Last night, I toyed with writing a blog that said the market would open today — up or down — depending on four things that would occur before the opening. On Thursday night, Google would announce its earnings and China would announce its GDP growth rate for the first quarter. This morning, both JP Morgan … Continue reading The Wisdom of the Market ?
The Flinchum FileThoughtful Economic Analysis and Existential Opinions
For the third year in a row, the rites of Spring include a European panic attack. Today, it became clear that Spain is going down the same trail as Greece. While their interest rates have not reached earlier highs, the spread between their rates and the rates of Germany have reached a record high. The … Continue reading Here We Go Again . . . ??
Maybe it is because this is the weekend of the most hallowed of golf tournaments in Augusta or maybe it is because I met the author at dinner Thursday night at the Town Point Club in downtown Norfolk, but I actually read a book on golf today. It is titled King of Clubs: The Great … Continue reading A Beach Boy, Golf, and a Real Marathon
Congress is very good at one thing, i.e., borrowing from the future. Apparently, so does the weather! The Department of Labor released their monthly Jobs Report this morning, and it was disappointing. Most expectations were that the economy created about 200 thousand jobs in March, down from about 240 thousand in February. Instead, only 120 … Continue reading Borrowing Jobs
The conventional wisdom among economists is that capitalism is rational, because people act in their own best interest. However, among investors, there is an old adage that the stock market can be irrational and stay irrational longer than you can stay solvent. The market was irrational yesterday and today. In the short run, the stock … Continue reading Irrational Markets or Irrational Investors?
For those readers old enough to remember privacy, you might just need something to smile about, and I’d recommend you click on or copy/paste this link: http://online.wsj.com/article/SB10001424052702303816504577309562257097438.html?KEYWORDS=eric+hague It is a humorous column written by Eric Hague about Google’s relentless pursuit of every piece of personal information about you. By the way, I no … Continue reading Gallows Humor
The most enduring contribution of the almost memorable Occupy Wall Street movement to the American lexicon is . . . the notion of the 1% vs. the 99%. You know — that is the notion that 99% of Americans suffer because the 1% has all the wealth and repress the poor 99%. Now, suppose you have … Continue reading The 1% of the 1% of the . . .
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