Here’s what leadership looks like — barely a minute. Tom thinks it’s remarkably good leadership. Carl remains fully on board. But with regard to the pandemic, Peter now rates Trump “2” on a scale of 1 (“horrendous”) to 10 (“fantastic”). We’re making progress.
How can so much of the country have come under Trump’s spell? Watch After The Truth: Disinformation and the Cost of Fake News on HBO. You’ll find yourself recommending it to everyone you know.
Here’s what insider trading looks like — the Richard Burr story.
Could we please restore the deep state? It’s nothing more sinister than deep competence, deep experience, deep dedication. The kinds of public servants who used to staff the office of Medical and Biodefense Preparedness. And the State Department. And the EPA. And the FBI. Don’t you wish they were still there?
And could we please embrace a 20-year vision that tips the balance modestly from private consumption, like larger homes, to public consumption, like revitalized infrastructure? Imagine spending 5% less of our GDP on the former each year and 5% more on the latter, gradually making up for decades of under-investment. Over long periods, modest shifts become transformative.
(If you missed it, here again how the Federal Government and our national infrastructure were undermined from the right.)
Airlines used to go bankrupt on a regular basis. The shareholders lost everything but the planes kept flying just fine. The creditors and bondholders became the new owners. With limited resources, we shouldn’t be bailing out shareholders; we should be helping those who’ve lost their jobs pay for food, rent, and utilities until things return to normal.
Tons to be concerned about on this first day of Spring.
Have a great weekend.
Quote of the Day
Your average Wall Streeter, faced with nothing profitable to do, does nothing for only a brief time. Then, suddenly and hysterically, he does something which turns out to be extremely unprofitable. He is not a lazy man.~Fred Schwed, Where Are the Customers' Yachts?
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