Both Trump and Biden have proposed $2 trillion spending plans for next year, confirming exactly what we wrote last December. To the dollar. To the wor…
A sideways moment is when your life becomes a probabilistic exercise, where you are at the mercy of one of two merciless social institutions: hospital…
The Fed completes its transformation of the credit market into a political utility, the EU tops the US in economic growth prospects for the first time…
We all know someone who is in urgent-but-not-emergency need of some medical procedure that can't be scheduled while Covid-19 is storming the hospital …
What's happening with the Bureau of Labor Statistics with recent employment data reports is an intentional, political carelessness that supports statu…
I know it's forbidden to say this, but I like Woody Allen movies. If you've never seen "Everything You Always Wanted to Know About Sex* ... But Were A…
The dominant COVID-19 narrative today is a "short and deep" economic impact, with a corollary narrative of "pent-up demand". These are market-positive…
In 2008, the market came roaring back after Bear Stearns was sold for parts to Jamie Dimon. Why? Because narrative. Because with Bear's elimination, "…