I went to the crossroad, fell down on my kneesI went to the crossroad, fell down on my kneesasked the lord above "have mercy, now save poor bob, if you please"Yeoo, standin' at the crossroad, tried to flag a rideooo eee, i tried to flag a ridedidn't...
The headline says up 4.5% but that was almost entirely due to a surge in aircraft orders. Ex-transportation, orders were up just 0.1% and core capital goods were down after three straight up months. Read the rest at Econoday  
The world has moved significantly toward freer markets since the 1970s but the outcome has been less than ideal. It is incumbent on the free market missionaries to explain why.
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...
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...
Tim Wu, a Columbia University law professor, has an intriguing opinion article in the Sunday New York Times about the link between big business and fascism. He makes the case that a lack of anti-trust enforcement has contributed to the rise of populism around the world. I don't know...
Howard Gold had an article last week at Marketwatch: Why is the US stock market weak? Because the economy is too strong. What does it mean for the economy to be "too strong"? Isn't growth supposed to be good for stocks? Gold's reasoning is that Fed tightening is driving up the...
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,...