Warren Buffett’s Taxes
For some strange reason, probably because this is an election year, I decided to watch President Obama’s State of the Union address tonight. I usually avoid watching because I don’t need to elevate my blood pressure beyond what’s safe, given my...Connecting the Dots
Yesterday the Labor Department released the employment statistics for October. I prefer to refer to is as “employment” rather than “unemployment”. While it may seem to be nothing more than semantics, it is more positive. The good news is that...Chickens and the Roost
Yes, the chickens are coming home to roost. All of a sudden, the man who had all the answers three years ago has none. He was calm, cool and collected. He convinced the American citizenry that he could solve all of the country’s problems, and that it was...Obama’s Economy
Every once in a while, and in the case of several of the Wall Street Journal’s editoral staff, there is clarity. Today’s column by Daniel Henniger provides such clarity. Here’s the link: ...Supply and Da Man
First of all, a wonderful Memorial Day to you all. I pray that your travels, picnics, barbeques and parties would be safe and fun. And let’s remember our fallen heroes, who without them and their ultimate sacrifice, we wouldn’t have the freedom to enjoy...Supply and Da Man
U.S. markets closed off today, while foreign markets ended generally positive. A bright spot in the US economy was the release of new home sales, which were estimated to be up 7.3% in April, to 323,000 new homes sold. This represents the fourth month in a row of increasing new home sales, but we're coming off a dismal low. In 2005, 1.4 million new homes were sold.
The housing market reflects a classic supply/demand equation. The supply of housing far outstrips demand, and with a glut of foreclosed homes still in the market, the housing market is unlikely to return to 2005 levels for several years.
The markets seemed to be more concerned with the nation of Greece's ability to service it's debt. Keep in mind that about the only difference between Greece and the United States is 270 million people. Investors have yet to figure that out.
Chrysler today repaid $7.6 billion in government loans to the United States and Canada. Perhaps this will [...]
Wisconsin: Not Just Cheeseheads After All
Who would have thought that the state with the first Socialist governor and subsequent Socialist Party candidate for President, Robert LaFollette, would be the first state to actively attempt to bring the public employee unions under control? What’s next? ...A New Year, A New Congress
Out with the old, in with the new, goes the standard cliche every year about this time. No, this is not a reference to Nancy Pelosi's age, although incoming House Speaker John Boehner is 9 years younger. Speaker Boehner does represent a new attitude and the resulting optimism is being reflected in the markets and the broader economy.
Consider:
- Retail sales, Christmas sales, were up significantly over 2009
- Consumer and business confidence for November and December have inched higher
- Jobless numbers are moving downward, evidenced by today's ADP employment report that suggested 297,000 new private sector jobs were created in December (this is a big number!)
The Big Spanking
Our grandchildren were over last weekend–two boys ages 5 and 3. At one point the 3-year-old was telling me about being disobedient and how Daddy had to give him a big spanking. Now I know my son and I’m sure that he was providing gentle discipline, but...Stay in Touch
