Jun 8, 2021
The Fast & Furious Business Cycle
The current business cycle has been unprecedented.
Jun 2, 2021
A Flood Of Liquidity
While the debate rages on over whether inflation is transitory or long lasting, there’s no debating that an enormous amount of liquid asset...
May 13, 2021
Will Biden/Powell Kill What Reagan/Volcker Killed?
Should we be worried about a wage/price spiral like the 1970s?
May 5, 2021
The One Percent: Off With Their Heads!
Socialists never seem to get enough.
Apr 28, 2021
The Running of the Bulls
Prince, Bowie, or Metallica? I’m still trying to figure out what will be the theme song for 2021.
Apr 27, 2021
Another Roaring Twenties May Be Ahead
The 1920s may offer a template for the 2020s.
Apr 15, 2021
Monetary Policy Through A Rearview Mirror
Four recent observatios about the Federal Reserve.
Mar 30, 2021
High-Octane Earnings: Estimates Are Rising
I am raising my S&P 500 operating earnings forecast for 2021 from $175 per share to $180, a 27.8% y/y increase from 2020.
Mar 12, 2021
Rent: From Inflation Headwind To Tailwind
A housing shortage is turning rent disinflation around.
Mar 5, 2021
Checks Without Balances
Washington's lawmakers have discovered the joys of sending checks to their constituents during bad times.
Feb 23, 2021
S&P 500 Earnings: V-Shaped Recovery
Notwithstanding the severity of the third wave of the pandemic during the fourth quarter of last year and early this year, a great deal of progress has been made on the economic...
Feb 11, 2021
Help Wanted? Why Aren't Jobs Openings Being Filled?
In a recent Washington Post op-ed, Larry Summers trashed President Joe Biden’s American Rescue Plan as too stimulative and too inflationary. He may have a point.
Feb 4, 2021
Inflation Is Up for Discussion
There are four deflationary forces that should keep a lid on inflation.
Jan 18, 2021
Party Like There's No Tomorrow!
After listening to the lyrics of “Party Like There’s No Tomorrow,” I think it might be a more fitting theme song for our current milieu than “Party Like...
Jan 11, 2021
Can Senator Gridlock Stop The Blue Wave?
The Democrats took control of the Senate but Joe Manchin of W. Va. is in control
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