JPMorgan and the Necessity of Risk

I don’t know all the behind-the-scenes details of JPMorgan’s recent $5.8 billion (oof!) trading loss, but I know I don’t like the general tenor of reactions to it. In spite of the fact that JPMorgan is a private company, and in spite of the fact that they actually turned a profit last quarter, people are acting like JP Morgan commandos rappelled More …

"The End Point of the Welfare State"

Powerline notes that last month, more Americans went on disability than found jobs, and makes some observations about the future trajectory of our great republic: What should we make of an ever-healthier country that produces a steadily growing number of citizens who think their best option is to be disabled? This is a financial problem; a political problem; but above More …