Mark Gongloff

Disney+ Is Still a Negative on Disney’s Books

The Underpants Gnomes are not a Walt Disney Co. property, but their money-making formula of “Collect Underpants + ??? = Profit” more or less exemplifies the entertainment giant’s plight right now. A year ago, Disney made bazillions of dollars cramming people into movie theaters, amusement parks,…

Judging Trump’s Term By the Numbers

Grading President Donald Trump on his term in office using traditional standards is sort of like grading kids for a semester in which Godzilla destroyed half the school. Also, the kids unleashed Godzilla. Still, we must try, if only for a sense of completion. Back in January 2017, when SARS…

Covid-19 Has Long-Term Effects on Health and Wealth

Many Covid-19 patients keep feeling sick for months after infection. Known as “long haulers,” there may be hundreds of thousands of such people in the US. But in a way, we’re all at risk of being pandemic long-haulers. The coronavirus and its obliteration of normalcy have led to a separate…

Vaccine Hope Doesn't Trump Bad Pandemic Management

Pandemic’s End Is Still a Ways Away Back in April, when there were still brook trout in the streams in the mountains, this newsletter compared America’s coronavirus experience to that of a child on a long trip asking “Are we there yet?” We’re closer today, but still not nearly close enough to…

How Much Do We Really Know About Bank Risks?

Hey, remember the financial crisis? Or what some of us now call “the Good Old Days?” When, sure, all the money was on fire, but you could at least hug your parents without fear of putting them in the hospital? One of the few upsides of the current nightmare relative to the previous one is that…

Coronavirus Exposes the Cracks in American Greatness

“America is the greatest country in the world” is a thing Americans often say. It’s increasingly difficult to remember why. I mean, sure, in some ways. The national parks are amazing. Nobody else has as many Trader Joe’s. And name another country whose flag makes such intimidating pants. But…

All the Ways Coronavirus Caught America Unprepared

Not long after the Sept. 11 attacks, Warren Buffett wrote the classic line, “You only find out who is swimming naked when the tide goes out.” In the current crisis, which is kind of like a 9/11 that never ends, we’re learning the entire country was naked. That we weren’t ready for a pandemic was…

The Road to Reopening the Economy Is Still Long

Last week, which was 84 years ago, we wrote the pandemic-gripped world is like that kid on the long car ride asking “Are we there yet?” The analogy was off by just a bit, at least in the US: Here, that impatient kid is actually driving the car. President Donald Trump has obviously been itching…

Turns Out $2 Trillion in Stimulus Isn’t Nearly Enough Stimulus

A decade ago, banks were the hot zones of the financial crisis. Today they’re being asked to help with coronavirus rescues, including funneling government-backed loan money to small businesses. But that’s turning out to be complicated and potentially thankless work, writes Matt Levine. No wonder…

Coronavirus Triggers the Worst Market Crash Since 1987

The coronavirus panic gripping markets, with US stocks falling the most since 1987’s Black Monday and threatening a new credit crisis, is being fueled by a global failure of leadership. Take President Donald Trump. He had a chance last night to reboot his handling of the rapidly unfolding virus…