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Did China Really Win, or Did Everyone Lose?

By |2018-04-02T16:05:00-04:00April 2nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Of all the economic accounts where last year’s big tropical storms would have had the greatest impact, any substantial boost in construction spending made the most sense. What is destroyed is most often quickly rebuilt, particularly in the public arena. One of the core functions of local government is infrastructure, and no local politician can survive long in office if [...]

Ending The Fed’s Drug Problem

By |2017-03-30T18:07:07-04:00March 30th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Gross Domestic Product was revised slightly higher for Q4 2016, which is to say it wasn’t meaningfully different. At 2.05842%, real GDP projects output growing for one quarter close to its projected potential, a less than desirable result. It is fashionable of late to discuss 2% or 2.1% as if these are good numbers consistent with a healthy economy. This [...]

A Eurodollar Impression On the Corporate Side of the Bubble Economy

By |2015-03-23T16:23:55-04:00March 23rd, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Right along with the growing recognition that there is a systemic problem with labor utilization, and thus wages and earned income serious lag and cap true economic advance, there is at least the coincidence of financial factors that would offer a correlation if not full causation. It may be just that, coincidence, but even that should more than suggest a [...]

Maybe IBM Should’ve Bought The Whole ‘Cloud’ Rather Than Itself

By |2014-10-20T14:58:00-04:00October 20th, 2014|Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

IBM blames the cloud for its dismal results, but the fact is that IBM should own the cloud outright (figuratively, of course). If the business has changed so much in the past few years due to customer shifting, then why wasn’t IBM leading that process? Why are they now actually admitting what amounts to a dereliction of managerial duties? Since [...]

Durable Goods Are ‘Better’ Only in Narrow Focus

By |2014-08-26T15:48:56-04:00August 26th, 2014|Economy, Federal Reserve/Monetary Policy, Markets|

Factoring the record pace of Boeing’s distortions on durable goods, the series has picked up in the past two months after major and large upward revisions to June’s estimates. The increase in growth encompasses nearly all of the subsegments, as new orders and shipments for both durable goods (ex transportation) and nondefense capital goods (ex aircraft) increased measurably over July [...]

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