I hope everyone is healthy and making the best of this summer in this tumultuous year.  Today we got U.S. 2nd quarter GDP data, which was down by roughly a third, which is something we haven’t seen since the 1940’s.  This is a lagging indicator and was expected as a result of the Covid-19 pandemic...
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With every data point it is becoming more obvious that the housing market is recovering and the implications are massive.  While everybody is focused on Europe for the third year in a row, new single-family homes sales moved up 3.3% from March to a seasonally adjusted annual rate of $343,000.  Housing as been in a...
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There is no doubt that North America needs to fully embrace using liquefied natural gas to fuel vehicles.  We have an immense amount of resources that can be procured at a much lower cost than we are able to obtain oil. Natural Gas is the fuel for this continent and policymakers and businesses will find...
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My concern for the Chinese real estate market is growing greater as builders continue to increase supply despite falling prices and demand.  This is the worst case scenario for prices and the positive impact for Chinese GDP growth due to continued construction is nothing more than a sugar high, which will dissipate as demand wanes....
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The idea that the Federal Reserve can accurately forecast the financial results and capital ratios for these massive banks assuming an 8% decline in GDP, a 50% decrease in stocks, a 20% decrease in housing prices, and an unemployment rate of 13% is truly laughable.  There are just far too many inputs and projections to...
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