Congress took a big step last week toward enacting some sort of tax cuts and tax reform. That big step was the US Senate passing a budget resolution creating the room for ten years of tax cuts totaling $1.5 trillion with a simple majority vote. This procedure means there is no need to break a […]
The media talk shows on financial news are many times paid advertisements promoting certain products. Talk to your financial advisor to get an unbiased opinion and direction.
Next week, government statisticians will release the first estimate for third quarter real GDP growth. In spite of hurricanes, and continued negativity by conventional wisdom, we expect 2.8% growth. If we’re right about the third quarter, real GDP will be up 2.2% from a year ago, which is exactly equal to the growth rate since […]
30 years ago this week, the US stock market suffered its greatest one day loss in history when it dropped some 22%. This marked the second day of a 27% two day decline and the end of a total fall of more than 40% from a late summer peak. That day, forever known as Black […]
Years ago we helped a firefighter with his retirement plan, and he told his friends and co-workers. We now work with 4 or 5 dozen of his current or former co-workers. That tells us they are happy with our services and they trust us. If you would like to have more confidence in your financial future, […]
If the current economic expansion lasts another year and a half, it’ll be the longest on record, even surpassing the expansion of the 1990s that ended in early 2001. Notice how we didn’t say it’ll be the “best” expansion of all-time, just the longest; it’s not the best by a long shot. From the recession […]
Ten year ago this October 9, the stock market hit an all-time high level. Over the next 17 months, a disastrous mix of market greed, unintended consequences from poorly conceived financial regulations, and even worse reactions to those unintended consequences caused the stock market to decline by more than half. Thus, October 9, 2007 marked […]
Next Monday (October 9th) will be exactly ten years from the stock market peak before the Financial Panic of 2008. Imagine that Doctor Doom, the perceived “best analyst in the business,” told you on that night, when markets peaked, that financial authorities would allow mark-to-market accounting rules to burn the banking system to the ground, […]