Tag Archives: Tax Cut

BFTP: How Sustainable Is Earnings Growth?

BFTP: Blast From The Past We posted the following last May when earnings and the market were all lathered up and on a sugar high induced by the corporate tax cut and weaker dollar in 2017.  Our lack of confidence … Continue reading

Posted in Dollar, Earnings, Uncategorized | Tagged , , , | 1 Comment

How Sustainable Is Earnings Growth?

Not very. We will leave the calculation for the entire stock market to the stock analysts. Here’s why: Just glancing over WalMart’s latest earnings release from the week, we see two one-off macro factors that helped WalMart’s earnings in Q1, … Continue reading

Posted in Dollar, Earnings, Uncategorized | Tagged , , | 62 Comments

Key Digit From Bank Earnings: Punk Loan Growth

Looks like our priors were correct.  The tax cut is morphing into nothing more than a financial engineering game.   The economics of corporations or the macro have not changed. Random thought:  We hear much about how the corporate tax cut … Continue reading

Posted in Economics, Uncategorized | Tagged , , , , | 11 Comments