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Most people don’t use mail the way they used to – if they send out mail at all. And, most of all, businesses still depend on the mail to help them reach customers and keep the economy going. A history older than AmericaThe postal service and the United States have grown side by side since before the country’s birth – quite literally. The band The Postal Service was an indie-pop darling near the turn of the century. While stamp prices have doubled in that time, most experts point the finger at technology instead.
Persons: , Michael Plunkett, Benjamin Franklin, Alexis de Tocqueville, “ Alexander M, , Santa Claus, Cliff, Newman, , David Brin, Kevin Costner, ” Plunkett, Kevin Kosar, that’s, Plunkett, Sackler, ” ‘, doesn’t, Louis DeJoy, Kyle Grillot, Michael Kubayanda, Mark Dimondstein, ” Kubayanda Organizations: New, New York CNN, US Postal Service, Association for Postal Commerce, Boston Post, United States, Smithsonian Magazine, Getty, New York City, Postal Service, Post, ” Workers, Service, American Enterprise Institute, , , Coalition, Century Postal Service, USPS, American Postal Workers Union Locations: New York, United States, Boston, United, Britain, France, Siren , Wisconsin, City, Los Angeles, AFP
I asked her excitedly in French, “What do you think about the abortion rights thing?”“C’est fou, hein?” she said. She continued, “Trump, he wants to reverse abortion rights. Unbelievable.”“Oh!” I said, “I meant about how France is writing abortion rights into the Constitution.”“Oh that?” she said, less excitedly. On the other hand, French women were allowed to open their own checking accounts in 1965 — horrific until you realize that their American counterparts were not granted that right until 1974. But compared to today’s America, France looks like the version of a feminist utopia that could only be dreamed of by Greta Gerwig’s Barbie universe.
Persons: Roe, Wade, Laurence Rossignol, Le Monde, Rossignol, fou, hein, , “ Trump, , Alexis De Tocqueville, America “, Barack Obama, George Floyd, Derek Chauvin, , Congrès, I’ve, ” Claude Malhuret, she’d, Gabriel Attal, Greta Gerwig’s Organizations: CNN, CNN — America, US, Democracy, Communist, Minnesota, American, Equality, Fraternity Locations: Paris, America, France, French, Spain, Communist China, Versailles
Opinion: In Navalny’s death, echoes of Stalin
  + stars: | 2024-02-16 | by ( Peter Bergen | ) edition.cnn.com   time to read: +5 min
CNN —We don’t yet know the exact details of jailed Kremlin critic Alexey Navalny’s death, reported Friday by the Russian prison service — and we may never find the precise truth. When the Wall fell, Putin was a KGB officer in Dresden in what was then East Germany. And the most dangerous thing a Russian leader can do is lose a war as the Romanovs did in World War I, which helped spark the Russian revolution in 1917. By contrast with Gorbachev, Stalin ruled with an iron fist and was critical to the Allies winning World War II. How will news of Navalny’s death be received in Russia?
Persons: Peter Bergen, , Alexey Navalny’s, Kamala Harris, Vladimir Putin, Wagner, Yevgeny Prigozhin, Putin, Navalny, Andrei Sakharov, Aleksandr Solzhenitsyn, Mikhail Gorbachev, ” Gorbachev, quagmire, Alexis de Tocqueville, Gorbachev’s, Gorbachev, Stalin, Tucker Carlson’s, Boris Nadezhdin Organizations: New, Arizona State University, Apple, Spotify, Trump Administration, CNN, Munich Security, Human Rights, Soviet Union, Soviet, Kremlin, Great, Literature Locations: New America, Russia, Moscow, Ukraine, Soviet, Eastern Europe, Dresden, East Germany, Afghanistan, Russian
Opinion | How Do We Manage China’s Decline?
  + stars: | 2023-08-29 | by ( Bret Stephens | ) www.nytimes.com   time to read: +3 min
Optimists think the crisis won’t affect Western countries too badly because their exports to China account for a small share of their output. Real estate and its related sectors account for nearly 30 percent of China’s gross domestic product, according to a 2020 paper by the economists Ken Rogoff and Yuanchen Yang. Last month Donald Trump described the rule of China’s president, Xi Jinping, as “smart, brilliant, everything perfect.” The truth is closer to the opposite. China’s richest people have also left the country in increasing numbers during Xi’s tenure — a good indication of where they think their opportunities do and do not lie. President Biden was off the cuff but on the mark this month when he said of China’s leaders that “when bad folks have problems, they do bad things.” In other words, as China’s economic fortunes sink, the risks to Taiwan grow.
Persons: don’t, Optimists, Ken Rogoff, Yuanchen Yang, Donald Trump, Xi Jinping, Xi, , , Xi’s, Biden Locations: China, Taiwan, South China, United States, Ukraine, Russia, Beijing, Taiwan Strait
Opinion | Can Liberalism Save Itself?
  + stars: | 2023-08-26 | by ( Samuel Moyn | ) www.nytimes.com   time to read: +3 min
Yet just a few years later, Cold War liberalism emerged as a rejection of the optimism that flourished before the mid-20th century’s crises. This was a liberalism of fear, as another Cold War liberal intellectual, the Harvard professor Judith Shklar, said. In a way, fear was understandable: Liberalism had enemies. The Cold War changed all that. “We must be aware of the dangers which lie in our most generous wishes,” the Columbia professor and Cold War liberal Lionel Trilling explained.
Persons: Isaiah Berlin, Judith Shklar, Robert Oppenheimer, ” Frustratingly, Alexis de Tocqueville, John Stuart Mill, Bernie Sanders, Lionel Trilling Organizations: Communist, Oxford, Communists Locations: China, Eastern Europe, overreact, America, Soviet Union, French, Columbia
AI, cyclical industries and regional banks: 3 Things to watch
  + stars: | 2023-07-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree to watch in the US earning season, according to portfolio managerJohn Petrides of Tocqueville Asset Management talks about the three themes that he thinks will drive the current US earning season.
Persons: John Petrides Organizations: Tocqueville Asset Management Locations: Tocqueville
The TV drama “Breaking Bad” does an exceptional job of capturing America’s other exceptionalisms. So Walter turns to yet another American institution that stands out among the nation’s peers: a vast and violent drug trade. Walter worries about his family’s future — especially that of his son, Walt Jr., who has cerebral palsy. But Walter Jr. is talented: In an episode that aired one year before the crowdfunding site GoFundMe was founded, Walt Jr. designs a website to solicit donations to help pay for his dad’s cancer treatment. 1 cause of bankruptcy in the United States.
Persons: topick, Alexis de Tocqueville, Barack Obama, , Ronald Reagan, Walter White, Walter, , Walt Jr, Walter Jr, Walt, Jr, , don’t Organizations: Caltech, National Rifle Association Locations: America, United States, GoFundMe, Covid
But all the campus adventures amount to so much throat-clearing before he gets to the gravamen of his argument. In the introduction, he gives a hint at what’s to come: “What is needed — and what most ordinary people instinctively seek — is stability, order, continuity and a sense of gratitude for the past and obligation toward the future. They have been too degraded by an “invasive progressive tyranny” to yield anything other than a populist movement that is “untutored and ill led,” he writes, alluding to Trump. Deneen spends much of “Regime Change” taking cover in gauzy abstractions, so it’s the occasional blunt-force statement like this that reveals what he would ultimately like to see. There is a lot about “the past” in this book and barely any actual history.
Persons: untutored, , Trump, ” Deneen, aristoi, Patrick J, Deneen, Márton, Tocqueville, Aristotle —
The S & P 500 is on track to finish March flat and end the first quarter up more than 3%. So if you had $10,000 to invest, where should you put it and how much should you allocate to each asset class? He also recommended getting exposure to some of the top holdings in the SPDR S & P 500 ETF , which tracks the S & P 500, as well as the VanEck Semiconductor ETF . He said he'd invest 40% into stocks: 15% in Asia, 15% in the U.S., and 10% in Europe. On the equities front, he told CNBC Pro that he would buy large-cap energy stocks.
A source with knowledge of the matter said that Swiss regulators are encouraging UBS and Credit Suisse to merge, but that both banks do not want to do so. Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. "Credit Suisse is a very special case," said Frédérique Carrier, head of investment strategy at RBC Wealth Management. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters.
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) lost almost 33% on Friday, totaling a loss of around 80% in the last 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The rescue package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) extended losses to 32% in afternoon trading on Friday after being briefly halted as $30 billion in deposits injected by large U.S. banks failed to quell investor worries about the beleaguered lender. First Republic suspended its dividend and disclosed it has $34 billion in cash excluding the new deposit injection. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
Credit Suisse declined to comment on the banks' actions. MARKET TROUBLES LINGERBanking stocks globally have been battered since Silicon Valley Bank collapsed, raising questions about other weaknesses in the wider financial system. A view of the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters. "Japan's financial system remains stable as a whole," Kishida told a news briefing.
March 17 (Reuters) - Credit Suisse and First Republic Bank shares came under renewed pressure on Friday despite multibillion-dollar support deals, while a source said European Central Bank supervisors see no contagion for euro zone banks from the turmoil. With investor confidence far from restored, analysts, investors and bankers think the loan facility has only bought Credit Suisse some time to work out what to do next. Meanwhile, U.S. regional bank shares, including PacWest Bancorp (PACW.O), also opened sharply lower, with First Republic down around 25%. But the supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters. The ECB pressed forward with a 50 basis-point rate hike, arguing that euro zone banks were in good shape and that if anything, higher rates should bolster their margins.
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) tumbled 17% in early trading on Friday after being briefly halted as $30 billion in deposits injected by large U.S. banks failed to quell investor worries about the beleaguered lender. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. "Judging by the market's reaction, it appears that maybe the damage has been done to the brand reputation of First Republic. First Republic said it borrowed up to $109 billion from the U.S. Federal Reserve between March 10 and March 15.
Just half of the public said that they had helped friends or neighbors informally during the year—e.g., lending tools, tending children—and few did so frequently. Since pandemic social-distancing rules were operating in parts of the country in this period, such findings are not entirely surprising. But they also reflect trends with a longer arc, such as the decadeslong decline in the membership of social and civic groups. The U.S. seems to have gone from “a nation of joiners” (as the historian Arthur Schlesinger Sr. put it in 1944) to “a nation of spectators” (as a blue-ribbon commission declared at the end of the 1990s). More than a few people, following a theme in Tocqueville’s “Democracy in America,” worry that reduced social involvement will weaken the skills and customs needed for democratic government.
Investors will look to corporate earnings and forward guidance during this peak reporting season, with tech firms set to report this week. He said the three themes his firm is going for now are: income, energy and small-cap stocks. Energy Petrides highlighted one "interesting play" in the energy market — Master Limited Partnerships (MLPs), which trade like stocks but are really a partnership interest. Small caps Petrides said small-cap stocks have been "one of the best-performing" asset classes on average since the 1950s. Some small-cap stocks can be described as value stocks, which are shares that appear to trade at a lower price relative to their fundamentals.
The latest threat to stocks now isn't any macro risk — it's rising 2-year Treasury yields, according to some fund managers and strategists. Short-term, relatively risk-free Treasury bonds and funds are back in the spotlight as the yield on the 2-year Treasury continues to surge. Meanwhile, U.S.-listed short-term Treasury ETFs have attracted $7 billion of inflows so far in September — six times the volume of inflows last month, BlackRock said. Here's what analysts say about how to allocate your portfolio right now. This sees investors put 60% of their portfolio in stocks, and 40% bonds.
But for 2022, Tocqueville Asset Management's John Petrides sees the fixed income market as the safe haven. "It's not often we think of the high-yield bond market as the safety place," the portfolio manager told CNBC's "Trading Nation." Inside Edge Capital Management founder Todd Gordon is more cautious on the fixed income trade. Instead, Gordon suggested an options strategy to make up for lack of yield in the fixed income space. Gordon said it will allow investors to participate in the market upside with some guardrails for safety.
"We're seeing growth come ripping back" after roughly a year of investors opting for value, Gordon said. Communications stocks have lagged the rest of the S&P 500 , but a return to growth could make them 2022's "sneaky catch-up plays," Inside Edge Capital Management founder Todd Gordon told CNBC's "Trading Nation" on Wednesday. This quarter's worst-performing sector could make a comeback in the new year, one trader says. "I think one of the sneaky catch-up plays ... is going to be communications next year. His 2022 strategy took the other side of the low interest rate trade, favoring dividend plays, particularly real estate investment trusts involved in industrial and medical office properties.
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