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I Hope I Live So I Never Get Old

The Who Roger Daltrey and Pete Townshend B

A few weeks ago, I saw The Who in concert in Orange County. On a whim, I decided to see if tickets were available two days before the show, and sure enough, I could find some reasonably priced. It was the third time I had seen the band.

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Stuck in the Middle with You in London

London

I recently visited London for meetings with insurers. This is the second year in a row I went for these meetings, and the third overall. In spite of the time and cost, I came away convinced that it was well worth it,

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All Roads Lead to the Fed

All roads lead to the Fed

I was traveling internationally last week for some meetings in London as well as a side visit to Paris prior to Chunneling it to London. While I was hoping to discuss Paris this week, given limited time and the market’s reaction to last week’s CPI report,

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Biden vs MBS

President Biden Saudi Arabia Crown Prince Mohammed Bin Salman (MBS)

The Post Millennial Peter Doocy_ _The President says no one F's with a Biden, but it appears OPEC+ has

President Biden was caught on a hot mic when visiting Florida telling the mayor of Fort Myers that “No one Fs with a Biden.” As the tweet above shows, however, it appears that OPEC+ is doing just that. The question is, what will Biden do about it?

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Miss Truss(t)'s Hail Mary

Miss Liz Truss(t)'s Hail Mary B

FT Alphaville September 29, 2022 Twitter

The value of a country’s currency is a good barometer of its economic policies, human capital, competitiveness, freedoms, growth prospects, etc. From this chart, one can see that Great Britain has been on a long decline from a competitiveness standpoint versus the United States.

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Lag Effects and the Kamikazi Fed

Kamakazi Fed

One of the things that I periodically do with my trainer are exercises that focus on getting my heart rate to 80% of its maximum after starting at 75%. It’s done to stress the heart and to see how quickly it can recover. I have used an exercise bike and versa climber to facilitate this,

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To Russia with Sanctions

Russia Sanctions Russian Economic Sanctions

I have had somewhat of a morbid fascination trying to ascertain the impact of sanctions on the Russian economy and everyday life. Information hasn’t been that easy to come by. The most public evidence that Russia has been holding up comes from still robust revenues from energy exports and the surprising strength of the ruble.

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Laboring over Labor

Labor Manufacturing

We finally had a CPI report that the market responded favorably to. The prior six releases led to market losses. Last week’s report led to a nice gain.

Markets celebrated July inflation figures S&P 500 response to US CPI figures in 2022

As an aside, this chart shows how incredibly fast margin debt went up and now down during the bear market that just took place.

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Liquidate Labor

Jobs Labor 3.5% Unemployment

“Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted,

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China Syndrome

China Syndrome

The evidence seems to be increasingly persuasive that economic growth is slowing materially. This is from the Economic Cycle Research Institute, which has a good track record of identifying turns in the business cycle. Its Weekly Leading Index is clearly showing a negative growth rate.

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