Trump Administration Continues to Attack the Environmental Projections First Put Into Place by the Nixon Administration If you, the reader, are uncertain whether to support Trump or whoever the Democratic candidate turns out to be, I urge you to consider the devastating reduction in protections for clean air, clean water, and clean land (thus also […]
The day before yesterday, the Fed made a somewhat unusual announcement of $500,000,000,000 of REPO offers a day for three days in a row. The idea was to let banks unload risky assets before they panicked nipping a financial crisis in the bud. This move was controversial. Unfortunately many critics act as if the Fed […]
I am in a city with a curfew (enforced ?) where only pharmacies, supermarkets and those stores where someone from China sells all sorts of household stuff are open. Rome hasn’t reached the dread levels of Wuhan and Milan, but the Italian government is trying to get ahead of the curve. It is strange and […]
On the topic of Coronavirus and the travel ban, Trump’s travel ban sidesteps his own European resorts. The President’s newly implemented European travel restrictions to the US conveniently side step a ban on nations where three Trump-owned golf resorts are located. No politics there, just plain greed. Trump has been under fire for visiting his […]
This is what exponential growth looks like I’ve placed an added emphasis on high frequency indicators, as they will be the first to show the impact of coronavirus on the economy. This morning chain store sales for last week were reported. They were: – Redbook +6.0% YoY – Retail Economist unchanged w/w, +0.9% YoY Needless […]
This is coming from MEDPAGE TODAY, “Track the U.S. COVID-19 Outbreak in Real Time,” Comments Section (3 comments), March 11, 2020 with regard to COVID-19 “The mechanism of seasonal effect for seasonal respiratory virus spread is believed to be humidity, not temperature. In New York state which has 220 cases, fomites lose moisture where indoor […]
As of the market close on 11 March 2020 the S&P 500 PE had fallen to 18.2. This makes the market cheap in my valuation model as it has fallen below my fair value band. Moreover, with interest rates still falling to new record lows the fair value band is also rising. In the chart […]
This is not a prediction. Only an observation. From 1952 to 1996, U.S. nominal net worth of households and non-profits tracked nominal GDP pretty closely. Net worth remained pretty close to 15 times GDP. That consistent relationship ended after 1997. In the third quarter of 2007, net worth was nearly 20 times GDP but by […]
Whatever will I write about on a no-data Monday? I won- WTF????? Yesterday I was wondering what I might write about today, as there is absolutely *no* data being released. And then I woke up and turned on the intertoobs . . . . OK. Deep breaths. For those of you who wonder what the […]