Recent reports from the National Oceanic and Atmospheric Administration (NOAA) and the Army Corps of Engineers (the Corps) suggest that water levels in the Great Lakes are likely to stay at or above the long-term average over the next six months. With the exception of Lake Ontario, lake levels are currently above the seasonal long-term … Continued
The January 3, 2016 New York Times carried an article titled, “A Smarter Plan to Make Retirement Savings Last.” Pardon my skepticism, but I was taken aback by this statement from the article: “Instead, low-fee diversified retirement portfolios would be created by a board of professionals who would be fiduciaries appointed by the president and … Continued
“Let us enter the New Year cheerfully. Let us resolve to look on the bright side, to make the best of whatever may befall, to maintain faith that doing the right thing will ultimately bring victory. Let us cultivate sunniness, resist sourness. We can better wrestle with difficulties, obstacles, problems in a spirit of buoyancy … Continued
Over the last several years there have been a number of proposals by economists and political scientists that would substitute universal basic income policies as credible alternatives to existing social programs such as unemployment insurance. The idea is straight forward: Provide citizens with a minimum allowance, without means-testing, that would give everyone the means to … Continued
Within the past week, common stock prices have gyrated widely (again). The bias has been to the downside. The cause du jour is high yield bonds and concerns over the solvency of some of the issuers of this low rated debt, and liquidity for buyers and sellers of their debt securities. In particular, energy companies … Continued
It appears very likely that, in 2016, U.S. sales of motor vehicles will exceed 18.0 million, a new record, handily topping the previous record of 17.35 million vehicles in 2000. This is very good news, supporting an improving economy and providing the background for strong wage gains for auto workers. Unfortunately, history tells us that … Continued
One of the more interesting business conundrums is; are prices set by costs or are costs reflective of prices? Clearly, there are no easy answers. Many business contracts are negotiated on a “cost/plus” basis, while others are based on a firm bid price for a specific product or service. Investors should be aware of the … Continued
Over the years, we have all probably been encouraged to save, first by parents and then by assorted financial advisors. Clearly, saving is important and most of us should have cash reserves to cover several months of expenses and be putting something aside for retirement. To that extent, saving is good. The big picture … Continued
Fed watchers have stepped up speculation regarding possible Fed action in December. The consensus appears to be moving toward a “one and done” theory, whereby the Fed would introduce a modest increase in interest rates in December and then do nothing further for an extended period. Does this make sense? If the Fed is increasing … Continued
A proliferation of rapid-delivery apps has turned the smart phone into a magic wand that can direct a wide variety of products and services to your door. Of course, instant gratification tends to carry a price, with a plethora of fees, and delivery and service charges. Is it worth it? That is the critical question … Continued
There are several topics that are generally considered to be inappropriate for social gatherings involving strangers. High on the list are politics, religion and grandchildren. Never-the-less, it is important for investors to be current and fully aware of what is going on regarding both politics and religion. It is also essential that investors distinguish between … Continued
Over the last several years we have seen a significant increase in the Federal debt and the recently concluded budget deal suggests that both political parties are now on board for continuing deficit spending. Moreover, this antipathy to fiscal austerity is currently in vogue around the globe. Conventional wisdom would hold that continuing deficit spending … Continued
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