Booms, Bonanzas And The iShock
Early last month, I spent a few minutes editorializing around the historical relationship between capex
Questions Abound. Task Force Needed.
What’s going on with the US labor market? Nobody knows. Not really, anyway. Thursday’s underwhelming
Fed Doves Get Big Break As US Labor Market Downshifts
If Kevin Warsh wants to avoid “killing success,” as Donald Trump put it, by raising
Tesla Sold Some Cars
Does anybody care about Tesla deliveries anymore? I suspect this metric’s like Netflix paid subscriber
Metareflexive
I guess I’m a little confused. I hear every day that demand for compute’s insatiable
US Factory Recovery Rolls On. Stagflation Abates
53.3. That’s my IQ after spending 15 minutes on Wednesday scrolling through Donald Trump’s TruthSocial
US Private-Sector Hiring Cools At The Margins
Private-sector employers in the US added fewer jobs than economists collectively anticipated in June, Wednesday’s
AI Job Replacement Escalates Even As Overall Layoffs Slow
Announced job cuts slowed sharply in June from the prior month, consistent with the typical
John Roberts Saves The Babies
I hesitate to weigh in on Tuesday’s SCOTUS decision upholding birthright citizenship in America. And
Jobs, What Jobs?
“Whatever could be wrong?” the pollster inquired, of the downcast American head of household. A
America’s ‘Jobs-To-Jobless’ Ratio Hits 16-Month High
There were no fireworks from the BLS’s monthly update on job openings across the US
Push It To The Limit
Vibe check: 80s coke parties in Miami. Or tech stocks 1999. Those are basically the
Supreme Court Pretends To Protect Fed
Let’s get real: If the Supreme Court were serious about safeguarding Fed independence, they wouldn’t
How Important Is Micron?
How important is Micron? That depends on the context for the question, but currently, the
Honor’s In The Dollar, Kid
27% if you can believe it. I guess whether you believe it depends on what
Who’ll Buy All The Stock?
“Who’ll buy all the debt?!” So goes the overwrought interrogative whenever the discussion turns to
Independence Week
It’s a(nother) holiday week in the US, where markets will be closed Friday to honor
A Hawkish Epoch? Really?!
I’ve been on at considerable length since Kevin Warsh’s FOMC debut this month about the
Weekly: Hyper-Drag
Why are stocks struggling, where that just means struggling to make new(er) highs? Don’t answer
The Most-Asked Question, The Most Important Charts
The most-asked question in my inbox over the past two weeks is… well, to be
‘Daddy Needs A New Pair Of Shoes!’
Another day at the casino. Another circuit breaker in the wild, wild east. On Friday,
‘Obvious’ Things
The moment is upon us. The moment when tech capex overtakes buybacks and dividends. The
How Leveraged ETFs Turn Markets Into Casinos
If you’d suggested to me a few years ago that a meaningful share of the
The Apple Shock Arrives
“I was told there would be disinflation.” The AI jokes just write themselves on some
Americans Shrug Off Inflation, Keep Spending
Underlying consumer price growth on the Fed’s preferred measure rose 3.4% last month from the
Micron Delivers. And Then Some
The sputtering US equity rally cleared a major hurdle on Wednesday afternoon, when Micron came
Three Hikes? Yeah Right
First thing Wednesday morning, I read an amusing tidbit on Wall Street Fed forecasting. By
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