Retail woes spread across all price points

Because of yesterday’s monumental news the Richmond Fed President Jeffrey Lacker immediately resigned for leaking Fed information before it was released, I did not write on two huge developments in US retailing that point to the troubling economy. Ralph Lauren — the iconic US retailer — is closing its flagship Manhattan store on 5th Avenue […]

Order now and we’ll throw in some IPO shares

“It dices, it slices.” It could be a sign of the top of the stock market. Ronco Brands, the infamous late night infomercial gadget maker once led by founder Ron Popeil who peddled the Veg-O-Matic and the Pocket Fisherman on TV, has filed to go public. The Austin, Texas is seeking to raise $30 million […]

Trump’s spring will provide no breaks after ObamaCare fiasco

After Friday’s fiasco on the ObamaCare vote I believe we will see the beginning of the Trump dump. This may take equity markets down as much as 20% from the post-election highs as a “Do-Nothing” Congress stymies the White House at any move. Congress will want tax cuts, but not this year. They want those […]

Markets running a fever (chart) over health care vote

The health care debate will rule the news cycle today as well as equity markets. The repeal of ObamaCare has become a proxy for the Trump Administration’s ability to get other meaningful measures accomplished this year including tax cuts across the board. Look for another sell off Like Thursday’s close in stocks should the Trump […]

Lampert’s retail experiment implodes. Sears down 93% under his leadership

Hedge fund titan and failed retail exec Eddie Lampert finally admitted Wednesday what I have been saying for some time, Sears & Kmart are in trouble and may not make it. Lampert, in an annual filing said,  that “substantial doubt exists” about [Sears] ability to continue as a “going concern.” Meaning a bankruptcy filing could […]

Investors on the hook — literally — for subprime car loans

Yesterday, I wrote about the looming debt crisis in student loans and how the default numbers were escalating. I said then that after 2008-2009 Great Recession how Wall Street moved out of the mortgage paper selling sector and moved into the less regulated student and car loans, since these debt instruments did not fall under […]

Trump can’t drain swamp because he is mired in it

Happy St. Patrick’s Day to all. While Patrick is said to have driven the snakes out of Ireland, which is metaphor for the Irish conversion to Catholicism, President Trump is not having as much luck draining the swamp to thoroughly mix that metaphor. Look at the Trump administration. The president has told Americans what he […]