Investment Commentary

Dividend Cut…

In 1992 George H.W. Bush proclaimed, “We can reap a genuine peace dividend this year and then year after year, in the form of permanently reduced defense budgets”.  As can…

Following Up On A Point…

In our quarterly Commentary issued late last month, we wrote briefly on labor cost inflation due to the “graying” of our population and recent pandemic sickness.  As to the former,…

Observations During Q1…

OUR LABOR PUZZLE……. It has continued to be the case that labor shortages in too many businesses have been a major headache.  “Tight” labor markets have led to higher payrolls…

Into The New Year …

As we start 2023, let’s take a look at a chart put out by the Chicago Fed, the Financial Conditions Index, which measures the current economic conditions in the US…

Are We There Yet? …

What parent has not heard that oft repeated question from the back seat of a car: “are we there yet”?  Usually, the repetition of the question picks up nearer the…

You’re Always On My Mind…

“YOU’RE ALWAYS ON MY MIND…….YOU’RE ALWAYS ON MY MIND……” Willie Nelson, Singer/Song writer Inflation is on everyone’s mind, all the time.  There is no economic indicator which carries as much…

The Only Thing…

“The only thing that’s new is the history you don’t know.” Harry S. Truman Anxiety, dread, sleepless nights – all valid descriptors of investor life today and for the past…

The China Brake, Money Supply and Inflation…

Not fully appreciated by those who worry loudly about U.S. inflation is the impact of a near flatlined Chinese economy on world inflation.  China is the world’s second biggest economy…

Let’s Add This Up…

Before trying to foretell too much about the future, let’s “set the table”.  Let’s see where we are economically, financially and sentimentally – then launch into what we may see. …

Real Estate – An Inflation Canary…

Residential real estate prices, after years of boom, look to be rolling over. Why have prices rolled over? Simply, it is a matter of price – the price of a…
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