Here are my Friday Five for February 14, 2014.
The bulls (here, here, and here too) are feeling that 2014 will be a good year – in spite of an $18T debt being unchartered territory. A good friend of mine who works in the investment field feels our economy will grow by 5% this year. In our conversation, I told him I hoped he was right, but I’m not as sanguine. I’m thinking 2%, at best. Like I say, I hope I’m wrong.
Generally, if you’re in government and you want to encourage a particular economic behavior, then you subsidize it. Really doesn’t matter what “it” is, you subsidize it and you’ll get more of that behavior. If you want less of a behavior you tax it, thus raising the price of whatever “it” is. So, when the government wants us to consume less petroleum, they tax it. When they want us to smoke less, they tax it. But for some reason, mandating the price of entry-level labor is supposed to make things better for everyone? I don’t think so. The ones most hurt by a raise in the minimum wage are those looking for their first entry-level job. Check it out. The CBO says it will cost us ~ 500,000 jobs. Here is a differing view.
I have not seen this report before – produced by the New York Federal Reserve. It’s focused on household debt. It’s worth a read if you’ve never looked at something like this before.
A research-driven daily schedule is interesting to look at. What I take away from this article isn’t in the article at all: Be sure that you don’t sacrifice time with the Lord for your job. Make knowing God the organizing principle of your life and build *everything* around that. We’re here for such a short period of time anyways. The rich and powerful come and go faster than a revolving door can get them in and out. Do your job and do it well. But know Christ better than the details of your job.
Bill English, CEO