by Gary Gordon | May 29, 2020
Households continue to struggle to pay regular bills, with more than one third looking to delay rent, cell phone charges and other utility payments. That will put a strain on discretionary spending. They certainly don’t seem to be in the market for new cars. And...
by Gary Gordon | May 28, 2020
Suddenly, small caps are all the rage. Never mind the job losses or the unfathomable overvaluation. Investors are choosing to pay the highest price in history for small company exposure. Granted, small stocks are still down roughly 15% from all-time highs. And they...
by Gary Gordon | May 26, 2020
The S&P 500 crossed back above the 3000 marker, despite extraordinary stock overvaluation and economic malaise. It is almost as if investors have decided that the hope for a vaccine can override the credit cycle’s downturn. For example, when ratings agencies...
by Gary Gordon | May 21, 2020
The notion that the bear market for U.S. stocks has ended is fanciful. For example, is it really the case that financial firms are on the mend? They’re restricting access to credit, increasing reserves for loan losses and showing few signs of resilience beyond a...
by Gary Gordon | May 19, 2020
Many describe the U.S. as a consumer-oriented economy. That is because consumer spending, not manufacturing, accounts for two-thirds to three-fourths of economic growth. It follows that consumers need to spend for the economy to do well. Yet, at the moment, one-third...
