Best Restaurant in Town-Sashimi Pizza
3-19-25
Opening Comment
My last note was about the US News & World Report’s ranking of “Best States.” The most opened links were Mets star, Juan Soto getting revenge on a heckler, the link on falling egg prices and the Gaza hostage survivor’s horrifying abuse by Hamas.
People think padel is not a contact sport. Well, I gave myself a black eye last week. I attempted to return a ball that was tight against the wall. I hit the padel into the wall and the padel bounced off the wall into my eye.
Markets
Bessent, Deficits & Spending Cuts
US Education & the Rise of the Administrative State
US Intelligence Decline in Charts
Fast Sports Cars of the UBER Rich
$60mm Downtown Manhattan Condo Sale-$10k foot
Manalapan, the new Palm Beach hot Spot
Florida Housing Inventory Growth in Charts
Video of the Day-My Cooking Show with Chef Edvina
I had a fantastic time on Chef Edvina’s cooking show last Thursday, where I cooked my ginger-crusted salmon alongside the incredible chef. The video can be seen here. Trust me, Edvina is an amazing chef and person. Edvina does a weekly show with various guests and shows you how to cook different dishes.
Cafe Maxx-The Best Restaurant in Town
I have been critical of the South Florida food scene for good reason; it tends to underwhelm. Yes, we have seen new restaurants, and the game has improved, especially in Miami, but Broward and Palm Beach Counties are a culinary wasteland. The one beacon of consistency for me is Cafe Maxx. It has been in business since 1984, which is a statement on its own. I have been 30 times in eight years and do not recall leaving unsatisfied once. For virtually every birthday, anniversary or celebration, we go to Cafe Maxx, as we cannot find a better restaurant unless we go to Miami.
My wife, Jill, and I went with our dear friends Billy and Renata on Thursday night, and no one left hungry. Although this review is glowing, there is one thing I don’t like, and I will start with it. The patron attire is not amazing. I am always shocked at what some people wear to a high-end, expensive restaurant. I was in jeans and a long-sleeve shirt, while some were wearing shorts and flip-flops. Other than that, the place is amazing.
We started with the best thing on the menu - the famous tuna sashimi pizza, which has a thin crisp crust, wasabi cream cheese, sweet soy, caviar, scallion and spicy mayo. Despite the fact that the menu changes daily, this is one staple that is always available and is a must-order. We also got the crispy Brussel sprouts with sweet chili sauce and Asian vegetables. Another must-order item. I could easily order two of those pizzas for myself and be completely satisfied.
For starters, we also ordered the Faroe salmon carpaccio with capers and her confetti, onions and chives. It was served with crisp crostini bread and was delicious (had not seen it on the menu before). The caesar salad was the only thing I would not order again - nothing special - but I did love the crotons. The grilled snapper tacos were new on the menu, and I devoured them. The fish was tender, and I hope they have it when I return. My wife ordered the vegetable plate as her entree and enjoyed it.
There are so many amazing main courses to choose from that it is overwhelming. I went with the lamb chops with goat cheese. They were tender and cooked to perfection, medium rare. What is nice about Cafe Maxx is that despite being fully priced, the entrees come with sides. For $69, the lamb chops came with winter vegetables, roasted potato gratin, baby carrots, and broccoli. Billy ordered the triple tail francaise with roasted mushrooms. You don’t see triple tail on many menus, and when you do, order it. Another winner. Renata had the basil and cilantro chimichurri skirt steak with crispy onion rings, and she was raving about it. Of note, the presentation of all the courses is stunning.
For dessert, I get the same two things EVERY TIME. The fallen chocolate molten cake is decadent and rich and comes out hot. The other favorite is the warm apple tart with caramel and vanilla ice cream. Both are not to be missed.
Cafe Maxx has snappy service, great food, an amazing wine list, and constantly updates the menu. You can bring your wine for a corkage fee as well. I can promise you that smiles will be abound after your meal but do me a favor and leave the T-shirt and flip flops at home. Dress as though you are going to a nice restaurant, even if it is in a strip mall in Pompano Beach, Florida. Until something knocks Cafe Maxx off the winner’s podium, this is my favorite restaurant in town.
Food 8.8
Service 9.1
Ambiance-7
Price-Full but fair
Quick Bites
After a nice rally on Monday, stocks sold off again Tuesday with the Nasdaq underperforming (-1.7%). The April 2nd tariff deadline seemed to be in the news on Tuesday. Wednesday’s Fed announcement increased inflation forecases due to tariffs but left the likely rate cuts in 2025 at two while leaving rates unchanged. The Fed cut Quantitative Tightening to $5bn/month from $25bn/month. Stocks rallied post Fed with the Nasdaq outperforming on the day (+1.3%) as of 2:30 pm. Bond yields did not move much and the 10-year is at 4.27%. The CEO of Bank of America was on CNBC Wednesday am and mentioned that the consumer data shows they continue to spend more than last year, a statement which goes against the commentary from many retailers and airlines. With all the volatility, it is interesting to see the 1st chart of corporate insiders selling shares at the fastest rate in 20 years. With all that is happening in the world, I have not spoken about the US Dollar weakness recently. Since hitting 110 against the basket (DXY) in mid-January, it is now sub 104 given lower rates and the increasing likelihood of a recession (see chart). Retail sales were +.2% relative to the +.6% estimate and the downwardly revised -1.2% from the prior month. The latest Fed survey showed the probability of a recession at 36% up from 23% in January and also outlined lower expected GDP growth due to tariffs.
As my loyal readers know, I am a deficit hawk and write extensively about debt, deficits, entitlement reform, and the need to sharply reduce spending. Treasury Secretary Scott Bessent said Sunday the Trump administration is focused on preventing a financial crisis that could be the result of massive government spending over the past few years. “What I could guarantee is we would have had a financial crisis. I’ve studied it, I’ve taught it, and if we had kept up at these spending levels that -- everything was unsustainable,” Bessent said on NBC’s “Meet the Press.” “We are resetting, and we are putting things on a sustainable path.” Sadly, I agree with Bessent that the country has been going down the wrong fiscal path for decades. However, there will be great pain to the economy as we cut federal spending and waste. Bessent believes pullbacks like the one the market is in right now are benign, and Trump’s pro-business policies will boost the market and the economy over the long run. “I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy. They’re normal,” he said. “What’s not healthy is straight up, that you get these euphoric markets. That’s how you get a financial crisis. It would have been much healthier if someone had put the brakes on in ’06, ’07. We wouldn’t have had the problems in ’08.” With 65-70% of the budget accounted for by entitlements and interest, the country is in deep trouble without sharp cuts in spending. Social Security, Medicare, and Medicaid alone are approximately 75% of mandatory spending. Sadly, neither party is willing to tackle entitlements, and the idiots in the Treasury Department refused to refinance our debt during the pandemic given the view that “inflation was transitory.” I don’t agree with the way Trump and DOGE are doing everything, but I do agree with what they are attempting to do, and that is reduce spending and stop running massive deficits. This link shows federal spending by area. This link outlines waste in Medicaid.
I have been extremely critical of US education, outcomes, and per capita spending for public schools through high school. I have also questioned the behaviors of many institutions in terms of teachings, admissions policies, DEI, antisemitism, and the growth of administration staff. The first chart sums it up beautifully. Over 20+ years, the administrative staff is +95%, teachers +10%, principals and assistant principals +39%, and students +5%. Sadly, outcomes are not improving despite the extra staffing. This article outlines how the US spends more than almost every other country yet gets worse outcomes. This WSJ opinion piece, “Don’t Cry for the Education Department,” is very critical of the DOE. On a related matter, this link is to a story entitled, “The tide has turned against elite universities — and it’s about time,” and I agree. So many of the elite universities have become embarrassing institutions. I agree 100% with Trump’s move to cut funding and require these schools dependent on federal funds to act more appropriately. Columbia has already started taking a different tact after $400mm was cut. The last chart is of the change in enrollment from the northeast for SEC schools between 2014-2023. The demand for schools in the south is out of control given the ridiculousness of so many of the institutions in the northeast.
Is human intelligence starting to decline? I am a firm believer that the invention of the smartphone has led to massive efficiency improvements but has also caused countless issues. The creation of social media has done irreparable harm to children and adults globally. I still remember my phone number from the house I had at 5 years old. However, I do not know my home phone number today and have no idea what are my kids’ cell phone numbers. Why? I have never dialed their phones because my smartphone does it for me. Our reliance on these incredibly powerful machines that do so much for us prevents humans from using their brains. Smartphones became popular around 2010, and social media blew up shortly after. The correlation coefficient is high between smartphones and the reduction in intelligence. Also, a very high correlation between social media and all kinds of psychological issues with kids. Just read Jonathan Haidt’s book, The Anxious Generation, reviewed here by Bill Gates.
I understand the desire for fast cars, but at some point, it becomes ridiculous. This NY Post story, “See the insane $3M hypercars Michael Jordan, Sam Altman drive — because Ferraris just aren’t fast enough,” is crazy and reminds me of a funny interaction I had. According to the article, Michael Jordan bought a Hennessey Venom F5 Roadster for $3mm and it can get to 300mph. Sam Altman drives the Koenigsegg Regera, a $2mm+ sportscar that goes 255mph and 0-60 in 2.8 seconds. The article goes over a bunch of sports cars that I have never even heard of before. I was a member of a fancy golf course in the Hamptons some years ago, and a well-known billionaire and I were talking about his car that I thought looked beautiful. It was a Bugatti that had almost 1,200 horsepower. He said, “Eric, I just ordered the new one to pick up more speed and horsepower.” I said, “You drive this in the Hamptons where the speed limit is 35mph, and you need something that goes faster than 0-60 mph in 2.5 seconds? Sure seems like a great idea and something you definitely need.” The billionaire laughed and said, “Point noted.” I guess if you have so much money, you cannot spend it, you don’t care. This article suggests that 40% of new Ferrari buyers are under 40 years old today.
Politics
‘See you in four years’: Canada flexes economic muscle as tariff negotiations continue
I think Trump expected that taking a tough stance on tariffs would pressure other countries into quick concessions. That hasn’t happened, and Canada is pushing back hard. Canadians are actively avoiding American imports. Grocery stores have encouraged visitors to “shop Canadian” with signs and special labels in aisles alerting them to which products were made domestically. More than 60% of Canadians reported buying fewer American products when shopping either in store or online, according to a survey from market research firm Leger of more than 1,500 residents conducted between March 7 and March 10.
Trump and Putin agree to an immediate ceasefire for energy and infrastructure in Ukraine war
The Russian leader stopped short of backing a broader 30-day pause in fighting that the U.S. administration is pressing for.
Any gang member who is an illegal immigrant should be deported immediately. These idiot judges blocking deportation should lose their jobs. Why do we want illegal immigrant criminals in our country? Let me get this right. When Biden flew in all these illegal immigrants and allowed millions into the US illegally, that was ok. But deporting known gang members who are ruthless murderers and rapists is illegal? Let’s put on our commonsense caps and rethink the absurdity of what is being done.
Judge says dismantling of USAID was unconstitutional, orders Musk to restore access for employees
I’m not convinced these pardons will be overturned, nor do I think challenging them is the best use of resources.
Trump fires both Democratic commissioners at FTC
There is pushback from Democrats that may require this end up in court.
Jamie Dimon says Elon Musk’s DOGE ‘needs to be done’
I am in agreement 100% but would also like to see Entitlement reform.
Trump filmed stumbling up Marine One steps as health fears continue to grow
The video of his leg is concerning. I reported on Biden’s struggles extensively and I will be closely watching Trump’s as well. This is what we get when we continue to elect the elderly.
Democratic Party’s favorability drops to a record low
This is a CNN poll, and that news organization is quite left leaning. Democratic-aligned adults say, 52% to 48%, that the leadership of the Democratic Party is currently taking the party in the wrong direction. Just 63% of Democrats and Democratic-leaning independents report a favorable view of their own party, a dip from 72% in January and 81% at the start of President Joe Biden’s administration. The CNN poll shows 29% of Americans have a favorable view of the Democratic party, the lowest recorded in the 30 year poll’s history. Interestingly, more registered voters say the US is heading in the right direction (44%) than any point since 2004. However, a majority (54%) still say we are on the wrong track.
Trump administration sends a clear message to the oil and gas industry: ‘You’re the customer’
The Biden Administration continually vilified the oil industry and threatened it at every turn. I am of the view that energy independence is important for national security. Biden crushed the Strategic Petroleum Reserve and went against the US oil industry, including canceling the Keystone Pipeline, proposing extra taxes on the oil industry, repealing Trump’s Executive Order promoting energy independence and economic growth, banning drilling, and more. The CEO of Chevron urged Biden to stop vilifying the oil and gas industry and instead work constructively to deal with high commodity prices. Remember, in 2020, Biden campaigned about ending the oil & gas industry. My point is simple, Trump is looking to work with the industry, not end it. The messaging from the current administration will lead to new investment in the industry.
Greenland government calls Trump's acquisition talks 'unacceptable'
Middle East
Ceasefire over as Israel strikes Gaza after Hamas refused to release hostages, officials say
Dozens killed in US strikes on Houthi targets across Yemen: 'They’re everywhere'
Houthis vow to retaliate after US airstrikes on Yemen
President Trump, you can end this one in hours. Houthis are yet another Iran-backed terrorist organization that needs to be eliminated along with Hamas and Hezbollah.
Iranian general raises prospect of response amid US strikes on Houthis
Harvard Law School Students Pass Referendum Urging University To Divest From Israel
No Jew should donate to schools that hate Israel and Jews.
Why is it that Ivy League and Liberal Arts schools in the Northeast have so many professors who support terrorism?
Other Headlines
When consumers are concerned about their financial situation, they pull back spending. They forgo purchases of cars, clothes, vacations, dining out…This is while we are doing large and necessary layoffs in the federal government and cutting spending. We will be going through pain to get to the right answer. The 2nd chart shows US consumers’ job expectations dropped to the lowest level since the Global Financial Crisis.
Slumping Stocks Threaten a Pillar of the Economy: Spending by the Wealthy
Consumer spending is highly dependent on the affluent, who are highly dependent on the stock market. The article suggests a declining stock market will bring down consumer spending, which will bring down GDP.
More Americans with college degrees are working multiple jobs, Fed report finds
Inflation, high college costs, credit card debt, and the desire for instant gratification have led consumers down a dangerous path in many cases.
Marc Lasry Says Economy ‘Can’t Survive’ Under Trump Uncertainty
“The problem for the markets is when they don’t know what to do,” Lasry, 65, said in an interview. “An economy can’t survive like that. It just slows everything and could push this economy into a recession.”
The Fed Is in Wait-and-See Mode. Investors Want Reassurance It Will Act If Needed
Klarna, nearing IPO, plucks lucrative Walmart fintech partnership from rival Affirm (Affirm stock was -10% on the news)
Google to acquire cloud security startup Wiz for $32 billion
Nvidia announces Blackwell Ultra and Rubin AI chips
Stock at $115/share after a recent high of $153 and low of $105.
Tencent profit surges 90% as it touts AI revenue boost and ramps up spending
Bridgewater’s Main Macro Fund Surges 11.3% Amid Market Swings
Lots of speculation about hedge funds suffering amidst market volatility, especially the multi-strategy funds. However, some are doing well.
AI that can match humans at any task will be here in five to 10 years, Google DeepMind CEO says
What are the ramifications for jobs? Corporate efficiency? Deflation?
Boeing Starliner astronauts complete return to Earth in SpaceX capsule after extended stay on ISS
Man stabbed to death by group of teens outside Barclays Center in NYC
Man set on fire in Times Square, leaving him horrifically burned
NYC Man Caught in Viral Video Calmly Eating Raw Dead Rat on Busy Sidewalk in Broad Daylight
In the past 10 years, I’ve seen some wild things while walking the streets of NYC, and it doesn’t seem to be improving.
Florida spring breakers hold illegal beach boxing match — complete with cryptocurrency betting
Harvard negotiation expert: People who are good at handling conflict do this
Hurricanes are shifting south. Here’s why that’s a serious problem
‘Career catfishing’: Bizarre phenomenon impacting Aussie workplaces
Young people accept jobs and never show up for work, according to the article. Let me be crystal clear: I would never have considered doing something this stupid as a kid. If my mother found out I did not follow through on a job, I would have been kicked out of the house.
59 dead, over 150 injured in horrific nightclub fire in North Macedonia
California man wins $50 million in lawsuit over burns from Starbucks tea
Health Related
The burned-out generation: Americans feeling peak stress earlier than ever
The World’s Deadliest Infectious Disease Is About to Get Worse
Spring allergy season is here — minimize symptoms with this doctor-approved tool kit
Doctor reveals alarming reason why you should NEVER go for long periods without sex
Real Estate
A financier’s West Village condo just set a new record for Downtown Manhattan. Harsh Padia, CEO of HAP Capital, and his wife, interior designer Purvi Padia, traded their apartment for $60 million in an off-market deal that closed Thursday, the Wall Street Journal first reported. The sale price was double what the Padias paid for the apartment in 2016. The deal is now the most expensive for a condo in the area, surpassing private equity billionaire Robert Smith’s $59 million purchase of a penthouse in the Getty Building in 2018. The price per foot came in at $10,300 for the duplex. Pictures in this link of the apartment.
Just south of Palm Beach, the small island town known for its popularity with the rich and powerful, lies an even smaller island town: Manalapan. Long overshadowed by its more famous neighbor, it is now an ultra-luxury market hub with some of Florida’s most expensive home listings. “In the past, everyone only wanted to be on the [Palm Beach] island. Now, we’re seeing people who want to be in Manalapan,” said Douglas Elliman agent Senada Adžem. Currently six properties are listed in Manalapan asking more than $50 million, remarkable for a town that spans just 2.4 square miles and has about 400 year-round residents, agents say. Those trophy listings include a 4-acre spec estate asking $285 million.
Some markets in Florida are under pressure with price cuts, growing inventory, and slowing demand. Hurricanes, affordability issues, rising insurance rates are all playing a factor.
© 2025 The Rosen Report LLC. All rights reserved. Does not constitute investment, financial, legal, or tax advice. Consult with your lawyers and professional financial advisers. Rosen Report™ #770 ©Copyright 2025 Written By Eric Rosen.
THANK YOU!
Love the cooking video!!!