How Long? How Bad? | June 18, 2022

How Long? How Bad? As we have stated numerous times, we are faced with a menu of bad options. After 20+ years of ever-increasing, Fed-induced, financial largesse, inflation has turned the tables and we face the inevitable reversal of that largesse. There are no good options. The Fed will remain optimistic to the end, but […]
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SNAP Judgement | May 28, 2022

SNAP Judgment After reporting slightly disappointing earnings on April 21, just over a month later, on May 23, SNAP, Inc. (owner of social media app SnapChat – ask your kids if you are not familiar) had this to say: “Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster […]
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Back to the Future | May 15, 2021

Back to the Future Inflation is an enemy we have not seen for a long time. Housing inflation can be particularly harmful because housing is about 17% of GDP. Building costs are rising rapidly. Existing home prices are rising rapidly. Unless incomes rise rapidly too, we are headed for a fall. Last week we discussed […]
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