Financial Markets
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Ford’s Massive Retreat From EVs, Explained
“The costs of listening to industry experts and politicians in Washington instead of consumers — and profits — have been severe.” ~Jon Miltimore
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Fed Rate Cuts Are Unlikely to Goose the Stock Market or Prevent a Recession
“Rate cuts based on hindsight instead of foresight can confirm a recession but can’t prevent it.” ~Richard Salsman
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A Recession the Yield Curve Predicted (Again)
“We get the signal that another recession will arrive within 12-18 months, then we get the signal that says recession is imminent. The door knocks are getting harder and louder. Something’s out there.” ~Richard M. Salsman
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Nike Takes Its Eye Off the Ball
“Nike wanted to make an impact in the community, venturing beyond selling shoes and sports apparel. The results include a current 2-percent reduction in labor force.” ~Stefan Bartl
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Investors are Not to Blame for the Priciest Housing in History
“As of Q1 2024, investor purchases are below levels experienced seven years ago. As it turns out, rising interest rates impact the ability of investors to deploy capital profitably, just as this environment makes it difficult for families to acquire a home.” ~Joel Griffith
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Consumers (Sovereignly) Control Google
“Every commercial choice — buying, selling, abstaining, using — is not just a transaction but a significant vote for who should produce what, when, where, and how.” ~Art Carden
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June U-3 Jobless Rate Triggers Sahm Rule: Recession Ahead?
“This uptick triggers the Sahm Rule, a real-time recession indicator, suggesting that the US economy is in, or is nearing, a recession.” ~Peter C. Earle
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ESG: A Gordian Knot of the Highest Order
“Thanks to a complex web of CSR initiatives, aid and development programs, progressive intergovernmental agencies, and the do-good posturing of political elites, businesses will further be ensnarled to ESG.” ~Kimberlee Josephson
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Policy Uncertainty Drives Economic Volatility
“Regulations often have significant compliance costs and operational challenges. The regulatory burden can stifle innovation and deter investment, particularly in industries struggling with economic headwinds.” ~Vance Ginn
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Business Conditions Monthly April 2024
“The road ahead remains uncertain, though, with potential outcomes ranging from a slow, steady economic rebalancing to sluggishness or even a recession.” ~Peter C. Earle
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Governments, Not Markets, Impel ESG
“Prominent financial institutions have backpedaled on ESG, with net outflows from ESG funds. This divestment suggests that financial institutions may have overestimated market demand for ESG.” ~Daniel Sutter and Allen Mendenhall
