November 2008

Two pieces of news on GE this morning that run counter to what we should aim for in the United States. First, its reported that the U.S. Treasury is considering using more of its $700 billion dollar rescue fund to buy stakes in more companies, including aid for General Electric's GE Capital unit.   GE has come out today and said it is "not expecting" to take any funds, but if they are ... read more

The economy matters to Presidential elections.   Just how much it matters is dramatic. The following three electoral vote maps show that during major economic crises, the incumbent and his party not only generally lose, but lose big. In 1840 challenger William Henry Harrison beat Martin Van Buren on the back of the banking and real estate crash of the preceding year: In 1932, Franklin ... read more

Nearly two years of campaigning will mercifully come to a close tomorrow.     While the political noise is hitting a high pitch in the final push, the markets are fairly quiet.  This morning the futures are little changed, the bond market hasn't changed much and Japan was closed overnight. While the world watches our polls, the market has already turned its collective eye toward the ... read more

I've been in Chicago the last few days.   This is definitely one of the most impressive and enjoyable cities in the world.    The architecture alone is worth a visit and the people are terrific. The city has experienced a boom in real estate the last few years.    There are many impressive new buildings dotting the skyline.   But if one type of building permit is a good indicator, ... read more