energized and engaged. No one plays poker and puts their chips on the roulette table and cavalierly accepts the verdict. They play to win the game.

As Herm Edwards said: “You play to win the game. Hello? You play to win the game.”

And more times than naught, gamblers lose. The staggering accumulated wealth and gaudy palaces along the Las Vegas Strip are monuments to the … losers.

Don’t investors want to win too? There are no guarantees on Wall Street. Invested money is placed at risk. Doesn’t that make Wall Street the greatest casino of them all?

Achieving the spread between buying at a lower price and eventually selling at a higher price is more … much more … than simply investing in a 401k or IRA and forgetting about it. ‘Ahh … just let the pension fund chiefs or the mutual fund managers worry about it.’ Don’t worry.

Ladies and gentlemen, we are talking about your nest egg. Growing, caring and nurturing your tomorrow is a business. In effect, it is the ultimate business.

You want to ensure that you live a long and happy life, and that you expire before your money runs out.

The Wall Street crash of 2007-2010 is still fresh for most of us. Ten years later, we are enjoying the fruits of the longest bull market in American history with a record low, full-employment Department of Labor unemployment rate of 3.5 percent.

Time to put up our feet? Hell, no.

Manage Rather Than Be Managed

“Stewart had no special Wall Street knowledge, as he was the first to admit. What he had was a nose for a scam, and an uncanny ability to articulate what the rest of us were feeling.” — New York Times columnist, Joe Nocera

Recognizing that Jon Stewart is a comedian, not a stock market analyst or technician, he is nonetheless still right: “Our wealth is work.”

Part of the task before us is to understand completely a very simple question: How does a company makes money?

Please allow Almost DailyBrett to speak ex-cathedra: If you do not understand how a publicly traded company makes mula (e.g., McDonald’s makes hamburgers and feeds 1 percent of the planet each day), then you are gambling on a stock, not investing.

Remember posing this question to my classes about Bitcoin.

Some students volunteered that Bitcoin is a crypto-currency … whatever that means. “It’s been going up” (and down). Currencies are associated with countries (i.e., greenback, USA; Euro, EU; Pound Sterling, UK). What country backs Bitcoin?

Nada.

Therefore in your author’s portfolio, there is no place for Bitcoin or any other Ponzi Scheme.

Stewart publicly undressed Cramer because the former believed the latter’s network (e.g., CNBC) was not doing enough to protect retail investors, particularly those who were experiencing the daily assault on their portfolios between 2007-2010.

Most of us wish to forget that time, and yet we took the steps to manage our accounts and protect our nest eggs. We chose to manage instead of being managed.

Maintaining and building wealth requires us all to work, to stay alert, and have a healthy batting average when it comes to making our financial decisions.

Stay alert. Stay engaged. Stay the course.

http://www.cc.com/video-clips/iinzrx/the-daily-show-with-jon-stewart-jim-cramer-pt–2

http://money.com/money/3982267/jon-stewart-5-best-money-moments/

https://almostdailybrett.wordpress.com/2019/09/15/how-blue-cross-saved-my-bacon/

%d bloggers like this: