The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
Run for your lives, investors
David Stockman, a former aide to U.S. president Ronald Reagan, has written a blazing denunciation of almost every major economic decision in the United States since Dwight Eisenhower was in the White House. The book is called The Great Deformation: The Corruption of Capitalism in America, and it’s the basis for this op-ed piece in the New York Times. Stockman’s ominous conclusion: “When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.”
Now, take a breath. Here, six experts offer their rebuttals to Mr. Stockman’s new book.
What you need to know about stock market corrections
The U.S. stock market has come a long way and there’s a fair bit of concern right now that a normal pullback is coming. Here’s some data that tells you how previous corrections have played out.
Let’s play ball
To mark opening day for the Toronto Blue Jays, here’s a look at the cost of a beer and a hotdog at various ballparks. The Jays did not respond to this survey, and you’ll have an idea of why if you've visited their concession stands. Last time I took in a game, I paid more for a beer than for my ticket, and we didn’t have bad seats at all.