Few corporate cautionary tales are as vivid as the rise and fall of Moderna Inc. During the pandemic, the company’s mRNA vaccine was approved and distributed in record time, saving millions of lives and turning a once-obscure startup into a $200 billion behemoth.

Now Moderna is in a tight spot: Hundreds of millions of dollars in grants for ...Read more

One of my most longstanding and controversial opinions is that the move from defined-benefit pensions to defined-contribution pensions was a success. It’s an especially unpopular view amid stories of retirees who fall through the cracks and a grim market that is pruning many retirement accounts, if not retirement dreams.

Nevertheless, my ...Read more

I recently went to the doctor about a minor health issue. “Is what I’m experiencing normal?” I asked her. “No, it’s never normal,” she said, “but it happens to almost everybody.” I thought: That pretty much sums up the problem of national debt.

After all, it’s been normal for America to run up the federal deficit since the ...Read more

If you’re looking for the most elegant way to wrap up our “little excursion” in Iran, it’s this: President Donald Trump should follow what might politely be called the “declare victory and head for the airport” strategy.

You know the drill: Announce that we’ve set back Iran’s nuclear programs a decade, pounded their navy into ...Read more

If the Trump administration’s misguided tariff policy has proved anything, it’s that corporate America can afford to pay higher tax rates without the disruptions that Republican devotees of supply-side economics always say are inevitable. This is an important lesson as the warnings over the country’s elevated debt and federal budget ...Read more

Americans are struggling to save any money at all, let alone enough for major bills like tuition, a home or retirement. A new government initiative has the right objective but the wrong solution.

“Trump accounts,” created in last year’s reconciliation bill, will become available on July 4. The aim is to encourage families to accrue ...Read more

LOS ANGELES — Ulises Menchaca idled in his pickup truck on a steep street in Silver Lake, late for work.

In front of him, activists were emerging from a tour bus to gather in front of the historic Paramour Estate.

Menchaca, a landscaper, had landed in the middle of a traffic jam sparked by Los Angeles' latest referendum on itself.

It was ...Read more

News broke earlier this week that Howard Schultz, the founder of Starbucks and a multibillionaire, is moving from his long-time home in Washington state to South Florida.

Schultz didn’t say the move was a response to Washington’s likely enactment soon of a 9.9% tax on income above $1 million, but the timing was hard to ignore. It’s become...Read more

As President Donald Trump’s administration wrestles with options in the war with Iran, it continues to consider “boots on the ground.” While the Pentagon has been doing a good job with the massive air and sea assaults against Iranian targets, there are several dangerous missions that ultimately would require US troops within Iran’s ...Read more

Spring has sprung on Leo Staples’ family farm in Oklahoma, and his Berkshire pigs couldn’t be happier about it.

Weighing in at about 550 pounds, Woody, his largest hog (named by a grandson after the“Toy Story” icon ) plays “like a puppy” in his free-range paddock, Staples told me, gobbling up the rye, clovers and winter peas that ...Read more

The U.S. war on Iran has exposed the mounting costs to President Donald Trump’s solo foreign policymaking, driven by whim and unchecked by strategic planning or competent advisers.

Apparently, the president never foresaw Iran’s willingness to absorb pain or the likelihood that the ayatollahs would close the Strait of Hormuz and send global ...Read more

This is what happens when antisemitism is institutionalized.

Thursday's attack on the Temple Israel synagogue in West Bloomfield Township, Michigan, reflects more than two years of building animosity in this country and worldwide toward Israel, and by extension, the Jewish people.

While officials have not formally called this a terror attack ...Read more

Democrats wouldn’t be trying so hard to embrace the American flag if they didn’t have something to prove to voters.

In the wake of the deadly coronavirus pandemic and George Floyd’s killing, many prominent figures on the political left — activists, commentators, politicians and scholars — have reexamined U.S. history, focusing on the ...Read more

Who hasn't had the experience of hearing some know-nothing proudly display his ignorance — whether in a bar, on a crowded plane or on Joe Rogan's podcast?

Increasingly, thanks to the explosive growth of prediction markets such as Kalshi and Polymarket, every misinformed or malinformed blowhard has an arena to capitalize on his or her ...Read more

Democrats are increasingly turning their sights on Secretary of State Marco Rubio – belittling everything from his shoes to his leadership of President Donald Trump’s foreign policy – as they gear up for a White House battle in 2028.

Rubio is now seen as the leading contender to succeed Trump – besting Democrat Gavin Newsom and even GOP...Read more

President Donald Trump was uncommonly lucky in his first term, neither inheriting nor provoking a crisis of the sort that tests U.S. presidents, until COVID struck in his final 10 months. (He failed that test, contributing to his 2020 reelection defeat.) Trump 1.0 was bequeathed a growing economy from President Barack Obama, and the incoming ...Read more

The 7th Circuit Court of Appeals decision last week to vacate an order, from an already dismissed lawsuit limiting the Department of Homeland Security’s tactics against journalists and protesters, is a misuse of judicial power.

If the appellate court insists on granting relief no one asks for, it has far better targets than an injunction ...Read more

An antiquated 105-year-old American law threatens to exacerbate the energy shocks triggered by the Iran war. President Donald Trump should urge Congress to reform or get rid of it.

Energy markets remained volatile Wednesday, but the price of oil now sits well below the $120 a barrel it briefly hit Monday. Gasoline prices continue to be elevated...Read more

Anyone tuning into the State of the Union expecting responsible governance was sorely disappointed. What they got instead was pure Trumpian spectacle.

All the familiar elements were there: extended applause lines, culture-war provocation, even self-congratulation, praising the U.S. hockey team and folding its victory into a broader narrative of...Read more

I won’t let St. Patrick’s Day pass without wearing something green and reaching for a glass of something that has been produced through fermentation or distillation. It is the least I can do for all the ways the Irish have enriched the world, but especially the English language, and me.

When it comes to writing, the Irish have what might be...Read more