Rubio Saves Tillerson Confirmation In 11-10 Vote

The Senate Foreign Relations Committee approved Rex Tillerson’s nomination as secretary of state by a vote of 11-10 - falling along party lines (with Democrats dissenting). As Bloomberg notes, this vote clears the way for the full Senate to confirm one of President Donald Trump’s most critical cabinet choices.

The Cost Of Regulatory Compliance: $20,000 For Every American Worker

Annual regulatory compliance and economic impact costs amount to $1.8 trillion, which is roughly equal to all personal and corporate income tax collections. This is equivalent to roughly $20,000 per employee for all US firms, and $30,000 per full-time employee for small firms.

The Myth Of The "Passive Indexing" Revolution

Investors need to be cognizant of, and understand why, the chorus of arguments in favor of short-sighted and flawed strategies are so prevalent. The meteoric rise in passive investing is one such “strategy” sending an important and timely warning. Just remember, everyone is “passive” until the selling begins.

The World Is Awash In Bullshit

"Politicians are unconstrained by facts. Science is conducted by press release. So-called higher education often rewards bullshit over analytic thought. Startup culture has elevated bullshit to high art. Advertisers wink conspiratorially and invite us to join them in seeing through all the bullshit, then take advantage of our lowered guard to bombard us with second-order bullshit..."

Sean Spicer Gives First Official White House Press Conference - Live Feed

With CNN comparing White House press secretary to Baghdad Bob after his five-minute statement on Saturday that was widely criticized for containing false claims (or "alternative facts"), Sean Spicer is set to give his first official press briefing for President Donald Trump this afternoon. We wish Spicer the best of luck in this potentially career-defining moment...

El-Erian Warns "Investors Are Underestimating Sudden Policy Shifts"

"...the more central banks persist in erring on the side of too much stimulus rather than too little, amid changing economic and fiscal conditions, the greater the potential need for a sudden shift in monetary policy that, while economically warranted, could be quite jarring for markets... and investors may be underestimating as judged by market metrics, including measures of implied volatility."

Russian Warplanes Fly First Joint Mission With US-Coalition Aircraft Kremlin Says, Pentagon Denies

Russian and Turkish combat planes have carried out a new series of joint airstrikes against Daesh targets in war-torn Syria, the Russian Defense Ministry said on Monday. "The Russian and Turkish planes carried out joint airstrikes against Islamic State terrorists in the outskirts of the town of al-Bab in Aleppo province on January 21," the ministry said in a statement.