Weekly Economic and Market Review
[after slicing one of the Black Knight's arms off] King Arthur: Now stand aside, worthy adversary. Black Knight: ‘Tis but a scratch. King Arthur: A scratch? Your arm’s off. Black Knight: No it isn’t. King Arthur: What’s that, then? Black Knight: [after a pause] I’ve had worse. King Arthur: You liar. Black Knight: Come on .. read more
Weekly Economic and Market Review
The market got exactly what it expected last week and the result was another leg higher in a rally built on two dubious assumptions: gridlock is good and the Fed can fix what ails the economy. The mid term elections delivered control of the House of Representatives to John Boehner and the Republicans while the .. read more
Weekly Economic and Market Review
I’m on vacation this week but just wanted to make sure and comment about the last week’s events. While the big news of the week was obviously the employment report Friday which triggered the big stock market selloff, the economic data actually continues to show pretty steady improvement. Whether that will continue is of course .. read more
Disgusted
From the Washington Post: The House ethics committee ruled Friday that seven lawmakers who steered hundreds of millions of dollars in largely no-bid contracts to clients of a lobbying firm had not violated any rules or laws by also collecting large campaign donations from those contractors. In a 305-page report, the ethics committee declared that .. read more
Weekly Economic Review
The economic data released this week continues the pattern we’ve seen for months. Manufacturing is leading the recovery while consumption continues to lag. This pattern is actually quite normal for recovery from recession and is consistent with economic theory. The mainstream view that the economy can’t recover without a rise in consumption is exactly backwards. This recession .. read more
It Hurts When I Do This…..
Patient: Doctor, it hurts when I do this…. Liberal (Keynesian) Doctor: “Well, obviously you just haven’t been doing that enough. Do it more and you’ll get accustomed to it and it won’t hurt anymore. We’ll also send you for an X-ray, an MRI and a CAT scan. And while we’re waiting for recovery, here’s a .. read more
