“Many people have been talking about job creation lately, especially politicians. But is government the best creator of jobs? And is job creation the best thing for the economy? Professor Steve Horwitz explains that there is a difference between creating jobs and creating wealth. Creating jobs is relatively easy, but the most economic progress is made when jobs are eliminated because they become unnecessary. This does lead to some unemployment, but the alternatives are worse. To prevent transitional unemployment would also halt innovation, growth, and the reduction of poverty. So what is the best way to create valuable, meaningful jobs? Professor Horwitz says, “The best job-creation program in human history is the free market and the entrepreneurship it generates.”
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Cory’s Chart Corner
Many will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
The Kobeissi Letter @KobeissiLetterBREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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Danielle’s Book
Media Reviews
“An explosive critique about the investment industry: provocative and well worth reading.”
Financial Post“Juggling Dynamite, #1 pick for best new books about money and markets.”
Money Sense“Park manages to not only explain finances well for the average person, she also manages to entertain and educate while cutting through the clutter of information she knows every investor faces.”
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