Blog
Blog
Is the U.S. Headed Towards a Minsky Moment?
Executive Summary A Minsky Moment, via the Corporate Finance Institute, “…is named after an American economist, Hyman Minsky, who claimed that markets [...]
Which Payroll Report is More Accurate?
Executive Summary This missive compares data from the Bureau of Labor Statistics monthly jobs report and the ADP payroll numbers. Last week [...]
Is Consumer Debt Worsening?
Executive Summary According to the New York Fed’s Quarterly Report on Household Debt and Credit for the first quarter 2025 (released May [...]
Should the History of Multiple Expansion & Contraction Be Ignored?
Executive Summary The first chart below from Vetta-Fi illustrates the average of four separate valuation methodologies. Currently, this average is about 152% [...]
Was the May Jobs Report Strong?
Executive Summary As is typical with financial media, the 139,000 new jobs number released Friday was a celebrated “beat.” However, looking under [...]
Is the Stock Market Still Overvalued?
Executive Summary In this missive I share five charts of various valuation methodologies for the current stock market. The first is an [...]
How Serious is the Student Loan Crisis?
Executive Summary There are currently almost 43 million holders of student loans totaling $1.6 trillion (see first graph). Since the Covid relief [...]
Will the Ratings Agencies Catch up to Reality?
Executive Summary Last Friday Moody’s joined its peers in downgrading U.S. credit one level, from Aaa to Aa1. This came after Fitch [...]
Does Something Not Smell Right with the Jobs Report?
Executive Summary On Friday the BLS stated 177,000 new jobs were created in April, beating expectations. Digging into the data, the first [...]