Investment Commentary

Taxes and Tax Reform…

No one seems to know what the plan is – that is the Biden tax plan to pay for the “Build Back America Better” infrastructure plan, a plan which has…

A Couple of Conversations…

Dialing Hong Kong China has been much in the news of recent. More specifically, President Xi and his pronouncements have captured a lot of newsprint. To many in the markets…

Replacement Parts

For some there has been for several months a “return to work” hesitancy. Unemployment benefits too generous, Covid worries too great, schools closed and childcare services too hard to find…

Mid-Summer Musings…

Two fundamental forces move equity prices – earnings and interest rates. Of course, there can be other influences like politics, pandemics or wars at any particular moment in time which…

EFFICIENCY OR RESILIENCE…PERHAPS BOTH

Shortfalls of numerous products and materials have “thrown sand into the workings of manufacturing” around the world and has led to increases in inflation numbers, upsetting central bankers and investors.…

Private Money…

Over our nation’s history, we have had private citizens and businesses issue money. For example, in 1830, 90% of the U.S. money supply took the form of private banknotes. Canal,…

Alienation…

U.S. and global economies are evidencing a strong economic recovery unfolding as people around the world get back to work. Data firm IHS Markit recently reported that its April Services…

Shifting Sands…

Underfoot there has been something of a shift in investment strategies. So far, it is not huge in scope or long in duration – but it has been noticeable. Growth…

Demand Pull or Supply Push…

Inflation is again becoming a topic of conversation in the markets – especially the bond market. Already bond yields have risen some 40 basis points (BPS) on the 10-year Treasury…

Consumption…

We have mentioned in the past that the U.S. economy is largely driven by the U.S. consumer. To refresh memories and to help visualize our point, please look at the…
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