COVID-19. No one has seen anything like it before and hopefully we’ll never see anything like it again. As the pandemic swept across the United States, it swept millions of people onto the unemployment rolls creating the highest level of unemployment among Americans since the Great Depression.
Congress passed the...
Most everyone has heard of the Chinese proverb – or curse – that wishes one to live in “interesting times”. You’ve probably also heard that in Chinese the word “crisis” is composed of two symbols, one that denotes “danger” and another that means “opportunity”. Well we certainly live in...
By Rafael A. Perez, Esq., Partner at McArdle, Perez & Franco P.L. and Chief Compliance Officer at Alhambra Investments
Introduction: Over the past several decades of practicing real estate law I have had many clients, both domestic and foreign, ask me to apply for an extension of a like-kind exchange...
Everyone, or at least all the right-thinking people, believes that capitalism needs to be reformed. Elizabeth Warren calls her version Accountable Capitalism. Marco Rubio dusted off an 1891 speech by Pope Leo to advocate what he calls Common Good Capitalism. Both are attempts to correct what these lawyers see...
Stocks took another beating last week as the scope of the coronavirus shutdown started to sink in. The S&P 500 was down 15% last week with most of that coming on Monday after the Fed’s emergency rate cuts. Our accounts performed much better than that, but were still down...
Last week was one of the worst weeks in the history of the US stock market. Thursday’s plunge was the worst one-day loss other than the crash of 1987. Friday’s recovery was stunning as well but big rallies are typical of bear markets and that is, unfortunately, where we...
As I sit
here Monday evening with the Dow having closed down 2000 points and the 10-year
Treasury yield around 0.5%, the title of this update seems utterly ridiculous.
With the new coronavirus still spreading and a collapse in oil prices
threatening the entire shale oil industry, recession is now the expected
outcome. Most...
Is the Fed’s monetary tightening about over? Maybe, maybe not but there does seem to be some disagreement between Jerome Powell and his Vice Chair, Richard Clarida. Powell said just a little over a month ago that the Fed Funds rate was still “a long way from neutral” and that...