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Five Big Debates at FreedomFest: Which Was #1?

“I love FreedomFest — wonderfully interesting people and non-stop intellectual stimulation. The debates are the best!” — John Mackey, CEO, Whole…

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“I love FreedomFest — wonderfully interesting people and non-stop intellectual stimulation. The debates are the best!” — John Mackey, CEO, Whole Foods Market

FreedomFest was a triumph this year, with over 2,600 registered attendees. At the same time, thousands of concerned citizens were watching the events live on FoxNation.

FreedomFest is famous for its debates. Genuine debate is becoming rare in America, but not at our show.

Debate #1: What is the Best Way to Beat the Market?

The first one pitted Alex Green, chief investment officer of the Oxford Club, and market timer Mike Turner on “Buy and Hold Versus Market Timing.” Does it pay to get out during a bear market, or even short the market, to maximize returns?

In the “The Maxims of Wall Street,” Mike Turner declares, “Buy and hold works if you live long enough, never need the money, and don’t mind losing 50% or more from time to time.” (p. 139; to order at a discount, go to www.skousenbooks.com).

Investors are sympathetic to those concerns, and we had a packed crowd for the debate.

The problem is that market timing — seeking to be in the market during bull markets and into cash or shorting the market during bear markets — is easier said than done. Few have successfully done it. Turner claims to be one of them.

The Problem of ‘Whipsaws’ with Market Timing

The challenge is that much of the time, the market’s trend is hard to predict. As a result, market timing strategies often lead to “whipsaws,” when the stock market goes above its moving average for a few days, but then falls below it, resulting in a loss — not a successful strategy.

In the past, Turner’s system has failed him, but he has improved it. Now, it is working better. It is particularly good when we go through a genuine bear market. He has a much tougher time making money in trend-less markets.

The Benefits of Dollar-Cost Averaging

After the debate, I pointed out that dollar-cost averaging is a very successful strategy to take advantage of downturns on Wall Street, and it even does well when the market is trendless for years.

Burt Malkiel, an economics professor at Princeton and author of the classic “A Random Walk Down Wall Street,” supports dollar-cost averaging as a good way to beat the market. It can even work when the market is going nowhere.

For example, during the lost decade of 2000-2010, when the Dow was stuck between 10,000 and 11,000, you can see that dollar-cost averaging made money because you buy more stocks when the market is down.

Another point is that right now, Turner is short the market, so he is missing out on the rally that is taking place right now.

Second Debate: ‘Should We Tax the Rich More?’

Another great debate took place on Thursday on the Mirage Main Stage, where actor/economist Ben Stein made the case that the rich should pay more in taxes. Ben Stein had previously appeared 20 years earlier as the keynote speaker at FEE Fest, the precursor to FreedomFest, in 2002.

We showed the famous clip of Stein as a boring professor in Ferris Bueller’s Day Off, where he referenced the Laffer curve as “voodoo economics.”

Then, Art Laffer, the economist who invented the Laffer curve, appeared on the stage, and we had a rip-roaring debate on supply-side economics and progressive taxation.

I moderated the debate.

Like Laffer, Stein is an economist who favors less government and conservative values. However, he is a critic of “supply side” economics (a term invented by his father, Herbert Stein). He blames supply-side tax cuts for the growing federal deficits.

However, it should be pointed out that deficit spending became a serious problem under the influence of Keynesian economics in the 1960s, before supply-side economics was born.

See the graph in last week’s Skousen CAFÉ.

Laffer pointed out that every time the rich were taxed more, economic growth declined, and when taxes were cut, the economy grew faster. He appeared to have won the debate. The last thing we need now is higher taxes on the rich — the successful entrepreneurs and capitalists.

Was the 2020 Election Stolen, and Should Trump Run Again?

On Saturday, July 15, the last day of the conference, radio personality Wayne Allyn Root debated reporter Isaac Saul on Trump’s claim that the 2020 election was stolen and that the former president should run again in 2024. National Review’s John Fund was the moderator.

It was the most controversial debate in Vegas. It sometimes became heated, with some audience members shouting down Saul for making the case against widespread voter fraud.

Should Trump be the Republican nominee for 2024? My question is: Why should Republicans choose a man with a damaged reputation when there is a Republican candidate out there with impeccable credentials (a graduate of Harvard and Yale), a Navy veteran, a former congressman and the current governor of the third-most populous state, Gov. Ron DeSantis of Florida?

Saving the Best for Last: My Creative Interview with Sen. Rand Paul

On Friday, July 15, I interviewed Sen. Rand Paul before an enthusiastic crowd. At the end, they gave him an instant standing ovation. It turned out to be the most popular event at this year’s FreedomFest in Vegas. Sen. Paul told me afterwards it was the most unique interview he’s ever done.

I showed the audience four clips from confrontations the senator had with Dr. Anthony Fauci on COVID-19 vaccines, Homeland Security Secretary Alejandro Mayorkas on disinformation, Assistant Secretary of Health Rachel Levine on giving transgender drugs to minors and George Stephanopoulos of “ABC News” on the 2020 election. Senator Paul gave his candid response to each one.

You can watch the video and all the other sessions at FreedomFest by purchasing the audio recordings. To order, call Harold at 1-801-414-1040.

FreedomFest Las Vegas was a Triumph!

Nick Gillespie (Reason magazine), Mark Skousen (producer), Kennedy (“Fox Business”), John Cleese (British comedian), Senator Rand Paul, and former Congressman Justin Amash gather at FreedomFest in Las Vegas.

I’m still overwhelmed by the success of this year’s conference in Las Vegas.

How to Order All the Audio Recordings

The enthusiasm was palpable, with over 350 speakers, 180 exhibitors and more than a dozen debates. To see the entire agenda, go here.

If you would like to buy the audio recordings of the entire conference, the price is only $195. To order, call Harold at 1-801-414-1040.

Next Year’s FreedomFest will be at…

We also announced that next year’s big show will be in:

Memphis, Tennessee!

Here is our three-minute video on FreedomFest Memphis:

Memphis is the headquarters of FedEx (founded and led by libertarian CEO Frederick Smith) and is famous for Elvis’s home Graceland, the Civil Rights Museum and rhythm and blues. Our theme is “The Soul of Liberty.”

We’ve already confirmed our first keynote speaker, Douglas Brinkley, an historian at Rice University who has written biographies of Ronald Reagan, John F. Kennedy and the Roosevelts, among others. He is known as America’s presidential biographer.

Super Early Bird Discount — Only $397 per Person!

We are offering our lowest discount price on next year’s FreedomFest:. It is only $397 per person. That’s $100 off the “early bird” price. But you must register before Aug. 31. To do so, go here.

Good investing, AEIOU,

Mark Skousen

You Blew It!

The Use and Abuse of Foul Language

“The subject skims the joy off the pan of conversation.” — John Steinbeck

Every year, we invite a celebrity to speak at FreedomFest. Past celebrities have included William Shatner, George Foreman and Kevin O’Leary.

This year, our celebrity was the English actor, comedian and producer John Cleese, who is famous for the “Monty Python” films and other irreverent comedies.

John Cleese steals my hat at FreedomFest!

During the conference, I asked him if he thought our Western culture was in decline. He agreed. I used language as an example, especially the increasing use of swear words and vulgarities, especially the f-word.

I then asked him, “Will we come to a time when there will be no such thing as dirty words or foul language?”

He didn’t think so. He used the f-word casually in his speech at FreedomFest, but he refused to say the n-word when he brought it up. I took this to be a sign of the times.

He said he would use foul language in a comedy act or a movie, but not in a church. “It’s all about the context,” he said.

Unfortunately, the trend suggests otherwise. No longer are curse words or sexually explicit language limited to periods of anger. Today, dropping the f-bomb is so common that people think they can speak that way in front of anyone.

It’s a sad shift with regard to today’s society.

Whenever I go out to dinner with strangers, there’s always somebody who abuses language. I find it annoying, especially the fact that few of these people sense that others, such as myself, don’t use racist or gutter language.

So, I stop them and say, “Would you use the n-word to me or in public?”

Their answer is invariably, “Oh, of course not.”

I respond, “Well, that’s how I feel about the f-word.”

It usually stops them, and we can continue to have a pleasant conversation.

The post Five Big Debates at FreedomFest: Which Was #1? appeared first on Stock Investor.

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Are Voters Recoiling Against Disorder?

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super…

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Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super Tuesday primaries have got it right. Barring cataclysmic changes, Donald Trump and Joe Biden will be the Republican and Democratic nominees for president in 2024.

(Left) President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library in Culver City, Calif., on Feb. 21, 2024. (Right) Republican presidential candidate and former U.S. President Donald Trump stands on stage during a campaign event at Big League Dreams Las Vegas in Las Vegas, Nev., on Jan. 27, 2024. (Mario Tama/Getty Images; David Becker/Getty Images)

With Nikki Haley’s withdrawal, there will be no more significantly contested primaries or caucuses—the earliest both parties’ races have been over since something like the current primary-dominated system was put in place in 1972.

The primary results have spotlighted some of both nominees’ weaknesses.

Donald Trump lost high-income, high-educated constituencies, including the entire metro area—aka the Swamp. Many but by no means all Haley votes there were cast by Biden Democrats. Mr. Trump can’t afford to lose too many of the others in target states like Pennsylvania and Michigan.

Majorities and large minorities of voters in overwhelmingly Latino counties in Texas’s Rio Grande Valley and some in Houston voted against Joe Biden, and even more against Senate nominee Rep. Colin Allred (D-Texas).

Returns from Hispanic precincts in New Hampshire and Massachusetts show the same thing. Mr. Biden can’t afford to lose too many Latino votes in target states like Arizona and Georgia.

When Mr. Trump rode down that escalator in 2015, commentators assumed he’d repel Latinos. Instead, Latino voters nationally, and especially the closest eyewitnesses of Biden’s open-border policy, have been trending heavily Republican.

High-income liberal Democrats may sport lawn signs proclaiming, “In this house, we believe ... no human is illegal.” The logical consequence of that belief is an open border. But modest-income folks in border counties know that flows of illegal immigrants result in disorder, disease, and crime.

There is plenty of impatience with increased disorder in election returns below the presidential level. Consider Los Angeles County, America’s largest county, with nearly 10 million people, more people than 40 of the 50 states. It voted 71 percent for Mr. Biden in 2020.

Current returns show county District Attorney George Gascon winning only 21 percent of the vote in the nonpartisan primary. He’ll apparently face Republican Nathan Hochman, a critic of his liberal policies, in November.

Gascon, elected after the May 2020 death of counterfeit-passing suspect George Floyd in Minneapolis, is one of many county prosecutors supported by billionaire George Soros. His policies include not charging juveniles as adults, not seeking higher penalties for gang membership or use of firearms, and bringing fewer misdemeanor cases.

The predictable result has been increased car thefts, burglaries, and personal robberies. Some 120 assistant district attorneys have left the office, and there’s a backlog of 10,000 unprosecuted cases.

More than a dozen other Soros-backed and similarly liberal prosecutors have faced strong opposition or have left office.

St. Louis prosecutor Kim Gardner resigned last May amid lawsuits seeking her removal, Milwaukee’s John Chisholm retired in January, and Baltimore’s Marilyn Mosby was defeated in July 2022 and convicted of perjury in September 2023. Last November, Loudoun County, Virginia, voters (62 percent Biden) ousted liberal Buta Biberaj, who declined to prosecute a transgender student for assault, and in June 2022 voters in San Francisco (85 percent Biden) recalled famed radical Chesa Boudin.

Similarly, this Tuesday, voters in San Francisco passed ballot measures strengthening police powers and requiring treatment of drug-addicted welfare recipients.

In retrospect, it appears the Floyd video, appearing after three months of COVID-19 confinement, sparked a frenzied, even crazed reaction, especially among the highly educated and articulate. One fatal incident was seen as proof that America’s “systemic racism” was worse than ever and that police forces should be defunded and perhaps abolished.

2020 was “the year America went crazy,” I wrote in January 2021, a year in which police funding was actually cut by Democrats in New York, Los Angeles, San Francisco, Seattle, and Denver. A year in which young New York Times (NYT) staffers claimed they were endangered by the publication of Sen. Tom Cotton’s (R-Ark.) opinion article advocating calling in military forces if necessary to stop rioting, as had been done in Detroit in 1967 and Los Angeles in 1992. A craven NYT publisher even fired the editorial page editor for running the article.

Evidence of visible and tangible discontent with increasing violence and its consequences—barren and locked shelves in Manhattan chain drugstores, skyrocketing carjackings in Washington, D.C.—is as unmistakable in polls and election results as it is in daily life in large metropolitan areas. Maybe 2024 will turn out to be the year even liberal America stopped acting crazy.

Chaos and disorder work against incumbents, as they did in 1968 when Democrats saw their party’s popular vote fall from 61 percent to 43 percent.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 03/09/2024 - 23:20

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Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The…

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Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Department of Veterans Affairs (VA) reviewed no data when deciding in 2023 to keep its COVID-19 vaccine mandate in place.

Doses of a COVID-19 vaccine in Washington in a file image. (Jacquelyn Martin/Pool/AFP via Getty Images)

VA Secretary Denis McDonough said on May 1, 2023, that the end of many other federal mandates “will not impact current policies at the Department of Veterans Affairs.”

He said the mandate was remaining for VA health care personnel “to ensure the safety of veterans and our colleagues.”

Mr. McDonough did not cite any studies or other data. A VA spokesperson declined to provide any data that was reviewed when deciding not to rescind the mandate. The Epoch Times submitted a Freedom of Information Act for “all documents outlining which data was relied upon when establishing the mandate when deciding to keep the mandate in place.”

The agency searched for such data and did not find any.

The VA does not even attempt to justify its policies with science, because it can’t,” Leslie Manookian, president and founder of the Health Freedom Defense Fund, told The Epoch Times.

“The VA just trusts that the process and cost of challenging its unfounded policies is so onerous, most people are dissuaded from even trying,” she added.

The VA’s mandate remains in place to this day.

The VA’s website claims that vaccines “help protect you from getting severe illness” and “offer good protection against most COVID-19 variants,” pointing in part to observational data from the U.S. Centers for Disease Control and Prevention (CDC) that estimate the vaccines provide poor protection against symptomatic infection and transient shielding against hospitalization.

There have also been increasing concerns among outside scientists about confirmed side effects like heart inflammation—the VA hid a safety signal it detected for the inflammation—and possible side effects such as tinnitus, which shift the benefit-risk calculus.

President Joe Biden imposed a slate of COVID-19 vaccine mandates in 2021. The VA was the first federal agency to implement a mandate.

President Biden rescinded the mandates in May 2023, citing a drop in COVID-19 cases and hospitalizations. His administration maintains the choice to require vaccines was the right one and saved lives.

“Our administration’s vaccination requirements helped ensure the safety of workers in critical workforces including those in the healthcare and education sectors, protecting themselves and the populations they serve, and strengthening their ability to provide services without disruptions to operations,” the White House said.

Some experts said requiring vaccination meant many younger people were forced to get a vaccine despite the risks potentially outweighing the benefits, leaving fewer doses for older adults.

By mandating the vaccines to younger people and those with natural immunity from having had COVID, older people in the U.S. and other countries did not have access to them, and many people might have died because of that,” Martin Kulldorff, a professor of medicine on leave from Harvard Medical School, told The Epoch Times previously.

The VA was one of just a handful of agencies to keep its mandate in place following the removal of many federal mandates.

“At this time, the vaccine requirement will remain in effect for VA health care personnel, including VA psychologists, pharmacists, social workers, nursing assistants, physical therapists, respiratory therapists, peer specialists, medical support assistants, engineers, housekeepers, and other clinical, administrative, and infrastructure support employees,” Mr. McDonough wrote to VA employees at the time.

This also includes VA volunteers and contractors. Effectively, this means that any Veterans Health Administration (VHA) employee, volunteer, or contractor who works in VHA facilities, visits VHA facilities, or provides direct care to those we serve will still be subject to the vaccine requirement at this time,” he said. “We continue to monitor and discuss this requirement, and we will provide more information about the vaccination requirements for VA health care employees soon. As always, we will process requests for vaccination exceptions in accordance with applicable laws, regulations, and policies.”

The version of the shots cleared in the fall of 2022, and available through the fall of 2023, did not have any clinical trial data supporting them.

A new version was approved in the fall of 2023 because there were indications that the shots not only offered temporary protection but also that the level of protection was lower than what was observed during earlier stages of the pandemic.

Ms. Manookian, whose group has challenged several of the federal mandates, said that the mandate “illustrates the dangers of the administrative state and how these federal agencies have become a law unto themselves.”

Tyler Durden Sat, 03/09/2024 - 22:10

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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