Maybe you saw it scrolling through your Twitter feed. (Or maybe you’re smart and avoid Twitter like the plague.) It was testimony by bank CEOs in front of the House Financial Services Committee. Congresswoman Talib took the floor and rambled on and on, spouting a bunch of ESG talking points, about adjusting lending practices to …
It seems like Toyota is catching some flak lately. Why? While many automakers have committed billions of dollars in recent years to develop all-electric vehicles, Toyota has approached the technology with far more caution – opting instead to continue investing in a portfolio of hybrid “electrified” vehicles, such as the Prius. Remember the Prius? It …
This may sound crazy, but hear me out… It could be time to start looking into gas and oil stocks. I know, I know. I’ve been writing about how the Biden administration has put us on a burn the ships path to green energy while putting the fossil fuel industry out of business. And that …
The Unavoidable Fossil Fuel Boom (Yes… It’s Coming) Read More »
The government has a knack for coming up with “new” things when the “old” things don’t want to work anymore. For example… Quantitative Easing. Prior to 2009, that phrase (and the concept behind it) did not exist in any economic vocabulary. Back in the good old days of the early 21st century, if the Fed …
Last week the market got a jolt from an earnings guidance report that wasn’t supposed to happen. In the spirit of “let’s just rip the damn band aid off,” FedEx issued a pre-announcement last Thursday nearly a week ahead of its regularly scheduled earnings call. It was an ugly — and I mean ugly — report. …
It was a really awkward political display. On Tuesday this week, the Biden administration threw what they called an “Inflation Reduction Party” to celebrate the passage of their most recent spending bill legislative victory — the Inflation Reduction Act. I ran through the bill briefly here. Everyone was there. James Taylor even kicked the event …
About a year ago I wrote an article about economic reports. The bottom line of the article was that reports don’t matter, until they matter. (Or put another way — like my money supply example in the article — they matter until they don’t.) These days, the reports that “matter” at any given time are …
This Obscure Economic Report is Signaling Trouble Read More »
Big day today! The Bureau of Labor Statistics released its CPI inflation report for the month of August. Being that I have to get these letters to my editor in advance of publication, I don’t know what got printed or how the market reacted. But with year-over-year inflation sitting near 40-year highs (a brief downtick …
California is nuts… On Aug. 25, the California Air Resources Board voted to ban the sale of gas-powered cars entirely by 2035… And it appears to be contagious… New York, Massachusetts, Vermont, Maine, Pennsylvania, Connecticut, Rhode Island, Washington, Oregon, New Jersey, Maryland, Delaware, Colorado, Minnesota, Nevada, Virginia, and New Mexico have all chosen to opt …
It might have been the shortest Fed speech in history. At least I can’t remember one this short. A week ago Friday, at the Fed’s Jackson Hole symposium, Jay Powell stepped up to the mic and took 9 minutes — just 9 minutes — to announce to the market and the world that “price stability” …
