Monthly Archives: February 2023

Weekly Summary Global markets correlated as theory would predict:  interest rates higher, the dollar stronger, and stocks and commodities lower. Ten-year yields were up across the globe as the U.S. Treasury note yield approaches 4 percent on sticky inflation data. … Continue reading →

Good piece in the Washington Post today on the “cost of thriving index  (COTI),” which provides some granular insight into how America’s middle class is faring.   …(COTI), which starts from a simple premise: Americans must prioritize five sets of goods … Continue reading →

In our opinion, the economy’s unexpected mojo and sticky inflation can be explained in two simple macro charts.  M2 as a percent of GDP remains freakishly high, though we don’t put much stock in the old monetary aggregates, and Household … Continue reading →

Wow!  The wing-nuts are coming for AI and ChatGPT…err…WokeGPT. Prepare for an invasion of the Luddites.  Senator Ted Cruz of Texas, for instance, has called attention to conservative complaints that the AI refused to write a song praising him, but it … Continue reading →