We released our May American Consequences magazine over the weekend.
I believe it’s one of our best yet.
Because while everything seems rosy on both Wall Street and Main Street – at least if you only pay attention to the official statistics – we see danger around us. And this magazine explores how… and why… this danger might come to pass. And what you can do about it.
If you haven’t yet read our issue, please do so.
We also have essays that could make you money. Or more likely, save you from losing a fortune…
Read analyst Bryan Beach about the recent phenomena of overvalued IPOs, legendary short-seller Whitney Tilson on one of the most divisive companies in the nation, and value investor Dan Ferris warns of a coming storm.
And of course, you can’t miss editor in chief P.J. O’Rourke’s letter from the editor – on the real end of the world scenario we’re experiencing right now in civil liberties, free speech, property rights, the rule of law, and free trade.
We hope that you enjoy it.
Now here’s some of the other news we’re reading…
The latest from Venezuela is horrible.
Zimbabwe’s collapse under Robert Mugabe. The fall of the Soviet Union. Cuba’s disastrous unraveling in the 1990s. The crumbling of Venezuela’s economy has now outpaced them all.And this should be no surprise…
Many people today don’t prioritize prosperity and for various reasons prefer high federal spending, taxing and borrowing relative to national income; if so, my analysis says that they shouldn’t be so surprised when their preference causes less-robust rates of economic growth.
One of the best IPOs of the year… or a bust in the making?
It’s fascinating to see what the insiders thought the stock was worth just a short while ago. Last November, while agreeing on executive compensation, the board estimated “fair value” for the stock at no more than $17 a share. Exactly a year ago they put it at a mere $3. Today, apparently, it’s worth almost $93? Fast work.
How many tens or hundreds of millions did Wall Street banks make as Uber plunged through “naked shorting”?
Although seen as a means to reduce volatility for a brand-new security, stabilizing efforts could also be seen as a legal means of price manipulation that lends itself to ambiguity over how involved underwriters be in propping a stock up.
We aren’t surprised that so many feel “at risk.” The next downturn is on its way.
They may be doing well at the moment, but they fear that, however high they are on the economic ladder, a single bad step or bad event could cause them to slip. A booming economy hasn’t quieted these concerns…
And finally, we enjoyed learning a bit of Wall Street lore today…
This bizarre image may have been inspired by a macabre book of cartoons published earlier in 1981 by the British illustrator Simon Bond, “101 Uses for a Dead Cat”…
The darkly humorous collection was a surprise best-seller at a time when more innocuous feline fare was all the rage, such as in the comic strips “Garfield” and “Heathcliff.”
And let us know what you’re reading at [email protected].
Publisher, American Consequences
With P.J. O’Rourke and the Editorial Staff
May 22, 2019