Weekly Commentary February 23, 2009

The Markets Despite the broad market averages approaching their recent bear market lows, there’s some surprising strength below the surface. Last Tuesday, the S&P 500 index closed within about 5% of its November 20, 2008, bear market low, according to data from...

Weekly Commentary February 17, 2009

The Markets Thanks a trillion, Secretary Geithner. After weeks of heightened anticipation, Treasury Secretary Tim Geithner unveiled the administration’s comprehensive plan to restore confidence in the financial markets. Unfortunately, it landed with a big ol’ thud....

Weekly Commentary February 9, 2009

The Markets We’ve moved from “drill, baby, drill” to “spend, baby, spend.” As consumers have reduced their spending, the government is stepping in to fill the breach. The idea is that when the economy experiences one of its periodic contractions, it’s the government’s...

Weekly Commentary February 2, 2009

The Markets Our economy has moved from an inflationary environment to a deflationary environment in a remarkably short period. Is that good or bad? Let’s go back to July of last year. Remember that? Oil prices soared to more than $145 per barrel and unleaded gasoline...