Crypto ads reminiscent of 2000 Super Bowl

David MoonBlog

One of this year’s new Super Bowl advertisers was Coinbase, operator of the world’s largest cryptocurrency exchange platform. The company provides its users access to what some people describe as the most technologically sophisticated financial products in the history of mankind. The Coinbase website crashed during the commercial. Coinbase was one of four cryptocurrency advertisers in this year’s Super Bowl. These companies want to solidify your financial future by enabling you to easily buy and sell Bitcoin, Ethereum, Litecoin and any other of the more than 10,000 different digital currencies that have been created so far. It was impossible not … Read More

Supply chain not quickly fixable

David MoonBlog

Because of supply chain problems, it’s been weeks since I’ve had Sweet P’s spicy fried pickles or a delivery of lemon-lime Gatorade Zero. The supply chain is seemingly responsible for anything that doesn’t go well, including consumer inflation, skyrocketing house prices, Adele cancelling her Las Vegas show and Tennessee’s basketball loss to Texas. Okay; I made up that last one. But if something bad happens these days, you can almost guarantee that someone will blame it on this quasi-nebulous, ominous-sounding, all-encompassing thing: The Supply Chain. An academic definition of supply chain includes about everything a company does. A supply chain … Read More

Market swings are like football cheers

David MoonBlog

In the first three weeks of this year, the Dow Jones Industrial Average (DJIA) declined 2,200 points, or six percent. Technology shares fared much worse, with the Nasdaq Composite Index falling more than twice that amount. This past weekend investment bank Jeffries sent clients a note saying there were signs the U.S. stock market was nearing a bottom. By noon the next day, the DJIA had dropped another thousand points. The highest-paid analysts on Wall Street can’t predict what the stock market is going to do in the short-term. Neither can you. Here in dependably Republican East Tennessee, few observers … Read More

Focused action needed from Fed

David MoonBlog

One afternoon following a recent 200-point decline in the Dow Jones Industrial Average, Fox Business News host Charles Payne remarked, “The market had a tough week; the big nemesis is the Federal Reserve.” I hate to break the news to Mr. Payne, but the role of the Federal Reserve is not to support or prop up stock prices. Nor is the purpose of the Federal Reserve to combat climate change – something the newest Fed Board of Governors nominee has suggested is a proper function of the U.S. central bank. It is intriguing that an entity with more than $9 … Read More

Third Fed official resigns amid trading controversy

David MoonBlog

Federal Reserve Board Vice Chairman Richard Clarida resigned this week under pressure for purchasing millions of dollars in stocks the day before the Fed announced emergency measures to support the economy. It is illegal for fund managers to “front run” their clients’ or investors’ trades. Clarida front ran the entire country. He is also the third Fed official to resign in less than four months following disclosures of trades each made in the early days of the pandemic. Is it any wonder people don’t trust the Fed? House Speaker Nancy Pelosi and her husband recently made $30 million trading stock … Read More

Signs wars relic of banking past

David MoonBlog

The bank sign wars continue in downtown Knoxville, with Truist (“What do you get when you cross a BB&T with a SunTrust?”) maintaining its tight lead over First (Tennessee) Horizon, but likely not for long. The 24-story Riverview Tower (the C.H. Butcher building, for Knoxville old-timers) once had BB&T signs near the top of the building on all four sides. The building now features the non-word “Truist” next to a logo that looks like the YouTube video pause button. Next door at the 27-story Plaza Tower (the Jake Butcher building), First Horizon is replacing its rooftop red, white and blue … Read More

Are you the root cause of inflation?

David MoonBlog

Inflation is almost certainly headed even higher – and expect some experts to place the blame on you. You’re buying too much stuff. Christmas retail sales were a record $843.4 billion this season, an 8.5 percent increase from a year ago. This follows a then-record $777.3 billion in Christmas sales last year, an 8.2 percent jump from 2019 levels. Since at least 2000, Christmas sales have never increased more than 7 percent in a single year. We’ve now had two consecutive years of more than 8 percent increases. In those same two years US production increased a total of zero. … Read More

My Christmas wish list for others

David MoonBlog

Thinking of others is always the kind and mature thing to do, especially at Christmas. It is with that sense of selfless generosity (and some sarcasm) that I’ve compiled a list of gifts for others this year. For President Biden, I wish for his safety and good health. And a three-year supply of 5 Hour Energy. For Nick Saban and Mitch McConnell, retirement parties. For the City of Knoxville, home of the Women’s Basketball Hall of Fame and the Sunsphere, a new marketing tagline: “Knoxville, we got balls.” (Who needs good grammar with that kind of chutzpah?) Santa should bring … Read More

Seven secrets or excuses?

David MoonBlog

While perusing social media the past couple of weeks (an admittedly horrible habit), several times I ran across the same reposted comment titled “The Seven Secrets of Highly Successful People.” I want to be highly successful, so the post immediately caught my attention. Apparently, not only are my odds of succeeding not very good, but according to this list, the secrets to success are completely out of my control. The first two supposed secrets to success are private school and legacy admission to an Ivy League school. Uh-oh; things aren’t starting too well for this rural Alabama redneck. The next … Read More

All decisions are risky

David MoonBlog

To increase pedestrian safety, Knoxville is reducing the City’s unposted speed limit from 30 to 25 mph. Speaking at a recent City Council meeting, the president of Bike Walk Knoxville cited research that a person is 70 percent more likely to be killed if they are struck by a vehicle travelling 30 mph versus 25 mph. Why not reduce the speed limit to 5 mph? Or we could eliminate all vehicle/pedestrian fatalities be outlawing vehicles in the city. Zero pedestrian deaths. Zero food and package delivery, too. I’m not picking on City Council. And I don’t care what the speed … Read More