No Surprises

No Surprises The Fed meeting in Jackson Hole continues as this is written, but Chair Powell’s comments on Friday morning, the ‘highlight’ of the confab, were no surprise. Chair Powell reiterated that the inflation target is 2%, not 3% as some on Wall St. have speculated, and with rates at or near restrictive territory, any […]
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Making Ends Meet

Making Ends Meet Many market pundits are predicting that inflation will stabilize at a higher rate than the 2% Fed target. The rationale is that as inflation comes down, the Fed does not want to force inflation to 2% and risk a bad recession. As a result, Inflation is more likely to level off around […]
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That’s A Lot of Manure

That’s A Lot of Manure Economic history is full of roadblocks, things that appear impossible to overcome, until some technological advance comes along and changes the dynamics completely. Railroads changed U.S. transportation in the late 1800’s, fertilizers changed our ability to feed a growing global population. Even the automobile, now the bane of environmentalists, was […]
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Keep Calm and Carry On

Keep Calm and Carry On “God is Great, Beer is Good, and People are Crazy.” Country music fans will surely recognize the lyrics from Billy Currington’s famous song. These words come to mind because the first half of this year was absolutely crazy and had us thinking about drinking on more than a few occasions. […]
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Picks and Shovels

Picks and Shovels The 1848 discovery of gold at Sutter’s Mill in Coloma, California resulted in several hundred thousand prospectors rushing to strike it rich during the California Gold Rush. For most, the dream of riches remained just that, as most prospectors had little to show for their efforts. However, you did not have to […]
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Wherever You Go, There You Are

Wherever You Go, There You Are The market is expert at making prognosticators look foolish. Great Depression-era economist John Maynard Keynes, the primary architect of modern economics, once said “Markets can remain irrational longer than you can remain solvent”. It essentially means that the market has a mind of its own. It is more than […]
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Liquidity

Liquidity Liquidity is one of the most confusing words in finance. The fact that it has multiple meanings, depending on the topic at hand, certainly doesn’t help matters. While we prefer to avoid that word, this is one of those times when it is unavoidable. In this case, liquidity is the amount of money sloshing […]
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