Category Archives: Economy & Markets

30-Year Anniversary of “Black Monday” – Dow Down 23%

Today is the 30th anniversary of “Black Monday,” October 19, 1987, when the Dow Jones Industrial Average plunged 508.3 points, or almost 23%, in that one day. It was and is the worst single day in US stock market history. At today’s lofty levels, a decline of 23% in a single day would mean the…

Optimism Is Surging in America, Despite Dislike of Trump

We have numerous gauges of consumer and business confidence, and virtually all of them are surging higher this year – many are at all-time highs. This is despite the fact that President Trump is reviled by the left (and some on the right) and has approval ratings that are in the dumps. Today, I’ll start…

Why Inflation Is Missing In Action – Think Technology

Economists and financial analysts around the world are scratching their heads about why inflation remains so low, despite the recent upturn in the US economy and most other countries in the developed world. For over a century, we have been schooled to think that when the economy and consumer spending are rising, prices should move…

Trump Tax Cuts – Many Americans Don’t Want Them

President Trump unveiled his plans for tax cuts and tax reform yesterday at an event in Indianapolis, Indiana, and most pundits declared them dead on arrival. Meanwhile, several recent polls suggest that many Americans don’t want Congress to pass tax cuts at this time. For example, a recent poll cited in Investor’s Business Daily found…

Odds For Meaningful Tax Cuts Have Improved Significantly

In the last two months, the odds of Congress passing meaningful tax cuts this year basically plunged to near zero but have rebounded strongly in the last few weeks. As of today, the odds of significant tax cuts before yearend look pretty good, but it’s still complicated. Let’s revisit what’s happened over the last two…