Looking Backwards … LB #1 I’d love to sit here this week and roast my chestnuts on an open fire, sing Kumbaya, and tell you everything is going to be all right. That is not the case. Let’s begin with Matt Egan and CNN, “Many Americans would love to buy a home, but they don’t …
LBLF
Looking Backwards … LB #1 The weird thing about being pinched is that it doesn’t hurt at first. If I reach out and touch a rock that is too close to a fire, I instantly feel the burn, much like obese America in a Tai Chi Class. However, if I am being pinched it starts …
Looking Backwards … LB #1 This week saw producer price inflation come in hotter than expected, consumer price inflation come in pretty much as expected and the market running to new all- time highs because it didn’t care. Rate cuts are coming, and the market is going to dance, dance, dance. Gold and silver also …
Looking Backwards … LB #1 Lyin’ Joe Biden as Johhny Carson used to call him got interviewed Wednesday on CNN by Erin Burnett. Folks, he had better not do a debate, not against Trump, not against RFK Jr, not against a golden retriever. I’ve seen drunk parrots with better communication skills. This wasn’t a tough …
Looking Backwards … LB #1 A few months ago, I read the book “These are the Plunderers by Gretchen Morgenson and Joshua Rosner.” It is a detailed account of how private equity works. They use the system of capitalism to wreck businesses, communities, and lives. They own many retirement homes and cut services and the …
Looking Backwards … LB #1 I was all ready to write about the GDP report that came out Wednesday that reported slower growth as 1st quarter GDP came in at 1.6% versus the 3.5% expected and inflation was shown to be increasing. The word stagflation was bandied about with real concern. It seems the economy …
Looking Backwards … LB #1 We have discussed the unsustainable fiscal path that the United States is on, and this was pointed out by Moody’s when they warned about our credit and possible downgrades, but now there is another agency that is shining the light on the US. The IMF had their big meetings in …
Looking Backwards … LB #1 On Saturday, Iran sent dozens upon dozens of drones and missiles toward Israel in response to the Israeli bombing of their top commander in Syria last week. The US has sent air defense forces to intercept incoming aerial projectiles and the Israeli Iron dome defense seems to be getting the …
Looking Backwards … LB #1 Tom Hanks’ character Jimmie Dugan once signed an autograph “Avoid the clap, Jimmie Dugan” in the movie A League of their Own. His advice is timeless because some things once caught are tough to get rid of. Inflation is the financial equivalent of a sexually transmitted disease. It is hard …
Backwards … LB #1 Today we start off by mourning the death of an intellectual giant. Daniel Kahneman was, is, and forever will be the godfather of behavioral economics. He and his friend Amos Tversky upended economics in proving that people don’t actually respond to complex situations rationally. They dislike losing more than they enjoy …