Buy the Rumor Sell the Fact One of the things that could de-rail Wall Street enthusiasm is if Republicans are not able to deliver on the promised tax cuts. Of course, even if they are able to deliver, it will be a, “buy the rumor, sell the fact”. Especially since the fact is not going […]
No Such Thing as a Permanent Tax Cut-Ep. 304 Read More »
Fed Fears Inflation Is Not High Enough Fed statements drove the markets today; particularly the foreign exchange markets and the precious metals markets. First we got a quote from Janet Yellen early this morning in which she was talking about inflation. Her concern is that inflation isn’t high enough. Here’s and exact quote from Janet
Frankenfed Finally Fears Its Own Monster – Ep. 303 Read More »
Hi, Although I don’t have much illusions that you have time to read this or even respond, I just wanted to give you a thumbs up for your podcasts and talks. I just heard episode 291 where you said a talk in Yale resulted in nobody changing his mind about minimum wages. Well.. I was
I Did Change My Mind About Minimum Wages Read More »
Financial Conditions Are Loosest Since 1994 I was reading an article today that the Chicago Fed released their National Financial Conditions Index (NFCI) and according to their research, financial conditions in the United States are the loosest since January of 1994. Of course, that was early on in the dot com bubble, before it even
Financial Conditions Easiest Since 1994 – Ep. 302 Read More »
Faltering Expectations The U.S. dollar and the stock market continued to be a little bit under pressure this week as anxieties are rising over the fate of the tax cuts with so many investors are putting so much expectation into the proposed tax cuts. Tax Cuts Do Not Reflect Smaller Government I have gone over
Lies Republicans Tell to Sell Tax Cuts – Ep. 301 Read More »
No Real Tax Relief Yesterday the Senate released their version of the Tax Cut and Jobs Act, and it is not that different from the House version. There are some differences, some of which I will get into, but the main problem is not the difference, but the similarity. The plans don’t deliver any kind
Senate Rearranges the Deck Chairs – Ep. 300 Read More »
Conventional Media Was Surprised It’s hard to believe has been a year since Donald Trump shocked everybody, at least everybody in the conventional media, Wall Street, all the pundits, professional politicians, anybody who has anything to do with Saturday Night Live… Nobody believed that Trump a snowball’s chance in Hell of winning the White House.
Trump’s “Surprise” Win One Year Later – Ep. 299 Read More »
High Expectations for Jobs Numbers This morning we got the release of the October jobs report, and it followed the hurricane-related very weak report that we got in September. This time, the reason actually was weather-related. Remember, they originally reported a decline of 33,000 in September. No one cared, though, because it was all about
Obama Employment Trends Continue Under Trump – Ep. 298 Read More »
No Change in the Fed Swamp The announcement of the new Fed Chair, Jerome Powell, represents a commitment to the status quo at the Fed. President Trump has nominated the person most likely to do exactly what Janet Yellen did for President Obama. Powell has voted in lock step with Janet Yellen for the entire
The Swamp Wins on Taxes and the Fed – Ep. 297 Read More »