Lots of "english" on that US Goal

England takes its “football” very seriously. This goal had to kill them. I can see the brooding in pubs happening all over the country. The English side played a lot prettier game than the American side. I am not an …

Career Politician Makes Him Market Savant

Bart Chilton is a career Democratic politician.  He has never worked in the private sector. Not even a college graduate.  No economics background.  Yet, he is a major force in finance as a commissioner of the CFTC.  The WSJ profiles …

Been Pondering the Low Rate Policy Awhile

I am uncomfortable with the quantitative ease and ultra low rate policy the Federal Reserve is pursuing. It has not proven to be inflationary yet. Also, modern economic theory would point policy in the direction of low rates. Essentially, the …

Union Pension Fund

Unions are supposedly looking out for their members. Supposedly, they create higher incomes, help union members save for retirement.  I don’t buy that argument in this day and age.  It might have been true in 1900, but times are far …

Substitutes

Retail sales took another tumble this morning, down 1.2%. Consumers are adjusting. Some would say, unemployment is high, no surprise that consumers are not spending. However, macroeconomic numbers like the diesel fuel index, shipping indexes have been rising, so many …

Out of Touch With Reality

http://www.youtube.com/watch?v=A0rO4GczfzU Presidential Press Secy Robert Gibbs says the CEO of a company can’t act without talking to his board! What an idiotic statement. Clearly, Mr. Gibbs has never been in private industry. The CEO of a company is only accountable …

Congratulations Chicago Black Hawks!!!!!!!!

WOW! What a night. Congratulations to the Chicago Black Hawks. You guys really made Chicago happy. The wounds of hundreds of thousands long suffering hockey fans were repaired last night. The Black Hawks were one of the worst, if not …

Mario Gabelli Drinks the Kool Aid

On CNBC’s Squawk Box this morning at 7:13 AM CDT, Mario Gabelli said he wanted to see a tax on hedge funds, high frequency traders(HFT), and other traders that are in/out traders. I smell a rat. What possible benefit does …

Fannie and Freddie are Government Jobs

If Fannie and Freddie were private organizations, they could have a private pay scale. As taxpayer funded entities, why are they being paid like private enterprise? It’s a fair question. Pre-crash, they were private but had the implicit guarantee of …

Focus on Supply, not Demand

Interest rates are at 0% for banks, and will remain there for a while.  The Federal Reserve has kept it’s printing press in high gear. The Congress has passed spending bill after spending bill designed to prime the pump for …

Oil, it Spills

Let’s try to cut through all the hyperbole in the oil debate. It’s better to look at reality, especially through the lens of economics. Here are some facts: Green jobs are not economical. They are heavily subsidized by taxpayers. In …

Why Government Jobs Don't Work

This is truly a scandal.  Neil Cavuto uncovers census worker scandal.  James O’ Keefe also uncovered census worker scandal.  This is just one example of why the multiplier of government spending in the economy is 0.  Governments cannot “invest”, they …

Market Psyche

Yesterday’s market action was weird at best.  Not data driven, the market traded in a tight range for much of the day, then it went lower.  Bear markets are like that.  So are bulls.  In a bull market on a …

I Can't Believe He Said That

Steadman Graham, Oprah’s significant other said Chicago didn’t appreciate her!  Wow.  Someone ought to stuff a sock in Steddy’s mouth.  What an idiot.  Let’s review the facts.  Oprah comes to Chicago, hosts a local TV show.  Becomes popular.  Gets entrepreneurial, …

Video from Jun 2, 2010

CME Group publishes daily market commentary now.  You can find it at the media links.  They publish commentary for grains, metal, financials, energy. Here is one I did the other day.  Of course, the advice is free, so you get …

Stocktwits Stock Camp at CME Group

On June 2, I participated in a Stocktwits.com boot camp. It was a lot of fun. People from all over the country were there. Met some great people from San Francisco, and North Carolina. Here is the video.

Accounting versus Economics

Companies are reporting profits this year. There was a slew of them today. Guess what? It’s a mirage. As Arthur Laffer correctly points out in today’s WSJ, incentives matter. Companies can organize their accounting practically any way they want.  They …

Uh-Oh, Market Down Again; Momentum

These breaks get momentum. I remember during the week before the crash in 1987. My wife had won an awards trip to Palm Desert. We were relaxing with corporate people and each day the market was tanking. One executive asked …