Gay Pride

The Gay Pride parade was this past week end in Chicago. It’s getting bigger. The parade has become an event that gawkers come to and see crazy costumes. It’s become an excuse to get plastered. Last year, I was on …

CNBC This morning Monday June 28

Keynesian stimulus doesn’t work. Steve Liesman and the rest of the Keynesians hang on to the fallacy that government spending by itself can lift economic development. The multiplier effect of government spending is 0 or very close to zero. The …

Gun Law in Chicago Overturned

The Supreme Court ruled against the City of Chicago today over it’s gun law. Chicago bans all guns. Chicago has an extremely high murder rate. Only the bad guys have the guns. Unfortunately, there aren’t really any unbiased studies or …

Senator Robert Byrd, RIP; Fin Reg RIP???

Senator Robert Byrd passed away at 92. Rest in peace. The real issue is the Fin Reg bill. Is it dead? People will debate it, but if the governor of West Virginia acts quickly enough it won’t be an issue. …

Sox – Cubs Cubs still breaking hearts 41 years later.

My father grew up one block away from Comiskey.  I have always been a baseball fanatic.  It was tough being a Sox fan as a kid.  In 1969 the Cubs broke my heart.  My dad told me that year, if …

The Crash of 1987…Addictions & Miracles

Getting off the beaten path, the past couple of weeks I have told “Crash of 87” stories.  These have been the sort of stories that would make the nine-to-fiver a bit envious.  Believe me when I say, all this joy …

Why Does Obama Ditch the WH Press Corps? (G20)

Don’t get why Obama gets a pass from the left for ditching the White House press corps. This has happened twice. I empathize with him that the press is terribly intrusive, and having it there constantly mist bug him, but …

The Crash of 1987…My Story by Tony LaPorta (TLP)

I wrote this story in 2006, but lived it in 1987. Getting off the beaten path, this week passed marked the 19th anniversary of the stock market Crash of 87.  If you were a trader during the Crash, you have …

John Maynard Keynes RIP

Stick a fork in him, he’s done.  The WSJ today has a nice article on Keynes theory and its failure worldwide. Liberals really missed the boat on why they took power in 2006.  It wasn’t the war stupid, it was …

Cubs vs White Sox

The rivalry is alive again, sort of.  The Cubs really stink this year.  I thought the White Sox would win the World Series this year after they picked up Juan Pierre. He isn’t Rickey Henderson, but he is a damn …

Lawmakers agree to Screw Up Financial World Again

They agree. Yesterday in the WSJ, former SEC chair Arthur Levitt, and hard core Democrat, listed the reasons he felt that this bill was horrible. I agree with him but for different reasons. We both agree that Fannie and Freddie …

Cape Town, South Africa 1988 My Story by Tony LaPorta

Getting off the beaten path, after one night’s stay in a  Johannesburg hotel, my next destination was Cape Town…a two-hour flight.  First I need to work backwards.  In all my travels as a single man, I never had a hotel reservation.  I …

Johannesburg, South Africa 1988 My Story by Tony LaPorta

Getting off the beaten path, In March 1988 I had the good fortune to spend three weeks in South Africa.  Two of those weeks were spent in Johannesburg and one in Cape Town.  Apartheid was alive and well.  Nelson Mandela was …

Would You Like Spam With that Fine Bordeaux?

Wine is an experience good – it is very difficult to assess quality without actually trying the good yourself. For such products expert ratings can play an important role in guiding our purchases. I recently had occasion to compare ratings …

Football/Soccer/An Expats Story From the Hooligan Years…Part 2

This is part 2 to the soccer story I wrote earlier this week.  Last week we were in Manchester, England collecting my friend Nigel from the hospital.  Five days later, we are at home for a London derby…Chelsea versus West …

Innovation & Cities

Will the Internet mean that cities decline in importance? Almost certainly not; they have many economic benefits still. One is in spurring innovation. Economists have long recognized that an important positive externality is knowledge spillovers. Exchange of new ideas, and …

Death of a Trader

Void. Disbelief. Nothingness. Just heard an old trader buddy of mine took his own life. It has happened more than enough times in my trading career than I care to talk about. I have been at the CME since May …

Football/Soccer/An Expats Story From the Hooligan Years…Part 1

In 1982, at the age of 26 I arrived in London, England to work on The London International Financial Futures Exchange (LIFFE). It was a brand new exchange, shall we say a mini Chicago Board of Trade.  LIFFE was located in the …