Alhambra Research Note: A Weakening Economy Portends a Challenging 2013
By John L. Chapman, Ph.D. Canton, Ohio For many months now, Alhambra Partners Founder and 20+ year investment professional Joe Calhoun has labeled the current investing climate a “secular bear market.” That is precisely correct, alas, but what does it mean for the investor, exactly? In short, that the past is prologue to the near-term .. read more
Weekly Economic & Market Review
Does anyone know what exactly, if anything, was accomplished in Europe last week? Angela Merkel proclaimed the agreement a “breakthrough to the stability union…using the crisis as an opportunity for a renewal.” I suppose that is possible but the devil is in the details which were conspicuous mainly by their absence in the agreement announced .. read more
October Trade Deficit Data Show More Good News for the U.S. Economy
By John L. Chapman, Ph.D. Washington, D.C. December 9, 2011 The U.S. Department of Commerce’s Bureau of the Census announced the trade deficit numbers for October today: the deficit in goods and services decreased to $43.5 billion in October, from $44.2 billion (revised) in September. Imports decreased slightly more than exports, but results continued to show an economy .. read more
Weekly Economic & Market Review
What would you think if you surfed over to the home page of the Wall Street Journal tomorrow and saw this headline: Malaysian Recession Threatens US Economic Expansion How about this one? Oman Facing Depression – World Economy At Risk Or this one? Ghana Prime Minister Resigns, US Investors Await Formation of New Government Or .. read more
September Trade Deficit Numbers — and What They Mean
By John L. Chapman, Ph.D. Washington, D.C. November 10, 2011 The U.S. Department of Commerce’s Bureau of the Census announced the trade deficit numbers for September today, and results were consistent with the no-recession thesis inherent in all recent government and market indicators: The Census Bureau reported the following: Exports increased to $180.4 billion in .. read more
Weekly Economic and Market Review
Volatility made a comeback last week as traders alternately bought and sold based on the latest utterances of various government officials. First it was Bernanke’s semi-annual report to Congress where his initial remarks were taken as an indication that QE 3 was warming up in the wings. Apparently not happy with how the market interpreted .. read more
Weekly Economic and Market Review
In the absence of much economic data last week and little that could be interpreted positively, stocks sold off and investors retreated to the comfort of the bear den. Sentiment has eroded rapidly in this slow motion correction but there has yet to be a climactic selling event which normally marks a bottom. The American .. read more
Devaluing the Dollar Will Not Reduce the Trade Deficit
Barry Eichengreen has an article today in the WSJ (subscription required) about the waning appeal of the dollar. Most of the article details why the reign of the dollar as the world’s preferred currency is coming to an end and he makes some very good points. At the end of the article however is this .. read more
