Executive Summary “Excess savings” is defined as savings above the pre-pandemic trend level. The Federal Government and Federal Reserve through stimulus programs and money printing sent checks directly to citizens during the pandemic. As one can see in the first graph, “excess savings” skyrocketed – as did [...]

Executive Summary Over 50% of the stock options sold each day for the S&P 500 expire the same day. Translation, speculators are gambling on the daily movement of the market. In the graph below by economist Dr. John Hussman, one can see the market is as overvalued [...]

Executive Summary High interest rates and inflation have given the consumer pause. The University of Michigan Consumer Sentiment Index plunged 13% last month. The current reading suggests a recession is likely. Consumers, hit with high prices, have cut back on savings and ramped up their use of [...]

Executive Summary After the stock market was down in April, it rose over the last two weeks. The question now is whether the bulls or bears take control of the market in the short term. Last week Fed Chairman Jerome Powell fueled the stock market stating the [...]