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

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

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

I can already hear my colleagues saying “non-partisan, yeah really?” Maybe they are right, but you should wait until the end. Partisanship, like beauty, is in the eye of the beholder. I believe that we can all agree that the initial introduction of the fiscal cliff represented an effort to address the significant spread between … Continued

On December 11, 2012, Michigan became the 24th state to pass right-to-work legislation. On the surface, I support the legislation on the grounds that I believe less government is good and it gives power back to the individual. However, I also see the benefit of collective bargaining. For example, in circumstances where employees feel that … Continued

It is becoming increasingly clear that the US is becoming less dependent on foreign energy. On a 12-month rolling average, domestic output hit 6.1 million barrels a day in July, up roughly 19% in three years. In 2005, the US imported 60% of its oil. That’s now down to about 42%. Increases in domestic energy … Continued

With increasing frequency, investors are trying to handicap the upcoming Presidential Election. For example, many investors are in the camp that if Mitt Romney is elected, the market will react favorably. Alternatively, many fear that if President Obama is re-elected, the market may be negatively impacted. As I reflect on the upcoming election, I have … Continued