Expanding the Legacy
Tag: US
25 Posts
Common Sense Rules Supreme at Berkshire Hathaway
Admittedly, public speaking did not come easy to Mr Buffett – aka the Oracle of Omaha. He repeatedly confessed to ‘great trepidation’ when it came to addressing gatherings during his time at college. Taking a Dale Carnegie course changed that for the better. In fact, Mr Buffett’s diploma from the author of How to Win Friends and Influence People is the only plaque displayed at the Omaha office from where he rules the Berkshire Hathaway business empire.
Seesawing Stock Markets Rattle Investors
And just like that… the party was over. Wednesday’s stock market rally, sparked by the dovish comments of US Federal Reserve Chairperson Jay Powell, not only fizzled out but reversed with Nasdaq suffering its biggest drop since June 2020.
US Federal Reserve Moves with Cautious Resolve
Markets may have disliked what Jay Powell had to say before; however, what he does now proves a bullseye hit – pardon the pun. The US Federal Reserve surprised no one when, at the end of a two-day policy meeting, its Open Market Committee yesterday unveiled a 0.5 percentage point rise in the federal fund rate. It was the first such robust hike in 22 years and the first back-to-back rate rise increase 2006. Usually, the central bank moves in 25 basis point increments.
Searching in Vain for a Dollar Alternative
The seizure of Russia’s dollar reserves, part of the first wave of sanctions decreed in response to Moscow’s ‘special military operation’ in Ukraine, has a growing legion of pundits wondering if the time has come to look for a new global reserve currency. Some of the more outrageous suggestions suggest a fresh look at China’s renminbi and a renewed appreciation of bitcoin.
Exposing the Wage-Price Spiral Myth
Inflation equates thievery. It erodes the purchasing power of salaries and steals from creditors. Worse, most economists now issue dire warnings about the evils of a ‘wage-price spiral’ which is said to fuel inflation because workers demand compensation for the increased cost of living – essentially seeking to preserve the spending power of their income.
Misguided Republican Anger
She called it a ‘beautiful sight to behold’ when student protesters stormed the building that houses the Hong Kong Legislative Council. Now Speaker of the House of Representatives Nancy Pelosi is at a loss to explain why the spectacle of a mob assaulting the Capitol did not meet her approval....
Chancellor Olaf Scholz Courted
In a diplomatic tour de force, the US government managed to impress on its partners and allies in NATO and the European Union the clear and present danger of a Russian spring offensive against Ukraine. All duly expressed grave concern regarding the recent deployment of Russian troops and hardware in...
Investor Confidence Soars
FOMO is firmly in charge of the US stock market: the Fear of Missing Out has nearly all classes of investors – from retail to institutional – pouring vast volumes of cash into stocks. Excitement reaches new heights during the current earnings season with S&P 500 companies reporting an average...
Making Republicans See Red
It takes the gumption of a hero to identify as a socialist in the United States, and something of a miracle to get elected to public office under a red banner. But that is what 29-year-old Alexandria Ocasio-Cortez did when she pulled off a massive upset in the 2018 midterm elections, beating incumbent Joe Crawley in the primaries and thus ejecting the chair of the Democratic Caucus from the House of Representatives.
The Sage of US Foreign Policy Has More to Say
To the minders of the literary establishment, he peddles ‘boneheaded nonsense’ (David Rieff in The New Republic) or takes ‘intellectual shortcuts’ (David Lipsky in the New York Times Review of Books), yet Robert D Kaplan remains one of the most-widely read commentators of present times. His often polarising work – dismissed as ‘cheap pessimism’ by most in academia – has been mandatory reading for US foreign policy mandarins of Republican and Democrat administrations alike. Mr Kaplan (66) attained sage-like status for predicting and documenting the rise of religious fundamentalism in Central Asia and for warning about its capacity to redefine warfare, long before the clash of civilisations became a global concern somewhere in 1996.
