Wondering on Wednesday 4/3/24

Ready... Set... Wonder!

I saw an article in The Week about 'passive investing' - using index funds to do the work for you, or for your 401(k). The Week, if you aren't familiar with it, presents news items with multiple viewpoints from different media outlets. Here's a bit of the piece on index funds, with my emphasis added.

A market doesn’t work if everyone just “sits back and watches their money grow,” said Katie Martin in the Financial Times. It sounds “a little snobbish” to rail against passive investing, “which has unlocked wealth for millions of people who otherwise might not be active in financial markets at all.” But several recent studies have found that indexed stocks have begun to “show lower sensitivity” even to major economic shocks than their non-indexed counterparts. That turns investing from a process of “seeking out, rewarding, and profiting from successful companies” to a “circular bet” on more money flowing into the market.

The article came out before Trump Media and Technology Group (DJT on the Nasdaq)  went public with a value of some $8B, even though the company has ridiculously poor financial performance.

Is this the kind of company you'd 'seek out and reward,' I wonder?

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Perhaps as many as half a million folks in California got a raise this week, as the minimum wage for most fast-food workers - and only those workers - increased from $16/hour to $20/hour. The raise stems from a bill signed by Gov. Gavin Newsom last fall, and comes a few weeks after workers formed the California Fast Food Workers Union.

Generally, I'm not a fan of politicians singling out a category of workers and changing their minimum wage without adjusting the minimum wages for other low-paid workers, but I don't wonder why politicians do it.

What I do wonder is why so many people think it's OK for the government to make a random distinction between a fast-food worker and a day-care worker, a home health aide, or a janitorial staffer. And I wonder why, when the politicians do this for some but not for all, people are so comfortable telling the other workers to 'just go ask for a raise,' or 'organize and fight for themselves.'

And, of course, I wonder how the pols come up with the convoluted rules they apply. This law applies to "restaurants offering limited or no table service and which are part of a national chain with at least 60 establishments nationwide. Restaurants operating inside a grocery establishment are exempt, as are restaurants producing and selling bread as a stand-alone menu item."  

A shoutout to anyone who can make this make sense. I sure can't.

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This one has me scratching my head with wonder. I was not aware that there's a thing out in the Interwebs asking, "Who actually eats at Arby's?" And, until this morning when I saw this article that Arby's is going to give "skeptics" four free sandwiches this month, to try and convince them how good the food is. According to the company's Chief Marketing Officer, the chain is "putting our money where our mouth is," and that April is

the perfect opportunity for any skeptics out there to try any of the sandwiches they've been eyeing.

There's just one catch: the 'skeptics' who have been "eyeing" the sandwiches have to be enrolled in the company's rewards program to get the free sandwiches. Call me skeptical, but I wonder how many of the free sammies are going to go to existing rewards members, not to new customers?

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It seems 'the right' found itself in a bit of a snit over Easter Sunday. It seems that 'the left' has attacked Easter with the same zeal as it fights the war on Christmas. First, President Biden dared recognize the annual Transgender Day of Visibility, celebrated annually on March 31st. That's a bad thing, it would appear, when Easter also falls on March 31st - at least according to House Speaker Mike Johnson and the other usual suspects. But that's only half of the problem. 

The other issue? A ban on religious Easter eggs at the Biden White House. I kid you not.

...guidelines for the contest in which kids submit decorated eggs for a White House display specify that the art "must not include any questionable content, religious symbols, overtly religious themes, or partisan political statements. 

There's only one problem: the guidelines don't belong to 'the left' and they don't come from the Bidens. They come from the American Egg Board, which has had the same rules since the 70s. And that means former president Donald Trump attacked Easter using one of the exact same weapons as President Biden used.

So, what am I wondering here? With all the effort 'the right' puts into manufacturing wars by 'the left' against Christian holidays, I wonder why they don't put even one iota of effort into attacking the very un-Christian, unreligious, unpleasant, unpatriotic Easter 'truth' posted by their fearless leader. 

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Louisiana Gov. Jeff Landry (R-MAGA) is unhappy that LSU's women's basketball team wasn't on the floor for the playing of our country's National Anthem (not to be confused with "America's most recognized patriotic anthem," Lee Greenwood's God Bless the USA) at their Elite Eight appearance in Albany on Sunday. 

So unhappy, in fact, that he wants the state's Board of Regents to create a policy requiring student-athletes "be present for the National Anthem or lose their scholarships." He even managed to bring his mother into the mix with his tweet on the subject, which said, in part,

My mother coached women's high school basketball during the height of desegregation, no one has a greater respect for the sport and for Coach Mulkey. However, above respect for the game is a deeper respect for those that serve to protect us and unite us under one flag !

Landry apparently doesn't know that college athletes in his state, and others, typically aren't on the court or field for the anthem, which is played several minutes before the game starts. And he apparently doesn't know that they haven't been, for many years. And he apparently doesn't know that the Regents have nothing to do with scholarships. 

It kind of makes me wonder whether he gave this whole thing any thought at all, or if he just shoots from the lip like the guy who endorsed him for governor.

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Oh - in case you're wondering, here's the current status of the GoFundMe to raise money to help the former president pay his judgments. I'll continue to report on this each week, but for now, it looks like it's gonna take a while.

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What's on your wondering mind tonight?