Sunday, March 9, 2014

Wall Street To The Rescue??


  In March of 2011 I had this to say about Puerto Rico and its muni bonds:   The weather is great. The beaches are beautiful. The food is good and the drinks are better. The bonds, on the other hand, don’t get on my “buy” list. … [Continue reading]

Saturday, February 15, 2014

White House: “Weather practically everywhere is being caused by climate change”

U.S. President Obama gets direction from White House science adviser Holdren during event on South Lawn at White House in Washington

  So Obama went to California to talk drought and climate change. He brought some cash with him to help the state cope with the water shortage. The Prez is right to be worried about this drought, after all, Cali is 15% of the US economy. The … [Continue reading]

Tuesday, January 28, 2014

Obama on the Money – SOTU Edition

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  The Big O will give us the SOTU pep talk tonight. Obama will pound on the theme of income inequality in America. A Wordle of the SOTUS will look like:     The President will be using language that misses the mark. The issue at … [Continue reading]

Sunday, January 26, 2014

Which Door Will Yellen Choose?


  Two theories to explain the year-to-date global dumpathon. The first is that it's all local issues - no single macro story explains the depth of the sell off. Some examples (and why they are individually no big deal):   + Turkey is facing … [Continue reading]

Saturday, December 21, 2013

Mel Watt on Fannie and Freddie – I want to go back to 2008

The Carlyle Group prepares to launch its IPO

  When Harry Reid (D-NV) changed the rules on how the Senate votes for a Presidential appointment, he opened the door for a critical change in the leadership at the Federal Housing Finance Authority (FHFA). In short order, the Administrations' … [Continue reading]

Thursday, December 19, 2013

CBO on SS – Another 29′ Crash?

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  The Congressional Budget Office is out with its annual review of Social Security. It's a long report - here's all you need to know:     This result is no surprise. SS's finances deteriorate every year. What I found interesting … [Continue reading]

Thursday, November 21, 2013

Taper Talk is Back – It’s Not Going Away This Time


  The capital market for new issues and refinancing of corporate debt has been on a tear the past few months - I think that ended yesterday.  That's because the dreaded Taper Talk has resurfaced. The Fed minutes yesterday rekindled Fear of … [Continue reading]

Sunday, November 10, 2013

On The Labor Force Participation Rate


  I was blown out by the Labor Force Participation Rate (LFPR) data released Friday. Down 4 tics to 62.8%. That sounds like no big deal, but it is. Either there is something out of whack with the data, and it will be revised, or there will have … [Continue reading]

Monday, November 4, 2013

America’s Income – Who Has It?


  America’s tax system and the major social programs (Medicaid and Obamacare) are driven by income. The Social Security Administration has put out a report on income in America. The data covers all wage earners (153.6 million workers and the … [Continue reading]

Tuesday, October 8, 2013

Me and ACA

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  I tried a bunch of times to get on NYS's health exchange last week. Dead end. The site went down for 'repairs' over the weekend, but as of 8 AM today it was up and running.  Some thoughts. The first step is to get a user ID. For those … [Continue reading]