The capital market for new issues and refinancing of corporate debt has been on a tear the past few months – I think that ended yesterday. That’s because the dreaded Taper Talk has resurfaced. The Fed minutes yesterday rekindled Fear of Taper.
I was blown out by the Labor Force Participation Rate (LFPR) data released Friday. Down 4 tics to 62.8%. That sounds like no big deal, but it is. Either there is something out of whack with the data, and it will be revised, or there will have to be some serious rethinking by the […]
America’s tax system and the major social programs (Medicaid and Obamacare) are driven by income. The Social Security Administration has put out a report on income in America. The data covers all wage earners (153.6 million workers and the $6.5 Trillion they earned). The Following is a pic of the report(link), if you’re working, you’re somewhere on this page:
I tried a bunch of times to get on NYS’s health exchange last week. Dead end. The site went down for ‘repairs’ over the weekend, but as of 8 AM today it was up and running. Some thoughts. The first step is to get a user ID. For those familiar with this type of […]
As a long time watcher of Social Security I was shocked (yes, shocked) at the recent Congressional Budget Office (CBO) report on America’s largest entitlement program. CBO concluded that the long term outlook for SS deteriorated substantially over the last twelve month.
Obamacare officially kicks off in nine days. What the heck is going to happen? I don’t believe that anyone really knows. I’m concerned that there will be many ‘unintended’ consequences. Information has being coming out in recent days about how much Obamacare is going to cost individuals.
I’m amazed at the Verizon mega bond deal. $50 billion gets raised on incredibly easy terms. Folks, this is acquisition debt; it’s junk dressed up. And today we learn that a huge chunk of the paper is ending up in retail accounts (Link). The “success” of the Verizon bond offering can be laid squarely on the…
Tom Perez got the job as Secretary of Labor just two days ago. All smiles with the Veep for the affair: After the payroll numbers this morning Perez goes on CNBC and talks about how great things are, and what a good job Obama is doing. But 6:15 into the clip the point is made…
The following is a pic of a Malayan Tapir. Note the distinctive black and white markings of this animal. Now consider this picture of Bernanke’s taper. It too has distinctive black and white markings. The Malayan tapir comes by its coloring scheme naturally. The Bernanke taper has black and white shades…
I typed in “Exotic Destinations, Cheap Accommodations” and Yemen comes back as an alternative. To be sure, this is no easy VaCa destination, so old fogies should consider a different holiday destination. That said, Yemen has a lot going for it.