ICYMI.ddb, In Case You Missed It — August 4, 2017

In Case You Missed It — August 4, 2017

Dear friends,

Happy Nonfarm Payrolls Friday from Grand Lake Stream, Maine! Grand Lake Where, you may be asking? THIS is where you fish, for small mouth bass, that is, in paradise. It’s a bit tricky to get here from Dallas, but it’s worth the trek to spend time with David Kotok, who organizes the annual campout. I also get to visit with some of the brightest minds in economics and finance I’m delighted to now call friends seven years into this annual tradition.

About those jobs…there are still plenty of them in the making. And they continue to be ho-hum in the income generation department, you know the drill – in the eating, drinking and getting sick sectors. Janet Yellen will be encouraged by the folks who’ve come off the sidelines to get the paltry paying positions. And away we go, to debate even more vigorously how the Fed’s balance sheet unwind will affect the bond market, or not.

Believe it or not, it’s not easy to get to the easternmost county in the United States. So, I made a stop in New York on the way and co-hosted a special Friends of Fermentation with my great friend, UBS’ Arthur Cashin. Friends, new and old, joined us to discuss the prospects for the market to continue moving up in 1,000-point increments and whether the Fed really will have the gumption to pull the trigger on shrinking its balance sheet (we really need to get out more and find some new materials over which to marinate ice cubes).

The consensus, if you must know, is that yes, the melt-up will continue, and that yes, the Fed seems hellbent on shrinking its mammoth balance sheet. Mind you, we also agree that the balance sheet will be blown up again in about a year’s time or so. That’s when most of us figure the economy will be in recession.

In the meantime, I’ve enjoyed writing my weekly column for Bloomberg, linked below. The editors are top notch and the readers, well – they’re well read.

Bloomberg: Back to School Means More Retail Agony

 

I also made a brief stop at the New York Stock Exchange to chat with CNBC’S Kelly Evans and Bill Griffeth, two journalists who can always be depended on to do their homework.

CNBC — Closing Bell Exchange: Underlying feeling the market is getting top heavy

 

Earlier in the week, I did a longer form interview on the job market, also linked below.

RT — Boom Bust — Re-Examining the Jobs Market

 

Signing off for now as my guide is itching to get going. The lake and fish (aka lunch) are a calling!

 

How could I not wish you well?

 

Danielle

 

 

 

ICYMI.ddb, In Case You Missed It — August 4, 2017

In Case You Missed It — July 15, 2017

Dear friends,
 
Janet Yellen headed for the Hill this past week for what could be her last appearance before Congress. Of course, that prompted me to grace sweltering Manhattan with my presence to chime in and opine on her viewpoint of the world. As you will see in more than a few of the links below, Yellen’s confusion left me scratching my head.
 
The job market continues to strengthen and wage growth still can’t get off the floor. The economy has withstood as much as it can in the form of interest rate hikes and it’s time to get busy shrinking the balance sheet ‘appreciably,’ to borrow her term? ‘Egregious and unacceptable’ practices have occurred on her watch and yet no action has been taken.
 
The sensation was akin to being swallowed whole by inconsistency itself. If you have a moment, enjoy my jaunt across media outlets. Some are longer than others. But those asking the questions had done their homework and that’s always a plus for the gal on the receiving end.
  
The TV Parade 

CNBC World Exchange — Janet Yellen returns to the Hill
  

Now that we’ve got your Saturday covered, add to your lazy afternoon at the beach Sunday reading the interview Economics Wire posted Friday. It’s a keeper.

In-Depth Interview
 
Economy Wire :  Is the Federal Reserve Bad for America? A Conversation with Danielle DiMartino Booth
 
 
Hoping your feet are in the sand and wishing you well,

Danielle

In Case You Missed It — July 10, 2017

Dear friends,

It is my hope that you received an email that looked like what I’ve pasted below. While it doesn’t resemble the communique you normally receive from me, I assure you I am the sender. Please login as directed and you will transition yourself onto new platform.

 

On 07/6/2017, you successfully activated your trial subscription to Money Strong written by Danielle Dimartino Booth. During your trial subscription, you will receive an email containing a link to the most recent issue of Money Strong published every Wednesday. You may also view recently archived issues of Money Strong at the subscriber website (Subscribers Home).

To access Money Strong, you may login via the link in our notification email or via the login button on our website. On the login screen, please enter the below username and password below for access. To avoid errors in the login process we recommend typing in your email address and then copying and pasting the password from this email:

E-mail Address (Username): _______________________

Password:___________________

 

In the meantime, we’ve got one more payroll report under our belt. The headlines made a splash with job growth appreciably stronger than expected as a surge of sidelined laborers rejoined the workforce. Wages remain soft, which is intuitive given the type of jobs created – home health care workers led the month’s gains, a demographic sign of the times we are in.

For more on the outlook for baby boomers’ retirements, please have a look at my latest Bloomberg column, which focuses on the implications of boomers’ increasing exposure to passive and so-called ‘alternative investments.’ Below the Blomberg piece are three of my earlier missives on the implications of the tremendous build in private equity dry powder and pensions’ prospects. Hard to believe I started writing on this subject two years ago.

 

Private Equity and Passive Investors Are on a Collision Course

Bloomberg View — Danielle DiMartino Booth, July 6, 2017

Money Strong Archive Pull

The Smell of Dry Powder in the Morning 

What if Charlie Munger is Right?

The Smell of Dryer Powder in the Morning

In other In Case You Missed It

The Lance Roberts Show — July, 6, 2017

FED Players Receive Special Treatment

FX Street — EUR/USD and Fed: Levels, Ranges, Targets

As many of you hit the road back home, wishing you well,

 

Danielle

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