Episodes

Archegos Capital Management: Overdosed On Leverage.

March 30, 2021

Such is the way that the Prime Brokers work on Wall Street. They deal with the cream of the crop. The very top of the investment world: The Hedge Funds.   Hedge Funds are like no other client, they throw off revenue like no …

How Trade Policy Is Crushing The Stimulus.

March 29, 2021

The report I'm referring to was the Balance of Trade Report released last Friday.   Now, I suppose, that we're all so used to seeing bad trade reports that we didn't spend a lot of time on this one, but this one is special.…

The World Through Chinese Eyes.

March 26, 2021

Yesterday we saw the first Press Conference of the newly installed President Biden. Biden took no questions on China, and only briefly indicated that his approach would be different than his predecessor.   Rather than prese…

The Two Sides Of Stimulus: Labor and Profit.

March 25, 2021

And the timing couldn't be better, because in just a few minutes we will get two reports that will detail the two sides of these stimulus programs. One side wildly successful, the other not so successful.   Today we will hav…

Biden And Trump: The Two Stimulus Plans.

March 24, 2021

Today Chairman of the Federal Reserve, Jerome Powell will testify before the House Committee on Financial Services, tomorrow he will deliver the same remarks before the Senate Committee on Banking, Housing, and Urban Affairs…

We Could Pay For 10 Pandemics.

March 23, 2021

The along came February/March of 2020, and all our lives changed dramatically. The Covid Pandemic struck. Closed shops, social distancing, self-quarantine became a way of life.   But so to did an incredible transformation in…

The Fed Offer's "More Punch!"

March 22, 2021

Last week Chairman of the Federal Reserve, Jerome Powell, held his periodic News Conference following the latest meeting of the Federal Reserve's Open Market Committee. The FOMC is the working body of the Fed that set's shor…

At The Equinox, Everything In Balance?

March 19, 2021

Tomorrow is the Vernal Equinox. Here in the Northern Hemisphere, the beginning of Spring. A time when everything is in balance: the sun crosses the horizon, nighttime and daytime are equal.   A time to celebrate the coming o…

We've Found The Epicenter Of Unemployment.

March 18, 2021

Each Thursday morning, promptly at 8:30 am eastern time, the US Department of Labor dutifully reports the latest numbers on initial and continuing claims for unemployment. This is an eagerly anticipated report coming out of …

Jerome Powell In A Tough Spot!

March 17, 2021

At 2:30 pm this afternoon, Jerome Powell will hold a press conference. It's all part of the regular meeting of the Federal Open Market Committee.   The FOMC meets 8 times a year, and this along with Powell's twin testimonie…

From Stimulus To Constraint, The Fastest Ever.

March 16, 2021

I have a mantra for you today. Just repeat this over and over, as we go through this discussion. “Today is history, tomorrow is now.”

The Fed And Bonds: Act 1.

March 15, 2021

This week the curtain will ring up on the latest drama, in the long history of Wall Street. This week we will see the Bond Market and The Federal Reserve, as the Fed's Open Market committee Meets to ostensibly set short-term…

Inflation: Wall Street's Number One Fear.

March 12, 2021

Yesterday President Joe Biden signed into law the new Economic Stimulus Plan. This is the third Economic Impact Package aimed at providing relief to all sectors of the economy, in an effort to mitigate the devastation brough…

An Anniversary To Remember.

March 11, 2021

I know, it seems much longer than 12 months.   But it was on this date, March 11th, just a year ago that the World Health Organization declared that we were in a Pandemic.   And like the bombing of Pearl Harbor, or 9/11, I…

The Latest Stimulus Package: An Accountant's Nightmare.

March 10, 2021

The latest 1.9 Trillion Dollar Stimulus Package is currently workings its way through Congress. Passed by both the House and Senate, the Package is currently going through the process of reconciling both versions, into one f…

Is ThePresidential Honeymoon Over?

March 9, 2021

Those first few days of a new Presidency are traditionally referred to as the “Honey Moon Period.” It is usually the time when the President and Congress are most closely aligned. As it is assumed that the American people ha…

Lock-Down Or Open Up? Five States Choose Different Directions.

March 8, 2021

Well, this is the biggest contrast in economic policy among the states, since income tax. It was the decision last week of Governor Greg Abbott of Texas to open up the economy of the state.   As you know a majority of the St…

China Highlights Strong Economy At NPC.

March 5, 2021

This weekend sets the stage for what will be the most important aspects of international trade and geopolitics for 2021.   It all began last night with the opening of the 2021 National People's Congress in China. This annual…

An Employment Recession Like No Other.

March 4, 2021

This morning, as happens each week, the Department of Labor once again delivered the latest numbers on initial claims for unemployment.   This is a sad tally of the number of people who lined up at their local State Employme…

Are We In A Stock Market Bubble?

March 3, 2021

“It's easy to recognize a Bubble,” an old trader once told me, “just wait for the crash that follows.”   Funny, he's right of course, but it's less than helpful when you're actually living through one.

How The Three Largest Economies Weathered 2020.

March 2, 2021

What a year 2020 was. Economically it was one of the most destructive years this country has ever lived through. We set a record for the worst economic decline in a quarter, ever. In that devastating 3rd quarter, our nation'…

Income, Income, Just What Is Our Income?

March 1, 2021

A few weeks ago we received a check for $600. If all goes well this week, we should receive another check for an estimated $1400. Did you earn that money. Well I certainly did not.   Both of these checks, assuming this weeks…

Markets Stumble At Nation's Abrupt Change of Direction.

Feb. 26, 2021

Well, It was political theater at its best. There sat the newly installed President Joe Biden, at presumably the Resolute Desk, and before him a stack of Executive Orders. E.O.'s were aimed at dramatically changing the natio…

Out Of Balance: The Story Of The US Economy.

Feb. 25, 2021

Today we have an economy that is equally as unbalanced as the one which headed into the Great Depression. Again this economy is driven by 3/4ers on one side of the production/consumption paradigm.   But this time it's the c…