Where’s the Beef?

Since March, the Federal Reserve has rapidly hiked its overnight lending rate in an effort to curtail inflation. It may be working. However, the more important work to beat back inflation involves removing trillions of dollars from the financial system. Specifically,...

Lies, Bigger Lies, and Economic Data

It was the worst of times, it was the best of times. On Friday, the Bureau of Labor Statistics (BLS) revealed that the country created more than 500,000 jobs in July. Equally terrific? The data show gains of nearly 1.7 million new positions in just 5 months....

Strangest Things

Is the U.S. economy experiencing a recession? Technically… yes. According to the world’s leading dictionary publisher, Oxford Languages, a recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally...

Reverse Wealth Effect

Households as well as businesses feel wealthier when their stocks, bonds and real estate are gaining in value. It’s called the wealth effect. The problem with wealth effects? They often reverse course and, eventually, cause market participants to curb...

Are You Inverted?

Scores of pundits are getting bullish on stocks. Their reasoning? We may have reached peak pessimism. For example, small businesses have never expressed more concern about the outlook for future business conditions. However, the stock market is probably not...