A Trend Towards Higher Rates

A Trend Towards Higher Rates

February 10, 2025 The bond market may be starting to worry. Last year was a good one for stocks. The Nasdaq Composite Index gained 28%, the S&P 500 gained 23%, and the Dow Jones Industrial Average rose almost 13%. But if you look closer, both the 30-year and the...
Tariffs, Immigration, And Taxes

Tariffs, Immigration, And Taxes

February 3, 2025 Let’s talk about three key pillars of President Trump’s policy agenda: tariffs, immigration, and taxes. Tariffs have been a Trump centerpiece. He announced his intention to impose 25% tariffs on Mexico and Canada, our two largest trading partners...
An Early Warning Indicator of Market Turbulence

An Early Warning Indicator of Market Turbulence

January 27, 2025 The U.S. stock market had one of its best years ever last year. As of this writing, the S&P 500 was up over 25% for 2024. It marks two consecutive years the S&P 500 had 20% gains or more. If it does it in 2025 too, it’ll be only the...
One Man’s Waste Is Another Man’s Revenue

One Man’s Waste Is Another Man’s Revenue

January 20, 2025 Political types of all stripes love to condemn government waste, fraud, and abuse. That’s easy – who opposes it? The problem is when you get specific. Someone argues this agency or that program should be cut, and disagreement ensues. It’s not always...
Help America with Its Debt Problem

Help America with Its Debt Problem

January 13, 2025 The U.S. budget deficit soared to $258 billion in October. It was one of the biggest monthly deficits on record. Debt as a percentage of economic output (gross domestic product) has increased to 121%. That means we spend $1.21 for every $1 of economic...