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NFL

Culture/Economics

What Derek Carr’s Contract Teaches Us About Wall Street And Income Inequality

Derek Carr has just signed the most lucrative deal in NFL history, receiving a five-year extension worth $125 million with the soon-to-be Las Vegas Raiders. At $25 million per year, Carr edges out Indianapolis Colts quarterback Andrew Luck (though Luck’s contract did reward him with over twice as much in guaranteed money). Carr also becomes a big winner in the Raiders’ taxpayer-funded escape from Oakland, with his contract scheduled so most of the money kicks in after the franchise moves to income-tax-free Nevada. While the structure of Carr’s contract offers another opportunity to discuss the “jock tax,” it also serves to illustrate a more important issue: why Wall Street wins whenever the Fed expands the monetary supply. Keep Reading

Culture/Politics

Celebs “Speaking Out” Will Destroy Their Ratings

Meryl Streep took to the stage at the Golden Globes Award ceremony Sunday night to slam President-elect Donald Trump for his mocking a disabled reporter back in the fall of 2015. Trump predictively logged on Twitter later that night and called Streep an, “over-rated Hillary flunky.” This comes after top Hollywood celebs produced a plethora of pro-Clinton propaganda and called Trump out explicitly on stage plenty of times. Celebrities aren’t just hurting Democrats by politicizing entertainment—they are diminishing themselves. Celebrities making political statements is nothing new. In fact, President Ronald Reagan was an active promoter of conservative and free-market principles during his stint as spokesman for General Electric and president of the Screen Actors Guild. According to Thomas Sowell, however, Reagan had intently studied the issues before making any political statements. Keep Reading

Culture/Philosophy/Politics

Praise The Lord And Pass The Ammunition

The Pledge of Allegiance and Standing for the National Anthem are necessary and wholesome public rituals. We celebrate the house that shelters us, even as we strive to repair and restore it. I live in a very beautiful place with a fair amount of history attached to it, so when I had the opportunity to turn down both CBS and the NFL for a commercial shoot yesterday, it felt good. We received a breezy email from the CBS pre-production office outlining their 49ers / NFL promotion as follows: In 1849 there was a gold rush and people flocked to the west to strike it rich….100 years later, there was another gold rush when air travel enabled football teams to travel and play across the country…. Thanks so much! They wanted to use our farm, and our living history programs, to add a little Americana gold rush glow (and vintage gravitas) to their contemporary relationship with the NFL. We would provide the gold pans, the sluice box, and the bewhiskered… Keep Reading

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