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May 13, 2025
“Our freedom of choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we can turn to another. But if we face a monopolist we are at...
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May 6, 2025
From The Burden of Bretton Woods, The Richard Nixon Foundation: ...by the 1960s, the expansion of global production and trade increased the amount of dollars circulated worldwide —...
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Apr 29, 2025
Stocks have rebounded over the last three weeks from the initial shock of the "liberation day" tariffs announced on April 8th. The S&P 500 is now down just 2.5% since the close on...
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Apr 22, 2025
The US economy has been the envy of the world for a long time, especially after the 2008 financial crisis and the COVID pandemic. Our economy has grown faster than just about any...
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Apr 15, 2025
The stock market rallied last week, the S&P 500 up nearly 6%, spurred on by the suspension of some of the tariffs imposed on April 2nd. The "reciprocal" part of the new tariffs was...
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Apr 9, 2025
You can't be serious! You cannot be serious! - John McEnroe, challenging a fault call at Wimbledon, 1981 That's what went through my head when President Trump unveiled his...
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Apr 1, 2025
Is it finally time for international stocks to shine? That question has been asked and answered negatively for 10 of the last 12 years if you compare the S&P 500 to the EAFE...
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Mar 25, 2025
Sweeping tariffs and a shift away from strong dollar policy can have some of the broadest ramifications of any policies in decades, fundamentally reshaping the global trade and...
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Mar 18, 2025
There wasn't a lot of economic news last week but it was largely as expected and seemed pretty good. Job openings rose, there was no rise in jobless claims even after the large...
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Mar 11, 2025
Uncertainty around economic policy is near all-time highs with most of that focused on trade policy. Is the uncertainty part of President Trump’s plan? Or part of his negotiating...
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Mar 4, 2025
The meeting between President Trump and Volodymyr Zelenski last Friday dominated the news over the weekend but for investors the more important news came before that historic (or...
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Feb 25, 2025
Okay, I confess. It was my fault. I decided to take a couple of days off. I took my eye off the ball and the stock market fell a quick 2% while I was relaxing, eating too much, and...
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Feb 19, 2025
Since the beginning of the year, gold is up nearly 12% while the S&P 500 is only up a little over 4%, an outcome that is feeding a lot of narratives about it's cause. There have been...
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Feb 11, 2025
The stock market was having a good week until just around 10 am last Friday. Stocks rallied during the week as earnings reports were pretty good - with exceptions as always - and the...
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Feb 4, 2025
By the time you read this, markets around the world will be reacting to the Trump administration's imposition of tariffs on Canada and Mexico and additional tariffs on China. I don't...
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Jan 28, 2025
President Trump's first week on the job was a good one for markets. The S&P 500 was up 1.75%, with tech stocks taking the lead as the President welcomed a group of leading technology...
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Jan 22, 2025
For every complex problem there is an answer that is clear, simple, and wrong. H.L. Mencken By the time you read this we'll have a new President. Well, actually, he's an old...
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Jan 14, 2025
The December employment report was released last Friday and it was quite a bit better than expected. Expectations were for payrolls to rise by 160,000 on the month but instead...
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Jan 7, 2025
At the beginning of every year, investment firms around the world publish their year-ahead outlook for markets and the economy. These prognostications can be interesting but not for...
May 13, 2025“Our freedom of choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we can turn to another. But if we face a monopolist we are at...
May 6, 2025From The Burden of Bretton Woods, The Richard Nixon Foundation: ...by the 1960s, the expansion of global production and trade increased the amount of dollars circulated worldwide —...
Apr 29, 2025Stocks have rebounded over the last three weeks from the initial shock of the "liberation day" tariffs announced on April 8th. The S&P 500 is now down just 2.5% since the close on...
Apr 22, 2025The US economy has been the envy of the world for a long time, especially after the 2008 financial crisis and the COVID pandemic. Our economy has grown faster than just about any...
Apr 15, 2025The stock market rallied last week, the S&P 500 up nearly 6%, spurred on by the suspension of some of the tariffs imposed on April 2nd. The "reciprocal" part of the new tariffs was...
Apr 9, 2025You can't be serious! You cannot be serious! - John McEnroe, challenging a fault call at Wimbledon, 1981 That's what went through my head when President Trump unveiled his...
Apr 1, 2025Is it finally time for international stocks to shine? That question has been asked and answered negatively for 10 of the last 12 years if you compare the S&P 500 to the EAFE...
Mar 25, 2025Sweeping tariffs and a shift away from strong dollar policy can have some of the broadest ramifications of any policies in decades, fundamentally reshaping the global trade and...
Mar 18, 2025There wasn't a lot of economic news last week but it was largely as expected and seemed pretty good. Job openings rose, there was no rise in jobless claims even after the large...
Mar 11, 2025Uncertainty around economic policy is near all-time highs with most of that focused on trade policy. Is the uncertainty part of President Trump’s plan? Or part of his negotiating...
Mar 4, 2025The meeting between President Trump and Volodymyr Zelenski last Friday dominated the news over the weekend but for investors the more important news came before that historic (or...
Feb 25, 2025Okay, I confess. It was my fault. I decided to take a couple of days off. I took my eye off the ball and the stock market fell a quick 2% while I was relaxing, eating too much, and...
Feb 19, 2025Since the beginning of the year, gold is up nearly 12% while the S&P 500 is only up a little over 4%, an outcome that is feeding a lot of narratives about it's cause. There have been...
Feb 11, 2025The stock market was having a good week until just around 10 am last Friday. Stocks rallied during the week as earnings reports were pretty good - with exceptions as always - and the...
Feb 4, 2025By the time you read this, markets around the world will be reacting to the Trump administration's imposition of tariffs on Canada and Mexico and additional tariffs on China. I don't...
Jan 28, 2025President Trump's first week on the job was a good one for markets. The S&P 500 was up 1.75%, with tech stocks taking the lead as the President welcomed a group of leading technology...
Jan 22, 2025For every complex problem there is an answer that is clear, simple, and wrong. H.L. Mencken By the time you read this we'll have a new President. Well, actually, he's an old...
Jan 14, 2025The December employment report was released last Friday and it was quite a bit better than expected. Expectations were for payrolls to rise by 160,000 on the month but instead...