Post 367: The War on Cash, Business and the Next Generation

• Father’s Day trumps Mother’s Day. 
  • Don’t shoot the messenger.
• Comparing Uber with Lyft. 
  • I’ve started using Lyft more often.
• Canada’s youth are suffering from bad government policy. 
  • While the country’s baby boomers benefit.
• A look at cash. 
  • Most people still carry it but unfortunately its relevance is declining. 
    • This is a really bad thing.
• An Op-Ed from former Starbucks CEO Howard Schultz. 
  • Pointing out how the anti-business government policies in the state of Washington are driving jobs to other states.
• Headline inflation in the U.S. is the highest since 2023 as the war in Iran takes its toll. 
  • Core inflation that excludes energy is also rising.
• Financial Ructions: 
  • Bond yields are soaring from what are still relatively low levels.           
    • This will eventually matter.
  • Wholesale inflation in the U.S. soared to 6.0% 
    • This will eventually matter.
• Book Review: False Dawn by George Selgin 
  • Although government spending plummeted after World War II the economy soared. 
    • Despite the warning from Keynesian economists.
  • Official unemployment numbers would have been higher if it included all of the women who lost their jobs with men returning home after the war. 
    • But many of the women who left the workforce had no intention of staying there once the war ended.
  • Private investment is the source of economic prosperity. 
    • In particular, net private fixed investment is what matters.