Commentary There is this joke in economics that says two people are walking along and one says “There’s a twenty dollar bill on the sidewalk.” The economist responds: “That cannot be true because someone would have already picked it up.” There is a weird truth to the joke that in economics class we learn about…
The Rise of Conscious Consumerism
May 9, 2023
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ANALYSIS: Is the Fed’s Inflation Fight Yielding Results?
All eyes this week will be on the April inflation report. Will it continue its downward trend, or will the consumer price index (CPI) continue to be stubborn and sticky? The Federal Reserve Bank of Cleveland’s Inflation Nowcasting is penciling in an annual inflation rate of 5.2 percent, which would be up from 5 percent…
Investing: Cutting Through the Noise
May 8, 2023
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Commentary As an investor, it’s very easy to look at the current environment and shake one’s head. There’s a tremendous amount of headwinds. Given the volumes of headlines involving inflation, the debt ceiling, incompetence in Washington, geopolitical risks, China, etc., some investors may just give up and stash away their cash. But that could prove…
How Business Embraces Marxism Under the Guise of Diversity
May 8, 2023
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Commentary Disney higher-ups have been found admitting to indoctrinating children in radical sexual and gender ideology. The Carhartt work clothes company required its more than 3,000 employees to be vaccinated for COVID-19, despite conceding that “we are aware some of our associates do not support this policy.” Keurig Dr Pepper Inc., the third-largest soft drink…
European Banks Are Not Immune to the Turmoil in US Banking
Commentary Deposits at U.S. commercial banks have fallen to the lowest figure in nearly two years, according to the Federal Reserve. This figure has fallen by $500 billion since the Silicon Valley Bank collapse. However, total banking credit has risen to a new record high of $17 trillion, according to the U.S. central bank. Less…
China Ties Weigh on US Brands
Commentary The pressure is on for the biggest U.S. brands, including Apple, Nike, Adidas, and Disney. On May 2, two leading congressmen demanded that the fashion brands confirm that their supply chains are untainted by slave labor in China. Sourcing from forced labor in the country’s Xinjiang region, where a genocide is underway, is now…
April Jobs Prints at 253,000, but With 149,000 Downward Revisions
May 5, 2023
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New jobs created printed at 253,000 on May 5, according to the Establishment Survey, well above market expectations of 180,000 jobs. Net revisions were down 149,000 jobs from February and March. That makes the average three-month creation of 222,000 jobs. The Household Survey, which is compiled from different data, showed 139,000 people were newly employed. Both…
The Debt-Ceiling Crisis That Probably Isn’t
May 5, 2023
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The financial media is rife with misinformation on the debt ceiling and the jump in interest rates. However, a history review shows that the debt-ceiling issue is not only a non-crisis but also the recent rise in rates is likely an opportunity to buy bonds. Let’s start with the media scare tactics over the debt…
First Quarter GDP: Weakness
Commentary Economic activity in the first quarter disappointed. Real gross domestic product (GDP) grew at a paltry 1.1 percent annual pace between January and March. That was better news than a zero-to-negative figure that would have indicated recession but a poor showing, nonetheless. The detail behind this overall measure painted an even less attractive picture,…
The Next Phase of the Banking Crisis
May 4, 2023
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Commentary In the most recent failure in the banking sector, earlier this week First Republic Bank collapsed, was placed into Federal Deposit Insurance Corp. (FDIC) receivership, and had most of its assets sold to JPMorgan Chase. With some $232 billion of assets, this marked the second-largest U.S. bank failure ever, only surpassed by Washington Mutual…
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