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 …
LBLF
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 …
Looking Backwards … LB #1 When the Fed left interest rates unchanged and said that their dot plots still see an average of 3 cuts in 2024, the markets rejoiced. Remember when the Fed said they would cut three times 5 months ago and the market melted higher in on of the quickest rallies in …
Looking Backwards … LB #1 College Fix writes that the mission statement has changed at the United States Military Academy at West Point. You will remember on December 10, 2022 we wrote extensively on this very site with high admiration for the academy and the ability to turn out fine human beings as leaders for …
Looking Backwards … LB #1 A few weeks back, I called the end of New York Community Bank. I was wrong. The market managed to save itself, but on Wednesday it appeared the end was near again. The stock, which was already down 60% in the last year, was down 25% or so and trading …