Front page headline, February 12, 2013 Wall Street Journal– “Millions Improperly Used Phone Program”. . Business front page headline, February 12, 2013 New York Times– “Waste Is Seen in Program to Give Internet Access to Rural U.S.” Opposite ends of the political spectrum, but same conclusion. How much more is wasted by the US government … Continued
This week’s Sunday New York Times carried an editorial about some shortcomings of the Affordable Care Act (Read article here). In particular, it cites a recent interpretation of a particular clause of the law made by the Internal Revenue Service which results in more modest subsidies for health insurance coverage than it feels is appropriate. … Continued
Yes, but perhaps not as soon as many expect. It is well-established that many of the world’s governments, including our own, are printing money and, historically, this has proven to be inflationary which usually leads to higher interest rates. However, up to now, money printing has not led to significant, broadly-based inflation. The Fed has … Continued
These two high-profile issues have been receiving a great deal of attention and can materially affect personal finances. However, in both cases, more important issues, critical to the decision process, are getting less attention. Consider interest rates. Many investors are disappointed in returns hovering around 2-3%, compared to historical expectations in the 4-6% range. As … Continued
Phil Mickelson, one of the world’s leading golfers, reportedly sent shock waves at last weekend’s golf tournament when he said “there are going to be some serious changes for me because I happen to be in that zone that has been targeted both federally and by the state. And, you know, it doesn’t work for … Continued
I hope on this day, the second inauguration of President Obama, that he and the republicans in Congress hold it in their hearts to compromise where needed to advance the cause of ALL Americans. Comments or questions welcomed. Bob Bilkie, CFA
In 1977, the US Government passed the Community Reinvestment Act. According to Wikipedia, the purpose of the law was to compel banks and other lenders (at the risk of losing their charters) to “…reduce discriminatory credit practices against low-income neighborhoods, a practice known as redlining.” Flash forward to the Dodd-Frank Wall Street Reform and Consumer … Continued
Short answer: Of course not, he is restricted to two terms. Longer answer: He wants to see Nancy Pelosi reelected as Speaker of the House. It is clear that he enjoyed the first two years of his first term more than the second two years. He is now faced with another two years of disputes … Continued
Industry sales of light vehicles increased 13.4% to 14.5 million units compared to 12.8 million in 2011. By any measure, this represented another year of strong recovery and was certainly a key factor in providing additional employment at both the OEM and supplier levels. Industry observers are expecting further gains in 2013. Rising sales also … Continued
Thomas Friedman, columnist for the New York Times, wrote an outstanding editorial, “More Risk-Taking, Less Poll-Taking”, in yesterday’s paper. The concluding paragraph, cited below, sums up the gist of the article and is worth reading and contemplating at length. Much wisdom regarding the improvement in our country’s fortunes rests in these words. ‘Obama has spent … Continued
While there is considerable disagreement as to how to address debt, taxes, spending and all of the other components of the “fiscal cliff”, there is a significant consensus supporting the idea that a growing economy would make finding solutions easier. There also seems to be general agreement that unemployment is a real problem. In other … Continued
After reading Bob Bilkie’s blog, “Again, “It’s the economy, stupid.”, I was inspired to do more research into the most recent election results. Bob’s blog made the argument that Republicans gained in numbers at the state level where they may have been more concerned about fiscal issues, but voted based on social issues at the … Continued
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