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The Fed acted. Investors re-acted. MarketWatch: ‘U.S. stocks roared higher Thursday, with the Dow Jones Industrial Average topping the 42,000 milestone for the first time and the S&P 500 also surging to a record close, a day after Federal Reserve Chair Jerome Powell repeatedly used variations on the word “recalibrate” to describe the decision to deliver an extra-large, […]

‘I’d like to do the job sooner’, said a roofer in France. ‘But I can’t find workers. They all want to go to college and get jobs in the city. Air conditioned offices. Coffee machines. That kind of thing.’ Today we wonder what kind of thing that is. Business Insider: ‘A 2021 survey by Pew […]

The big news — the rate cut expected from the Fed — will come to light in a few hours. But what a circus. Here’s the Financial Times: ‘Wall Street has raised its wager on the Federal Reserve making an aggressive half-point cut to US interest rates when it meets this week, with traders now […]

The biggest problem in the US: too much (fake) money. It distorts prices. Perverts federal policies. Makes some people rich, while making most people poorer. The excess money favours Wall Street with trillions in fees and capital growth. But it destroys Main Street with inflation and a lack of real capital investment. It shrinks savings, […]

‘One day pours out its song to another… ‘And one night unfolds knowledge to another’ Psalm 19 ‘I hear you people eat cats’, said the friendly border guard in Dublin. ‘Only in Ohio’, we replied. What a summer! At least, our ex-president made the world laugh. Our current president revealed himself as a mental defective, […]

Yesterday brought news that the stock market had gone up… a little. A photo showed a happy face on Wall Street, and a smile on the face of the newscaster. Rising stock prices are always accompanied by smiles. The back of our envelope tells us that investors are about $250 billion richer today than they […]