Really gross domestic product

Happy Friday everyone! I hope that this post finds each of you well. Today’s message is about the Fourth Quarter U.S. Gross Domestic Product number. In case you had not heard, the economy contracted at an annualized 3.8% rate. However, and this is the BIG...

Underfunded SEC

The head of enforcement at the Securities and Exchange Commission (SEC), Linda Thomsen, testified before Congress today about her group’s handling of the Bernard Madoff Ponzi-scheme scandal. Particularly noteworthy is her having said, “While we appreciate...

Reader of Wall Street Journal asks…

For today’s post I wanted to copy for you a question asked by a Wall Street Journal reader in their “Journal Community” section. The questioner is named Hector Caaballo and he asks: “I don’t get it. Day to day life has seemed to change...

Still buying

Yes, the markets fell dramatically today. I think that this fear is quite crazy at this point. The new presidential Administration of Barack Obama has already made clear that they are not going to let the financial crisis become ridiculous. Effectively this is a...

Life has a way of humbling people

We are going to swerve away from investment-type topics a bit for today’s post. I wanted to excerpt a story from “The Week” magazine. Specifically page 10 of the January 23, 2009 issue. Here is the excerpt: Pastor Ted Haggard, who was exiled from his...

What is real economic growth?

Happy Saturday to all of you out there!   Today’s post is a missive as to what qualifies as real economic growth. This may sound like a very dry topic, but having a handle on this actually then gives you a powerful tool for evaluating the health of any...