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Articles by Jeff Schulze
Perché il boom Ia non è una bolla
“Party like it’s (not) 1999” è una frase resa famosa dalla canzone di Prince del 1982, che ha vissuto una rinascita durante le paure legate al Y2K ed è poi entrata nel linguaggio comune con il significato di vivere intensamente il presente, perché il futuro è incerto. L’espressione sembra adatta a descrivere l’attuale scenario degli investimenti, viste le somiglianze con la bolla dot-com della fine degli anni ’90 e oggi.
Data Dearth and the Dashboard
The U.S. federal government shutdown has halted most economic data releases over the past month. While the timing is suboptimal given the cooling U.S. labor market, this does not mean that investors are “flying blind,” as many alternative private sector data sources are available. Although these datasets often have narrower scope or less depth, we monitor them even when the federal government is open for business to help supplement our understanding of the U.S. economy.
Bubble or boom?
As firms or households see others making profits from speculative purchases and resales, they tend to follow. When the number of firms and households indulging in these practices grows larger, and the belief spreads that the object of speculation can only go up, speculation for profit leads away from normal, rational behaviour to what have been described as ‘manias’ or ‘bubbles’.
'Keaton' is a biography best watched than read
Steve Martin was once asked about the origin of his comedic stylings. He answered by recalling a moment with his school pals. When trying to retell the humorous event to other classmates, he couldn't get a chuckle. Seeing that his yarn had fallen flat, he said: "Well, I guess you had to have been there." That 180-degree swing in reactions to a rib-tickler confounded Martin. He re-examined his understanding of what made great comedy, and he concluded the best materials live in the moment.
Book review: In new Lee biography, author implores reader to judge general as a man, not as an icon
Book review: In new Lee biography, author implores reader to judge general as a man, not as an icon Robert E. Lee: A Life Of the 16 books Allen Guelzo has authored, 12 are tied to the American Civil War. A glance at the list indicates no contemporary motive for his choosing to pen these books. There was more serendipity involved in his choice for his 17th effort. “Robert E. Lee: A Life” was released as the Virginia Supreme Court gave final clearance for the Lee statue in Richmond to be removed.
Book review: Son of 'River Runs Through It' author casts for a different set of answers
Home Waters Forty-five years after its publication, “A River Runs Through It and Other Stories” still holds a special place in the hearts of fly fisherman (or wannabes like this reviewer). Norman Maclean’s novella beautifully described how an outdoors pursuit for both food and fun brought a spiritual fulfillment to a deeply religious family struggling to reconcile its faith with the afflictions haunting it. In truth, Maclean’s pursuit didn’t have to be fly fishing.
Book review: 'N-4 Down" shows how polar explorers were blinded by ice, snow and vanity
Book review: 'N-4 Down" shows how polar explorers were blinded by ice, snow and vanity N-4 Down Pity the airship. The dirigible came of age while fixed-wing, combustion engine-powered aircraft were still in their infancy. Airships ferried passengers vast stretches, all while setting speed and distance records. They also were a valuable vessel for exploring once-unreachable lands at the start of the 20th century. Yet our collective memory of them seems limited to their ghastly demise.
Book review: Junger's 'Freedom' exposes central argument of those seeking real liberty
Freedom IF WE FOLLOW Sebastian Junger’s advice, we should ponder a few questions: What does the word freedom truly mean? What does it imply and what does it require? In these fraught times full of political, cultural and class strife, a word like freedom becomes a last-ditch anchor for those mired in passionate debate. But is it truly the right word for certain arguments?
Book review: 'Lost Boys' shows how grief can impact the collective conscience of a community
Book review: 'Lost Boys' shows how grief can impact the collective conscience of a community The Lost Boys of Montauk “Grief is the agony of an instant; the indulgence of grief is the blunder of a life.”—Benjamin Disraeli The former prime minister of the United Kingdom apparently had little tolerance for those who wallowed in sorrow. Perhaps it was sound advice; immersing onself in endless melancholia is akin to slow death.
Book review: In 'Chasing the Thrill,' reader learns one man's treasure is another man's trap
Book review: In 'Chasing the Thrill,' reader learns one man's treasure is another man's trap Chasing the Thrill At any one time, a treasure hunt can be an intoxicating blend of allure, risk and mystery. Seeking self-enrichment, both in wallet and mind, a searcher will put resources on the line to fulfill the quest, even if the wisdom of such an endeavor is questionable.
Book review: 'Hunt for History' shows the value of physical contact with our past
Book review: 'Hunt for History' shows the value of physical contact with our past The Hunt for History TO THIS DAY, I still kick myself for throwing out my baseball card collection in the late 1970s (was Mickey Mantle’s 1952 rookie card in that shoebox?) Perhaps you, too, agonize over junking antiques, family heirlooms, letters passed down generations. We all thought it was worthless. Well, join the crowd.
Book review: Colapinto shows in 'This is the Voice' all human sound and fury signifies everything
Book review: Colapinto shows in 'This is the Voice' all human sound and fury signifies everything This is the Voice BE FOREWARNED—digesting John Colapinto’s “This is the Voice” may result in spontaneous episodes of the reader’s jaws dropping, lips pursing, tongue flicking and lungs expelling quick pulses of air. That’s because this wonderfully detailed examination of the human voice implicitly encourages the reader to actively experience what the author learned.
Book review: Putnam's 'Upswing' envisions new communitarian era for U.S., with provisions
Book review: Putnam's 'Upswing' envisions new communitarian era for U.S., with provisions The Upswing IN THEIR INSTANT analyses, armchair historians will likely point to the events of Jan. 6, 2021, as the moment the United States reached its nadir. While the storming of the Capitol will be an insoluble stain on the nation’s fabric, it’s premature to say it’s the low-water mark.
Book review: MacMillan's 'War' battles to understand hows and whys of human conflict
War RARELY DOES THE nonfiction reader come across a book that can’t answer the questions it asks. But that’s the case with Margaret MacMillan’s “War: How Conflict Shaped Us.” She’s a history professor, but even she struggles to contemplate, let alone explain, the conundrums war presents: War is abhorrent, but it is often alluring and its values seductive.
Book review: H.W. Brands demystifies John Brown, Lincoln in 'The Zealot and the Emancipator'
Book review: H.W. Brands demystifies John Brown, Lincoln in 'The Zealot and the Emancipator' The Zealot and the Emancipator WHEN H.W. Brands began his writing career in the late 1980s, he focused primarily on singular figures and circumstances in American history. Lately, he’s employed a new wrinkle to his biographies and histories: compare and contrast the actions and outcomes of multiple figures in a periodic drama.
Book review: Jim Gray serves up inside stories of sports legends in 'Talking to GOATs'
Talking to GOATs SIT BACK AND recall any big baseball, basketball, boxing, football, golf or Olympics moment of the past four decades. More than likely, Jim Gray was there to report it. The ubiquitous lion of televised sports journalism always seemed to be on the right network at the right time, asking the key questions to fill the blanks in the story. The job gave him a lot of access to the games’ greats.
Book review: Jim Gray serves up inside stories of sports legends in 'Talking With GOATs'
Talking to GOATs SIT BACK AND recall any big baseball, basketball, boxing, football, golf or Olympics moment of the past four decades. More than likely, Jim Gray was there to report it. The ubiquitous lion of televised sports journalism always seemed to be on the right network at the right time, asking the key questions to fill the blanks in the story. The job gave him a lot of access to the games’ greats.
Book Review: 'I Marched with Patton' is a bit out of step with time
Book Review: 'I Marched with Patton' is a bit out of step with time I Marched With Patton FOR SOME TIME, publishing houses have targeted “the Greatest Generation” and its admirers with tomes that recounted its deeds. The publishers likely eyed easy sales, but it was still fitting to salute a rare breed of can-doers. But some accounts get told and retold. There are fewer slivers of details to research, less threads of anecdotes to stitch together.
Book review: 'American Daredevil' shows how mild-mannered types can be true superheroes
American Daredevil LIKE ALL of us, author Brett Dakin had a member of his immediate family tell him a tale of a distant relative. Like some of us, the tale spurred him to do some genealogical work and research government records to learn more about this relative. Like a few of us, Dakin’s efforts ultimately produced an unflattering profile of the relative. And like practically none of us, Dakin dug deeper into his investigation to set the story straight.
Book review: 'Year of Dangerous Days' revisits the 1980 bonfire by Biscayne Bay
Book review: 'Year of Dangerous Days' revisits the 1980 bonfire by Biscayne Bay The Year of Dangerous Days Thick black smoke wafting over a looted business district. Thousands venting their anger over the death of a Black man at the hands of a largely white police force. City residents stewing over a lingering immigration issue, financial woes and ineffective presidential leadership.
Book Review: '14 Miles: Building the Border Wall' shows that division sometimes doesn't add up
THE FIRST house I ever owned had a joint living room/dining area. I became convinced early on in my residency there needed to be a wall separating the two. The divider, I told myself and anyone who was listening, was needed to define each room and keep them separate. If it resulted in more confined spaces, limited activities and bunched-up foot traffic at the narrow passageway, it was a small price to pay for following tradition and maintaining order.
Book review: 'Storm's' damage is minimal
The U.S. is at a tipping point. Its federal government cannot operate efficiently and its military can’t untangle itself from lengthy warfare. Business prospects are low, industrial innovation has been stifled, the citizenry is divided and political discord is at the broiling point. Is this it for the American Dream? Hardly, according to George Friedman.
Book Review: Treanor's "A Quiet Cadence" talks of Marine unit love that goes on long after shooting stops
SURVIVOR’S GUILT is a cruel legacy for veterans. Discharged servicemen seeking post-war peace of mind can’t come to grips with understanding why they lived while their buddies died. Some vets find solace in veterans’ holidays, statues and memorials. Others use unit reunions and professional counseling to soothe their souls. And unloading the burden of memories in print apparently is therapeutic; library shelves are full of ex-warriors’ autobiographies.
Book Review: 'Enemy of all Mankind' was bigger threat to the world order than to his homeland
Apparently, Henry Every doesn’t rate very highly in pirate circles. A quick Google check showed Blackbeard, Calico Jack, Captain Kidd, Henry Morgan (the man), Captain Morgan (the rum), the Pittsburgh baseball team, a slew of Johnny Depp movies and other buccaneers get more online hits than the obscure English sea thief of the late 17th century.
Book review: "Kilo" shows how cocaine's lure of money and affluence is upending Colombia
IT’S EASY TO pity the lone user struggling with cocaine addiction. Does anyone have empathy for the burdened souls where the white powder is made? It’s among the tough questions asked by journalist Toby Muse in his new book, “Kilo.” The British–American writer and TV commentator has lived for 15 years in Colombia. He’s seen what trafficking has wrought on the Colombian people.
Book review: 'Tightrope' shows how working-class lives often are teetering on the edge
TAKE A MOMENT to recall the kids you rode the bus with to school. Now try imagining what became of them. You probably see your old classmates living healthy, productive, fully formed lives. Nicholas Kristof likely had the same hope when he traced down the paths of the old gang who rode with him on the No. 6 bus in Yamhill, Ore., in the mid-1970s, but it was not to be.
Book review: 'Tightrope' shows how working-class lives often are teetering on the edge
TAKE A MOMENT to recall the kids you rode the bus with to school. Now try imagining what became of them. You probably see your old classmates living healthy, productive, fully formed lives. Nicholas Kristof likely had the same hope when he traced down the paths of the old gang who rode with him on the No. 6 bus in Yamhill, Ore., in the mid-1970s, but it was not to be.
Book review: 'Ride the Devil's Herd' is a new take on the Old West
WESTERN MOVIES are fun to watch, particularly the ones involving the famed Gunfight at OK Corral. Two sets of adversaries squared off, eyes locked on eyes, fingers twitching above holstered six-shooters, all waiting to see which gunman would flinch first. The dialogue was fun, too; plenty of tough talk and menacing words. And the context was great—layer upon layer of provocations that prompted combatants to want to “set things right.” Alas, movies, dime-store novels and campfire yarns about Oct.
Book review: 'Ride the Devil's Herd' is a new take on the Old West
WESTERN MOVIES are fun to watch, particularly the ones involving the famed Gunfight at OK Corral. Two sets of adversaries squared off, eyes locked on eyes, fingers twitching above holstered six-shooters, all waiting to see which gunman would flinch first. The dialogue was fun, too; plenty of tough talk and menacing words. And the context was great—layer upon layer of provocations that prompted combatants to want to “set things right.” Alas, movies, dime-store novels and campfire yarns about Oct.
The Long View: A Pivotal Year for Equities
There are only three things certain in life: death, taxes and failing to follow through on one's New Year resolutions. Perhaps a fourth truism is witnessed in financial markets each year: equity strategists are perennially bullish and collectively never call a recession. This glass-half-full view could be in part why equity investors are always last to leave the party as recessions materialize.
Book review: 'The Ambassadors' salutes those who do diplomacy's dirty jobs
After digesting Paul Richter’s “The Ambassadors,” the reader is left wondering why anyone would seek a career as an overseas representative of the U.S. The days are long, the living conditions primitive and the danger constant. And the efforts can be in vain. As Richter notes, foreign service veterans provide their bosses data and advice, to which “they might follow it and they might not.
Book review: 'All Blood Runs Red' salutes a life well-lived
I’VE YET TO read Margot Lee Shetterly’s “Hidden Figures,” but even before I learned of the story, I was intrigued by the title. Hidden figures. Readers of nonfiction will regularly stumble across vignettes and anecdotes of individuals who never received the recognition they deserved. Historians Phil Keith and Tom Clavin uncovered one while researching another subject (as is usually the case).
Book review: 'All Blood Runs Red' salutes a life well-lived
I’VE YET TO read Margot Lee Shetterly’s “Hidden Figures,” but even before I learned of the story, I was intrigued by the title. Hidden figures. Readers of nonfiction will regularly stumble across vignettes and anecdotes of individuals who never received the recognition they deserved. Historians Phil Keith and Tom Clavin uncovered one while researching another subject (as is usually the case).
Nationals section: Team's 'true' local fans never wavered on club's rags-to-riches season
With 162 regular-season games and a minimum of 11 playoff wins required by its champion, Major League Baseball tests the loyalty and patience of its fan base like no other professional sport. For that reason alone, die-hard fans of the Washington Nationals in the greater Fredericksburg area claimed vindication following the completion of the 2019 season. With every crucial loss, every key injury, every clubhouse rumor, the team tested the faith of its true believers.
Book Review: Banks' 'What Set Me Free' shows growth of a man, decline of a system
“THIS CAN’T BE happening.” For 10 years, this phrase regularly flashed in Brian Banks’ mind during his tortuous journey through the American legal system. It now flashes in the minds of readers who’ll learn in his autobiography, “What Set Me Free,” that this system doesn’t presume innocence. In 2002, the Californian was a 16-year-old high school student and a nationally recruited football player.
Book Review: Banks' 'What Set Me Free' shows growth of a man, decline of a system
“THIS CAN’T BE happening.” For 10 years, this phrase regularly flashed in Brian Banks’ mind during his tortuous journey through the American legal system. It now flashes in the minds of readers who’ll learn in his autobiography, “What Set Me Free,” that this system doesn’t presume innocence. In 2002, the Californian was a 16-year-old high school student and a nationally recruited football player.
Book review: David Brooks says it's time for a radical reboot for Americans
TO THOSE AMERICANS who reveled in our independence on the July 4th holiday, David Brooks offers a subtle retort: Freedom sucks. He actually says these words in his fifth book, “The Second Mountain,” but don’t let that red-white-and-blue hair stand up on the back of your neck. Brooks is targeting a different freedom, one Americans used to seek a self-centered, purposeless destiny unencumbered by communal ties.
Book review: David Brooks says it's time for a radical reboot for Americans
TO THOSE AMERICANS who reveled in our independence on the July 4th holiday, David Brooks offers a subtle retort: Freedom sucks. He actually says these words in his fifth book, “The Second Mountain,” but don’t let that red-white-and-blue hair stand up on the back of your neck. Brooks is targeting a different freedom, one Americans used to seek a self-centered, purposeless destiny unencumbered by communal ties.
Book review: 'And the Whole Mountain Burned' rewinds the clock
Ray McPadden’s “And The Whole Mountain Burned,” reminded this reviewer of an ominous statement a Taliban official gave a Newsweek magazine correspondent some years ago about the U.S. intervention into Afghanistan after 9/11: “You’ve [the Americans] got the watches,” the Taliban member was quoted. “We have the time.” What did he mean by that? Was it to suggest the Taliban were simply willing to hold out until Americans got frustrated and left, like previous invaders did?
Book review: 'And the Whole Mountain Burned' rewinds the clock
Ray McPadden’s “And The Whole Mountain Burned,” reminded this reviewer of an ominous statement a Taliban official gave a Newsweek magazine correspondent some years ago about the U.S. intervention into Afghanistan after 9/11: “You’ve [the Americans] got the watches,” the Taliban member was quoted. “We have the time.” What did he mean by that? Was it to suggest the Taliban were simply willing to hold out until Americans got frustrated and left, like previous invaders did?
Late cycle stage should alert the wary investor
Late cycle stage should alert the wary investor By Jeff Schulze Global equity indexes have sharply rebounded from the Christmas Eve lows and are nearly back to all-time highs. However, with economic data continuing to deteriorate, many investors remain confused about the path forward. Signs of global economic weakness could portend increased volatility in the near term, but any equity pullback is likely to be a long-term buying opportunity.
Book review: Writer shows lawman was enemy of the KKK, but also of the people
He had the bureaucratic acumen of J. Edgar Hoover, the sleuth of Elliott Ness, the bend-the-rules toughness of Wyatt Earp. But like these and perhaps other lawman, Hiram C. Whitley struggled to understand that moral character and clear thinking can be clouded by ideology and self-interest. As a result, he learned the hard way the ends does not always justify the means.
Book review: Writer shows lawman was enemy of the KKK, but also of the people
He had the bureaucratic acumen of J. Edgar Hoover, the sleuth of Elliott Ness, the bend-the-rules toughness of Wyatt Earp. But like these and perhaps other lawman, Hiram C. Whitley struggled to understand that moral character and clear thinking can be clouded by ideology and self-interest. As a result, he learned the hard way the ends does not always justify the means.
Book review: Examine the lives of three true statesmen in 'Heirs of the Founders'
CONGRESSMEN and senators get called many things these days (some of which can’t be printed in this newspaper), but rare is it for them to be referred to as statesmen, in the true sense of the word. That isn’t surprising, given that many federal legislators defend their votes as being representative of a core constituency, an ideology or a fringe movement that transcend state boundaries.
Book review: Examine the lives of three true statesmen in 'Heirs of the Founders'
CONGRESSMEN and senators get called many things these days (some of which can’t be printed in this newspaper), but rare is it for them to be referred to as statesmen, in the true sense of the word. That isn’t surprising, given that many federal legislators defend their votes as being representative of a core constituency, an ideology or a fringe movement that transcend state boundaries.
Book review: A view to a tank duel is a sight undesired
A picture is worth 1,000 words, someone once said. Sometimes, a thousand words or so are worth the picture. The picture in question—pictures, really—were taken by U.S. combat cameramen at the 1945 battle for Cologne, Germany, during World War II. The film documenting late-winter urban combat includes remarkable footage of a one-on-one tank duel: a German Mark V “Panther” being destroyed by an American T26E3 “Pershing.” (it’s available on YouTube).
Book review: "The Most Dangerous Branch: Inside the Supreme Court's Assault on the Constitution", by David A. Kaplan
“These are the times that try men’s souls,” Thomas Paine wrote in “The American Crisis” about the political troubles of the mid-1770s. The phrase could also be used 2½ centuries later in describing the current struggles.
Book review: "The Most Dangerous Branch: Inside the Supreme Court’s Assault on the Constitution", by David A. Kaplan
“These are the times that try men’s souls,” Thomas Paine wrote in “The American Crisis” about the political troubles of the mid-1770s. The phrase could also be used 2½ centuries later in describing the current struggles.
Book review: Writers show Capone, Ness couldn't measure up to their hype
IT’S HARD NOT to be mesmerized by the Chicago of the Roarin’ ’20s. We played cops and robbers as kids, we followed the “Dick Tracy” comics, we watched the “public enemies” movies featuring James Cagney and Edward G. Robinson.So it’s easy for us to frame Al Capone and Elliot Ness in the classical narrative of antagonists at polar extremes: evil vs. good, villain vs. hero, decadence vs. morality.If only the real story didn’t cloud our fictitious one.
Book review: Writers show Capone, Ness couldn't measure up to their hype
IT’S HARD NOT to be mesmerized by the Chicago of the Roarin’ ’20s. We played cops and robbers as kids, we followed the “Dick Tracy” comics, we watched the “public enemies” movies featuring James Cagney and Edward G. Robinson.So it’s easy for us to frame Al Capone and Elliot Ness in the classical narrative of antagonists at polar extremes: evil vs. good, villain vs. hero, decadence vs. morality.If only the real story didn’t cloud our fictitious one.
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