The Economy: Damaged Labor Markets; An Inflation Head Fake

On Friday, February 5, markets were set to rise no matter what the employment data showed.  If they beat to the upside, that would validate the reflation/pent-up demand narrative.  If they disappointed, well, that would simply mean more fiscal and monetary largesse (which financial markets love).  Either way, heads markets rise; tails, ditto. Labor Market […]

The Recovery Will Be Weaker And It Will Take Longer

While markets were slightly higher on the week (see table), there was a clear rotation back toward technology after several weeks of a lull for that sector.  This is clearly shown by the week’s Nasdaq outperformance.   January 22 January 15 % Change DJIA 30,997 30,814 +0.6% Nasdaq 13,543 12,999 +4.2% S&P 500 3,841 3,768 […]

Bitcoin: A Primer What Investors Need to Know

Bitcoin; everyone is talking about it.  That’s what happens when the perceived value of something rises 2,000% in a year.  (The value of Bitcoin, in terms of dollars, was under $1,000 at the start of 2107, and, as of this writing (December 18, 2017), has been as high as $20,000. Bitcoin boasts of its “Blockchain” […]