Both presidential campaigns emphasized their support for increased infrastructure spending, suggesting that this should not be materially controversial now that the election is over. However, before rushing out to make a big bet on construction industry investments, it might be appropriate to consider some of the obstacles to a rapid build up of infrastructure spending. … Continued

Today is a good opportunity to remind our clients and other readers of the recurring impact on the financial markets of major elections in the US.  As we have seen over the past few days, election news and related uncertainties act as a catalyst for short term common stock price movements.  But, over the long term, … Continued

According to Wikipedia, American exceptionalism is one of three related ideas.  The first is that the history of the U.S. is inherently different from other nations.  The second is the idea that the U.S. has a unique mission to transform the world, as Abraham Lincoln stated in the Gettysburg address.  The third is the sense … Continued

Despite a panoply of investor concerns, domestic equity markets continue their march higher.  Many of these concerns focus on the uncertainty of the post election world.  Not only are investors keeping a close watch on which candidate is elected as our next president, equally important is whether there is a change in control within the … Continued

This is a critical question that frequently crops up in job interviews.  Connecting able and willing workers with potential employers is a major challenge in urban America.  This may also account for some of the unusually low level of work force participation.  It is not unreasonable for someone with no realistic way to get to … Continued

Most individuals recognize the need for some regulations.  However, the key question is, at what point do regulations stop providing a path to an orderly arrangement for community cooperation and become the sand that brings the machinery to a halt? In order to be truly useful, regulations are likely to be the most beneficial when … Continued

The Census Bureau recently reported that 62.9% of households owned a home in the second quarter.  That is the lowest level in 51 years, equaling the home ownership rate in 1965, when the census began tracking the data. Home ownership peaked in 2004 at 69.2%, amid the late and unlamented housing bubble. Is the reduction in … Continued

Demand for electricity tends to peak in the early evening.  Managing peak demand in an environmentally and economically sound matrix is difficult. Load balancing has always been a problem for electric power systems, both because most large scale electric generators operate most efficiently at constant rates and the cost of creating a system that is … Continued

A number of well known companies, such as Tesla, Google, Apple and the auto companies, have demonstrated a significant interest in developing autonomous vehicles ostensibly as a path to reducing human input, which is generally considered to be the primary cause of vehicular accidents.  Considering that more than 30,000 people lose their lives on America’s highways … Continued

Recently released second quarter data suggest that the economic recovery continues to be somewhat lackluster with a seasonally and inflation adjusted increase of 1.2% for the period.  The economy appears to be growing at a 1% rate in 2016 and 2.1% since the end of the recession, the weakest expansion since at least 1949. There … Continued

On the one hand, we have an unemployment rate of 4.7%.  On the other hand, we have essentially record low work force participation of less than 63%.  There are a number of suggested explanations, usually with little or no definitive substantiation. Employers tend to focus on the lack of potential employees with the appropriate skills. … Continued

It is generally accepted that politics and religion are not suitable topics for discussion in polite company. That is probably good advice, but media coverage of politics and the election is going to intensify over the next three months.  This is normal, although this election cycle is generally considered to be unusual.  Both candidates have … Continued