Commentary Last Summer I had concluded that something ‘fishy’ was going on in the world. Many of the responses to the Coronavirus pandemic made no sense, i.e., they were extremely destructive to economies and humans in general. Still, they were kept in place in many countries, while governments took an ever-increasing role in our economies….
Can Biden Help Housing?
Commentary At one time or another, every politician—local, state, and federal—promises to help create “affordable housing.” The issue has become especially critical of late with rents and housing prices rising and higher interest rates making it more difficult to support a mortgage. The Biden administration has responded with a five-point program. Some of its elements…
President Biden Points to the Wrong Curve
Commentary The Institute of Supply Management (ISM) reported that its purchasing managers’ index (PMI) for the U.S. manufacturing sector rebounded slightly in May 2022 from April, rising to 56.1 from 55.4. These are still relatively low numbers, particularly for an economy that is supposed to be robustly booming, comparable to the global downturn in 2019….
Can the Medical-Industrial Complex Be Fixed?
News Analysis So many charts from this period of our lives will amaze future historians. The one that stands out to me, about which I’ve seen very little commentary, is that which shows consumer spending on medical services taking a deep dive during a pandemic that everyone says was the worst in 100 years. Would…
Biden Has No Workable Plan for Inflation
The White House has struggled mightily to convince people that it can do something about inflation. Handlers finally decided to go straight to Wall Street with its message. This might have been an even worse idea. The results reveal not one word about the real problem and the supposed solutions are strangely disconnected from any…
Inflation Is the Least of the Repercussions of Biden’s Incompetent Diplomacy
June 2, 2022
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When President Barack Obama received his Nobel Peace Prize less than 11 months after his inauguration in 2009, supposedly for, among other things, establishing “a new climate in international politics” in which “dialogue and negotiations are preferred as instruments for resolving even the most difficult international conflicts,” the young, new president with close to zero…
Follow the ‘Smart Money’? If Only They Could Agree
Commentary The S&P 500 index ended May flat, despite massive volatility in the public markets throughout the month amidst increasing angst around slowing economic growth and risks of runaway inflation. The U.S. economy is on shaky ground. The specter of rising rates, weak consumer sentiment, slowing economic growth, and inflation have severely dampened risk appetite…
Cryptocurrencies Are on Their Way Out
June 1, 2022
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Commentary The cryptocurrency market valuation is less than half of the $2.9 trillion it was worth in November. What’s going on with the cryptocurrency market? More people than ever before have been holding “cryptos” as a safe-haven asset to hedge against inflation and other central bank offenses. It wasn’t very long ago that investors were…
The Fallacy of the ‘Broken Clock’ & the Art of Contrarianism
Commentary It gets stated that “bears are like a ‘broken clock,’ they are right twice a day.” While it may seem true during a rising bull market, the reality is that the “broken clock syndrome owns both “bulls” and “bears.” The statement exposes the ignorance, or bias, of those making such a claim. If you…
The Clock Is Ticking on Fed Rate Hikes as Recession Approaches
Commentary The purpose of immensely important, woefully unappreciated eurodollar futures derivative contracts is simply hedging. But hedging enormous and complex financial positions isn’t for you or me, but rather for the global behemoths that are the eurodollar system itself (the world’s actual reserve currency). Given the scales involved, there are literally trillions on the line,…
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