by Daniel White | Jun 22, 2020 | Economy
In the past, we’ve talked about firms that can’t service their debt without borrowing more money. These “walking dead” companies are getting new injections of life now because of the Federal Reserve’s policies and huge balance sheet expansion. Let’s face it, free...
by Daniel White | Jun 15, 2020 | Economy
June 15, 2020 The early part of 2020 has been wild. Between a pandemic, record unemployment, and near-record equity market returns, I’m surprised any of us know which way is up, and which is down. Well, add another head scratcher to the list – conditions seem to be in...
by Daniel White | Jun 8, 2020 | Economy
June 8, 2020 The Chairman of the Federal Reserve, Jerome Powell, recently did an interview on 60 Minutes. It was historic in the sense that the Fed chair hardly ever speaks in dire terms about the American economy and rarely uses the term “extraordinary.” He said,...
by Daniel White | Jun 1, 2020 | Economy
June 1, 2020 Thanks to COVID-19, there is a huge disconnect between Wall Street and Main Street…again. Despite what’s happening all over the country in terms of unemployment and a general lull in economic activity, the S&P 500 isn’t far off from its all-time high....
by Daniel White | May 25, 2020 | Economy
May 25, 2020 I know we’re in a pandemic, but the Federal Reserve’s recent agenda is rather incredible. The Federal Funds Rate is basically 0 percent. On top of that, COVID-19 fiscal stimulus will push our 2020 deficit to near $4 trillion. The central bank is...
by Daniel White | May 18, 2020 | Economy
May 18, 2020 Two observations struck me lately that I think could foretell our days ahead. First off, tens of billions of dollars in rent went unpaid last month. Through the first five days of April, 31 percent of tenants had not paid their rent, up from 18...
