Monthly Archives: August 2014

Fed Survey: Obamacare Impedes Hiring, Curbs Wage Gains

Although Chair Yellen is still mum on the topic, Federal Reserve economists have belatedly started to study the impact of Obamacare on employment and wages. Economists in three regions (San Francisco, Philadelphia, New York) used identical questions to survey employers … Continue reading

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Stock Prices Will Grind Higher

After being long and wrong in 2007 and 2008, I have been correctly bullish on stocks for the last few years, arguing they would scale the proverbial wall of worry. Bonds, on the other hand, have looked to me to … Continue reading

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The “Philadelphia Negro,” Then and Now

In 1896 a brilliant scholar who received his PhD from Harvard and went on to study in Europe with such luminaries as Max Weber was engaged by wealthy philanthropists to prepare a sociological study of Philadelphia’s black population. Their motives … Continue reading

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Bloomberg Befuddled by Racial Incorrectness

It’s not often I have money-making advice for Mike Bloomberg, but here’s a suggestion: You could improve the ratings of Bloomberg Radio/TV by finding one or two conservatives to spice up the conversation, as Joe Kernen and Rick Santelli do … Continue reading

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How Overvalued Are High Yield Stocks? We Deploy the PETTR Principal

Today’s 30-point sell-off in the S&P 500 is consistent with my warning a few weeks ago that the Fed was “behind the curve.” It made no sense, I argued, for Chair Yellen to still be pursuing an emergency monetary policy, … Continue reading

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