Help When Thinking About the Disney Business

 by Ray Keating

Analysis

DisneyBizJournal.com

February 27, 2024

 

As an economist, I’m attuned to how CEOs, managers, analysts, and elected officials talk about a business, an industry and the economy. That tendency obviously gets particularly focused on The Walt Disney Company in my role as a columnist for and publisher of DisneyBizJournal.com, not to mention as host of the “Daily Dose of Disney” podcast.

 

As a result, I often hear views that sound authoritative but have little basis in sound economics. That seems to most often be the case when politicians decide to speak out on business and the economy.

So, one of my vocations in life is to help people think more clearly about economics and how the economy works. This mission is executed, in part, in my Weekly Economist series. The Weekly Economist III: Another 52 Quick Reads to Help You Think Like an Economist has just been published, and it follows on The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. and The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist.

 

Why does this matter? Well, the answer is straightforward. As I note in The Weekly Economist III, “Get the economics wrong and things usually don’t turn out so well… Get the economics right, and while life will not be perfect, it will be better.” That’s the case from decisions made for particular businesses to decisions by policymakers that affect much of the economy.

 

In recent years, for example, Disney fans have been witness to questionable or controversial decisions made by company CEOs, as well as leading politicians, that have impacted the well-being of the Disney company. And too often, we hear views on such matters that also are unrelated to how business and the economy actually work.

 

It’s my hope that people following Disney, doing business with Disney or related to Disney, or simply ranking as fans of the House of Mouse can benefit from reading the latest Weekly Economist book, as well as the first two books in the series.

 

For example, those interested in Disney should find value in reading essays in The Weekly Economist III that explain the “10 C’s” of capitalism, cover top worries and positives looking ahead for the economy, address the tight labor market, examine intellectual property investment, and deal with trade and subsidies.

 

Likewise, in The Weekly Economist II, Disney aficionados should find insights in chapters touching on innovation vs. regulation, corporate welfare, inflation, interest rates, labor unions, corporations, stock buybacks, and corporate social responsibility.

 

And in The Weekly Economist, Disney-interested readers should appreciate chapters on the role of profits, policies for growth, Wall Street and Main Street, the stock market, shorting stocks, the business cycle, automation, advertising, bankruptcy, and supply chains.

 

By the way, there are chapters covering aspects of entrepreneurship in all three books, and the points made there line up with many of the views held by Walt Disney on entrepreneurship. And why not? After all, Walt was one of the great entrepreneurs of the 20th century.

 

Getting back to why getting our thinking clear on economics matters, as I write in The Weekly Economist III, “If you’re concerned about raising incomes and reducing poverty, the overall quality of life, and expanding opportunity, for example, then you should care about sound economic thinking on all kinds of issues. It’s important to put aside mistaken assumptions, and get to economic reality. That’s why I became an economist in the first place, that is, it became clear to me that if we got our economics clear, then we could improve decision-making on many different fronts, from investment to management to public policymaking, with beneficial results for everyone.”

 

I hope you agree, and enjoy the Weekly Economist books.

 

By the way, get paperbacks and Kindle editions of each book right here, and all three signed books here.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com; and author of the Pastor Stephen Grant thrillers and mysteries, the Alliance of Saint Michael novels, and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

• Order The Weekly Economist III: Another 52 Quick Reads to Help You Think Like an Economist.Signed books here and Kindle and paperback editions here.

 

• Order The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. Signed books here.  And Kindle and paperback editions here.

 

• The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist. Signed paperbacks at RayKeatingOnline.com or paperbacks, hardcovers and Kindle editions at Amazon.com.

 

The Disney Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement and fun for Disney fans, including those who love Mickey, Marvel, Star Wars, Indiana Jones, Pixar, princesses and more.

 

Consider other books by Ray Keating, including…

 

• The Pastor Stephen Grant thrillers and mysteries. There are 19 books in the series now.

 

• Cathedral: An Alliance of Saint Michael Novel is at Amazon. 

 

• The Lutheran Planner: The TO DO List Solution combines a simple, powerful system for getting things done with encouragement, inspiration and consolation from the Christian faith.

 

• Signed editions of Ray’s books are at www.raykeatingbooksandmore.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

“The Weekly Economist II” Provides a Much-Needed Antidote to Bad Thinking on the Economy

 Ray Keating’s Second Book in Series Offers More Quick Reads on Topics and Questions Related to Economics and Business

Ray Keating, editor and publisher of DisneyBizJournal.com and a leading economist on small business and entrepreneurship, has written a new book titled The Weekly Economist II: 52 More Quick Reads to Help You Think Like an Economist. This is the second book in an ongoing series, with the first being The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist.

 

When listening to talking heads or politicians, people are legitimately bewildered about how the economy actually works and how to think about critical issues. The Weekly Economist and now The Weekly Economist II offer quick reads on topics essential to thinking clearly on economics and business, and for assessing the often wild assertions heard from politicians on such matters.

 

Ray Keating notes, “There’s a great deal of misguided and misleading talk about the economy, business, and public policies. Applying sound economic thinking to such matters is critical for our country and the world. With the second book in The Weekly Economist series, I’m hoping that people will take at least a few minutes each week to read these short essays, and by doing so, become a light for clear-eyed thinking of matters critical to economic growth and our quality of life.”

 

The Weekly Economist and now The Weekly Economist II hold appeal for a general readership looking to become more informed citizens. And they’re ideal for the classroom, boardroom and workplace.

 

Praise for The Weekly Economist II…

 

"An accessible, wide-ranging compendium. Keating remains remarkably impartial here, offering fair critiques and reasonable assessments of economic decisions, theories, and policies across time. This is an impressive second installment of the author's economics essays, avoiding repetition from the first collection, and offering cogent advice that feels more timely than ever."  - Self-Publishing Review, ★★★★

 

Praise for The Weekly Economist…

 

“Reading Mr. Keating's new book is worth more than a degree in economics from most universities. Sensible and accessible, The Weekly Economist is a veritable catechism of how to think economically.” - Fr. Robert Sirico, author of The Economics of the Parables and President Emeritus of the Acton Institute

“If you want a quick and accurate insight into the major topics in economics, and if you have little or no background in economics, Ray Keating's The Weekly Economist is the book for you. Turn to any page and you'll find tight clear reasoning that will help you understand the complicated economic reality around you.” - David R. Henderson, editor, The Concise Encyclopedia of Economics
  

“For those who are curious about economics but who may not be interested in tackling a dry 300-page economics textbook, Ray Keating provides a brilliant alternative - a weekly breakdown of 52 economic concepts everyone should be familiar with. Although designed to give one easily digestible theme a week, many readers will undoubtedly want to binge-read to see which topics are their favorites. Great information for those new to economics or as a weekly refresher.” - Bryan Riley, Director, National Taxpayers Union Free Trade Initiative

“a lively primer” - Gene Veith, Cranach: The Blog of Veith, and author of God at Work: Your Christian Vocation in All of Life

 

“An accessible and comprehensive guide to concepts that regularly baffle the average person. This book runs the gamut when it comes to economic issues, and will invariably help readers think more critically about the financial machinery that runs the world. Keating makes a subject as potentially dry as economics into something dynamic and interesting. A natural storyteller, he carefully dissects an intimidating sphere of modern existence into a book that nearly anyone could learn from and enjoy.” - Self-Publishing Review, ★★★★

Paperbacks and Kindle editions of The Weekly Economist and The Weekly Economist II are available at Amazon.com, and signed books at www.RayKeatingOnline.com. 

 

Review copies, and author interviews and appearances are available upon request. 

 

Additional praise for Ray Keating’s work…

 

“Keating is at his best when tackling the issue that introduced him to the world of conservative thought: the benefits of the free market.”  - Kirkus Reviews

 

“Keating is no sour-puss conservative... Keating’s pro-growth agenda of dramatic supply-side tax and regulatory cuts, school choice, and much smaller government stands as New York’s only chance at rebirth.”  - Steve Forbes

 

Ray Keating's “take on the economy is unabashedly supply-side, offering a clear understanding that risk taking and entrepreneurship are the engines of economic growth.” - Jack Kemp

 

“A common-sense explanation of why politicians and bureaucrats shouldn't throw sand in the gears of global trade.” - Dan Mitchell, Chairman, Center for Freedom and Prosperity, about Free Trade Rocks! by Ray Keating

 

Contact: Ray Keating

E-mail: raykeating@keatingreports.com

Facebook: www.facebook.com/freeenterpriseeconomics

Twitter: @FreeEnterprise7

RayKeatingOnline.com

Pre-Order the New Book by Disney Biz Journal's Ray Keating

 Pre-Order Ray Keating’s New Book Today – The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist – Signed by the Author – Pre-Order Here! Go to https://raykeatingonline.com/products/weeklyeconomist

 

If you don’t have a degree in economics, how do you figure out what actually makes economic sense and what doesn’t? Ray Keating, a leading economist on small business and entrepreneurship, offers help with a new book titled The Weekly Economist: 52 Quick Reads to Help You Think Like an Economist.

 

Whether via CNBC, CNN, FOX, websites, or other outlets, many assertions regarding the economy and economic policy are presented that leave people wondering what’s accurate and what’s not. That’s especially the case when declarations by one talking head are conflicted by the next one. The Weekly Economist offers quick reads on topics essential to thinking clearly on economics, or apply sound economic principles to hot topics.

 

Ray Keating writes, “Yes, economics and thinking more like an economist matter. It is my hope that individuals, by taking just a few minutes for a quick read each week, can clarify their thinking on economics, and thereby, improve their own lives, and the lives of family, friends, colleagues, neighbors, as well as people across the nation and around the world."

 

Praise for Ray Keating’s work…

 

“Keating is at his best when tackling the issue that introduced him to the world of conservative thought: the benefits of the free market.”  - Kirkus Reviews

 

“Keating is no sour-puss conservative... Keating’s pro-growth agenda of dramatic supply-side tax and regulatory cuts, school choice, and much smaller government stands as New York’s only chance at rebirth.”  - Steve Forbes

 

Ray Keating's "take on the economy is unabashedly supply-side, offering a clear understanding that risk taking and entrepreneurship are the engines of economic growth.” - Jack Kemp

 

DisneylandForward for the Entire Economy

 by Ray Keating

Commentary

DisneyBizJournal.com

March 26, 2021

(This piece originally was published at KeatingFiles.com) 

 

Whenever a large company pitches government on a proposal that’s supposed to help that firm and the economy in general, this economist’s free-market radar goes up. After all, most of the time, such proposals involve a business looking for taxpayer handouts, but trying to dress up such welfare as being great for everybody, including the taxpayers footing the bill.

That’s why the Walt Disney Company’s new pitch to the City of Anaheim – called  DisneylandForward – to expand, well, Disneyland is so refreshing. It also should serve as a template for policymaking related to entrepreneurs, businesses, their employees, and investors, as we all work to climb out of this pandemic mess.

 

Disney is not looking for any kind of government aid, subsidies, or handouts in this proposal. In fact, in its various materials on the undertaking, the company explicitly declared: “To be clear, Disney is not seeking any public funding for DisneylandForward, nor are we seeking additional square footage or hotel rooms beyond what is currently approved and allowed.”

 

This is music to the ears of this economist. Please, tell me more!

 

Instead of seeking handouts, Disney is looking for Anaheim to be more flexible in terms of how it regulates the company. Specifically, Disney is looking for flexibility in terms of zoning regulations so that the company can move ahead and make investments in expansion that will serve new and current customers, boost the region’s economy, and create jobs. Disney is beginning a process of explaining and illustrating to Anaheim that a shift in its zoning from traditional, specific-use approval to zoning that allows for increased flexibility and integration in terms of uses – such as allowing a hotel, restaurants, attractions and entertainment in one area or facility, as opposed to just one of those options – not only makes sense for Disney and its business, but how the House of Mouse ties in with the rest of the regional economy and beyond.

 

Disney pointed out, “While Disney has the development rights and the desire to continue investing in Anaheim, the space to develop integrated offerings is severely limited. Without broadening the uses allowed within each district or demolishing and replacing many beloved theme park attractions, further integrated development and theme park investment are not possible.”

 

I’m always frustrated when government stakes out overtly hostile stances against entrepreneurs, businesses and investors. Such misguided actions spring from failures to grasp how the economy and business work; and how growth, wealth and jobs are created; as well as political philosophies rooted in fantasy, and/or politics built on cynicism and special-interest favors. And then there are businesses that seek government handouts, which only serves to gin up further hostility toward business. So, I wonder if the vast costs of the pandemic might change things, at least somewhat. 

 

Disney put its DisneylandForward effort in the proper context of what we have been suffering through for the past year-plus:

 

“While no one could have predicted just how far-reaching the job loss and economic impacts would be as a result of the COVID-19 pandemic, we know this past year has been incredibly difficult. It has taken a major toll on our cast, The Anaheim Resort, Anaheim residents and families, Orange County, and California. But, with time, we will recover, and we’ll do it together. We believe in the future of this great city, and we are ready to join hands as even stronger partners. With continued investment, we can make an even larger impact on short-term recovery, enhance long-term growth, and help address some of Anaheim’s more difficult problems in the future.”

 

Again, how will we recover and grow? Not via government subsidies. Not by some big governmental undertakings with commensurate tax and regulatory costs. Not thanks to the us-vs.-them mentality that dominates too much of our public discourse and manifests itself in public policies. Instead, it will be accomplished by government thinking clearly and providing flexibility – dare I say: providing relief? – from burdens that make no sense, and only serve to raise the costs of or block productive, private-sector investment. In turn, entrepreneurs and businesses, including Disney, will be better able to make growth-generating investments.

 

Let’s call it the DisneylandForward agenda for Anaheim, for California, for other states and for the nation: No subsidies. Provide flexibility and relief from government regulations and other actions that make no sense. And thereby, free up the private sector to invest, innovate and drive economic, income and job growth.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the  Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Keating has two new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13ththriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. 

 

You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York  from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. 

 

Please support the efforts of DisneyBizJournal.com to bring news, analysis and commentary on Disney to readers such as yourself. Make a contribution right here via PayPal. Thanks!

 

Disney and the Economy: Uncertainty and a Call for Walt’s Realistic Optimism

by Ray Keating

Analysis

DisneyBizJournal.com

June 7, 2020

The current economy serves up another call for Walt Disney’s realistic optimism – at least, over the longer haul.

My favorite quote from Walt (as I’ve written before) is: “I always like to look on the optimistic side of life, but I am realistic enough to know that life is a complex matter.” Indeed, while many people emphasize Walt as a dreamer – which he was – when you look at what he accomplished in life, Walt Disney was a realistic optimist. 

I try to be the same way. Some might scratch their heads, but it was a realistic optimism that led me to becoming an economist. How does that work – isn’t economics the dismal science? Actually, no (see my Free Enterprise in Three Minutes Podcast episode titled “Economics? Not Dismal, But Rather Exciting.”) To sum up very quickly, seeing the astounding results of the free enterprise system (in terms of wealth creation, income and job growth, alleviation of poverty, improved quality of life, and so on) should fuel optimism. Walt Disney, again, shared optimism in this area, as he once expressed in talking about his plans for Walt Disney World: “But if we can bring together the technical know-how of American industry and the creative imagination of the Disney organization – I’m confident we can create right here in Disney World a showcase to the world of the American free enterprise system.”

Meanwhile understanding how free enterprise works provides grounding in realism, given, for example, wrongheaded governmental policies that can undercut free enterprise. Of course, a pandemic combined with governmental decisions to shut down large parts of our economy to try to limit the spread of and deaths related to COVID-19 makes for a recipe meant to uncut free-enterprise optimism.

Few have been immune from the negative economic fallout. Indeed, it has been breathtaking. And The Walt Disney Company, and its shareholders, employees and customers certainly have been hit.

Consider, for example, that Disney’s stock price had reached a high of $151.64 on November 26, 2019, and then it traveled on a relatively slow downward path to $140.37 on February 19, 2020. But then the COVID-19 news fully walloped Disney and the market in general. By March 20, the Disney stock price had fallen to $85.76. Uncertainty became the rule of the day in terms of the coronavirus, its health and economic impact, and the governmental policies imposed in response. 

But since that March 20 recent low, Disney’s share price has risen, closing at $124.82 on Friday, June 5. Investors started to gain more information, and begin the process of looking beyond the immediate crisis.

On Disney specifics, back on March 18 (“Don’t Expect Disney Parks To Open Anytime Soon”), DisneyBizJournal.com noted that the economy already was in recession, and answered the unmoored optimists by pointing out that expecting Disney to reopen their domestic parks before “mid-May or even June” was, well, unrealistic. And on May 27, Disney announced the start of phased reopenings for Magic Kingdom and Animal Kingdom starting on July 11, and EPCOT and Hollywood Studios on July 15. And we still have no word from Disney on a reopening date for Disneyland in California.

Just like other businesses, Disney has been dealing with the two overarching factors that still contain significant degrees of uncertainty – the coronavirus and the state of the economy.

On the COVID-19 front, for example, the John Hopkins Coronavirus Resource Center reported on June 7 that total coronavirus deaths in the U.S. have hit 110,037. Additionally, coronavirus cases are on the rise in Florida. Yesterday (June 6), TCPalm.com reported:

“There were 1,270 new cases of COVID-19 announced by the Florida Department of Health Saturday morning, the fourth day of four-digit increases. Thursday's report of 1,419 new cases was the largest single-day increase of confirmed COVID-19 cases since the pandemic began. There are now 62,758 confirmed COVID-19 cases in the state. The number of reported deaths increased to 2,688, an increase of 28 since Friday.”

As for the economy, the news, as expected, has been grim, according to a variety of government reports over the past week or so. For example, trade from February to April plunged, with U.S. exports down by 28.6 percent and imports by 18.6 percent. Over the same period, U.S. wages and salaries declined by 12.7 percent, and proprietors’ income (i.e., small business sole proprietors and partnerships) plummeted by 19.5 percent. During the first quarter of this year, real GDP (gross domestic product) plunged by 5 percent – the second largest decline over the past 38 years. 

For good measure, while assorted people – including market investors – were excited about the employment report for May (released on Friday, June 5) showing a gain of 2.5 million to 3.8 million jobs, that must be put in context of having lost more than 25 million jobs from February to April. In addition, the May data are subject to classification errors, and therefore, the unemployment rate actually was “about 3 percentage points higher than reported,” according to the U.S. Bureau of Labor Statistics. That’s roughly an additional 4.7 million unemployed people, on top of the 21 million reported for May.

The question remains: When will the recovery start, and what will it look like? Little reason exists to bet on the U.S. economy quickly getting back to where it was before – a so-called V-shaped recovery – and then getting about the business of expansion. However, barring a reacceleration in pandemic challenges and anti-growth economic policymaking (arguably the biggest threat down the road), the U.S. economy will get back on a growth path, eventually climbing back to where we were in terms of jobs and output prior to the pandemic, and then moving beyond. It’s not a question of “if,” but it’s definitely a question of “when.”

For Disney, therefore, uncertainty will persist across most of its portfolio of businesses, including theme parks, hotels and restaurants; movies; and cruise lines. So, yes, there remains a reason why the Disney stock price, while recovering some recently, still has not returned to where it was in late November.

Once again, we need to consider Walt Disney’s quote – “I always like to look on the optimistic side of life, but I am realistic enough to know that life is a complex matter.” It’s as if Walt is reaching out from the past to give us some sage advice for today. 

__________

See related...

“Disney World Gets Official Go Ahead to Open, But Disney Has Cancelled Your Dining Plans and More”

“Disney Announces Reopening Dates for Walt Disney World”

“Disney Earnings Decline, Halts Dividend, Experiences Disney+ Gains, and Announces Re-Opening for Shanghai Park”

“Don’t Expect Disney Parks To Open Anytime Soon”

See recent...

“Disney and Its Brand Face Increasing Uncertainty in China”

“A Little Something to Distract You From the Disney News Bomb”

“Disney World Gets Official Go Ahead to Open, But Disney Has Cancelled Your Dining Plans and More”

“Disney Announces Reopening Dates for Walt Disney World”

See notable...

“Theme Parks: Pandemic, Disney and the Little Guys”

__________

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of The Disney Planner 2020: The TO DO List Solution (now available at a deep discount) and the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

Get the paperback or Kindle edition of Ray Keating’s new book Behind Enemy Lines: Conservative Communiques from Left-Wing New York.

Disney and the Economy: Downside Concerns

by Ray Keating

News/Analysis

DisneyBizJournal.com

January 31, 2020

The Walt Disney Company cuts across industries, covering retail, travel, theme parks, movies, television, online streaming, and more, not to mention being a global enterprise. So, this diversified company can seize on assorted opportunities and benefits when U.S. and global growth are strong. And while Disney also has considerable exposure to economic woes and uncertainties, industry and regional diversification can aid the firm in weathering economic storms.

Right now, the risks for a company like Disney tilt to the downside. Consider some key issues, facts and trends.

• U.S. Growth. Contrary to claims from a variety of talking heads on television and in politics, the U.S. economy remains a mixed bag. For example, while the U.S. labor market is tight, economic growth has slowed. Fourth quarter 2019 real GDP (just reported on January 30) grew by 2.1 percent (annualized rate). That replicated the 2.1 percent growth in the third quarter, and wasn’t substantively different from the 2.0 percent rate in the second quarter. Consider that the post-World-War-II U.S. growth rate averaged 3.2 percent (and better than 4 percent during non-recession periods). Particularly troubling for the U.S. is that business investment has declined for three straight quarters now, which not only negatively affects current growth, but future growth as well.

• Trade Troubles. The anti-free-trade policies of the Trump administration have been a key negative for the U.S. economy. U.S. real export growth was non-existent (0 percent) in 2019, while imports barely edged forward (1.0 percent). As I noted in another analysis on trade policymaking, “The result has been that trade has shaved a significant 0.5-to-0.7 percentage points off of average overall real U.S. economic growth – if not more when you factor in the reach of trade across sectors, including the role that the trade war has played in the recent decline in business investment.”

• Consumer Slowing. Given the ills on the business investment and trade fronts, the consumer has been the key source for growth in the U.S. recently. However, real personal consumption expenditures growth slowed in the fourth quarter, from 4.6 percent in the second quarter 2019 to 3.2 percent in the third quarter and 1.8 percent in the fourth. 

Also, after a lengthy stretch of strong growth, real per capita disposable income moved down slightly during the last three months of 2019. Real per capita disposable income – which is personal income minus personal current taxes, adjusted for population and inflation – is important to watch because this measures the dollars that individuals have for investing, saving and consuming.

• China. China’s troubles continue to mount regarding the outbreak of the coronavirus, with deaths now reportedly topping 200 and those sick nearing 10,000 (as of early afternoon EST on Friday, January 31). 

• Europe. The Wall Street Journal noted on January 31 that growth slowed notably in the eurozone, with growth the slowest since 2013. Also, it was reported that economists aren’t expecting a pick-up in eurozone growth in 2020.

• Politics. Political risk and uncertainty promise to mount as a volatile U.S. presidential race, along with House and Senate contests, roll along during 2020.

So, economic concerns cut across the U.S., Europe and China, which are the major markets for Disney.

Against these concerns, it also must be noted that the only portion of the economy’s investment numbers showing consistent, strong growth has been in intellectual property products, that is, investment in software, research and development, and entertainment, literary, and artistic originals. That’s obviously a big area for Disney. 

And all indicators regarding Disney itself continue to point to investment growth in parks, cruise ships, streaming content, movies, and so on. Of course, though, short-term economic changes affect immediate investment and operational decisions, but Disney is a company poised to stay focused on long-term investments, opportunities and profitability.

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of The Disney Planner 2020: The TO DO List Solution and the Pastor Stephen Grant novels. He can be contacted at  raykeating@keatingreports.com.

FREE TRADE ROCKS! Explains What Everyone Should Know about International Trade

Ray Keating Explores How Free Trade Benefits People Throughout the Nation, Around the World and Across Income Levels 

Long Island, NY –While free trade has come under attack, Ray Keating lays out in clear, simple fashion the benefits of free trade and the ills of protectionism in FREE TRADE ROCKS! 10 POINTS ON INTERNATIONAL TRADE EVERYONE SHOULD KNOW.

Purchase the paperback or Kindle edition at Amazon.com.

Signed books are available.

Tapping into his experiences as an economist, policy analyst, newspaper and online columnist, entrepreneur, and college professor, who taught MBA courses on international business and entrepreneurship, Keating explores and explains in straightforward fashion 10 key points or areas that everyone - from entrepreneurs and executives to students and employees to politicians and taxpayers - needs to understand about how trade works and how free trade generates benefits for people across towns, the nation and international borders.

The 10 points or areas covered in FREE TRADE ROCKS! are...

Point 1: Do People "Get It" on Free Trade?

Point 2: Economics 101 on Trade

Point 3: Debunking Trade Myths

Point 4: Trade and the U.S. Economy

Point 5: Trading Partners

Point 6: Trade and Small Business

Point 7: Ills of Protectionism

Point 8: Brief History of Free Trade Deals

Point 9: The Morality of Free Trade

Point 10: The Future of Trade

Keating makes clear that nations don't trade. Instead, businesses and individuals trade, and free trade is simply about expanding the freedom to trade by reducing or eliminating governmental costs and restrictions.

Regarding FREE TRADE ROCKS!, Dan Mitchell, Chairman of the Center for Freedom and Prosperity, declares, “A common-sense explanation of why politicians and bureaucrats shouldn't throw sand in the gears of global trade.”

And Self-Publishing Review gives FREE TRADE ROCKS! four stars, and says: “International trade policy has come to the forefront of global politics, making FREE TRADE ROCKS! 10 POINTS ON INTERNATIONAL TRADE EVERYONE SHOULD KNOW by Ray Keating a timely and fascinating read for a suddenly curious demographic. Keating manages to bring this seemingly dull subject to accessible life with real-world examples often torn straight from recent headlines, along with a comprehensive and (mostly) impartial view on the topic. As the exclamatory title suggests, Keating is a fan of free trade, but his deep expertise spanning a wide range of subjects and career paths makes this book an engaging, informative, and essential read for those who want to weigh in on this hot-button issue."

Also, George Leef, the Director of Research at the James G. Martin Center for Academic Renewal, observes, “Ever since Donald Trump started talking about foreign trade, I have thought that what the country needs is a clear, easily understood book that explains why the government should not mess with free trade. Lo and behold, Ray Keating has written exactly that book. FREE TRADE ROCKS!clears away the myths and misconceptions that trade interventionists count on.”

Beyond a general readership interested in our economy, FREE TRADE ROCKS! is ideal for the classroom, boardroom and workplace.

Paperbacks and Kindle edition available at Amazon.com.

Review copies, and author interviews and appearances are available upon request. 

Contact: Ray Keating

Phone: 631-909-1122

E-mail:raykeating@keatingreports.com

Facebook:www.facebook.com/freeenterpriseeconomics

Twitter: @FreeEnterprise7

FreeEnterpriseEconomics.com

RayKeatingOnline.com