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Government Spending Is Out of Control! LOL

The Big Picture

Let’s delve into a case in point of Coase’s theorem: If you wanted to peddle the narrative that government spending is out of control, you might present a chart like the one above, which is an exact replica of a chart that appeared recently in a piece of research from a major Wall St. investment firm. How can this be?

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10 Sunday Reads

The Big Picture

But the more likely outcome, if present trends continue, is a party system so fractured that forming a coherent and stable government becomes nearly impossible. From out of the resulting chaos, it could become impossible to prevent one of the radical anti-system parties, including the AfD, from joining a governing coalition.

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How to Determine the Governing Law of a Trust

Wealth Management

Examining the three domains of construction, validity and administration.

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Celebrity Estates: The National Football League and Lessons in Family Dynamics and Governance

Wealth Management

Wilmington Trust's Alvina Lo delves into the complexities of NFL team ownership.

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MBA: Mortgage Applications Increase in Latest MBA Weekly Survey

Calculated Risk

Refinance activity was at its fastest pace since October 2024, as conventional refinance applications rose 34 percent and government refinance applications increased by 42 percent over the week. The move in government refinances was driven by a 75 percent increase in VA loans, which have been prone to large changes in recent months.

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“How Much More Will I Get?”: Calculating The Impact Of WEP And GPO’s Repeal On Social Security Benefits

Nerd's Eye View

When the Social Security Fairness Act was signed into law on January 5, 2025, it came as a relief to many recipients of state or local government pensions whose Social Security benefits had been, up until now, reduced by the Windfall Elimination Provision (WEP) for individuals claiming retirement benefits under their own name, or the Government Pension (..)

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Q4 GDP Growth Unrevised at 2.3% Annual Rate

Calculated Risk

The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. Real GDP was revised up by less than 0.1