An approaching financial crisis — reality or myth?

The data seen so far in Q2 are somewhat better than Q1, and Q1’s real GDP growth has been upgraded from a miserable 0.5 percent to a miserly 0.8 percent. The U.S. economy remains in first gear, mainly due to the oil patch and continued sluggish manufacturing activity. With such poor results from a record-breaking […]

Anti-growth policies hurt investors

The stall-out in the U.S. economy and in most major world economies has baffled policymakers. No matter what they try in today’s economic environment, it hasn’t worked for more than a short period of time. Quantitative easing appeared to work when first tried during the Great Recession, but now, as Japan and Europe have found, […]

When policies are anti-growth, sell the rallies and buy the dips

The equity markets are generally forward-looking. That’s why you have price movements that seem incompatible with the latest economic (backward-looking) data. The equity market today, as seen through the eyes of the S&P 500, has been flirting with all-time highs while the economic data indicate that the economy continues on feeble legs. So, just as […]