America's Economic Future – A Discussion By Ted Kavadas
For reference purposes, below are two sets of charts depicting growth in the money supply. The first shows the MZM (Money Zero Maturity), defined in FRED as the following: M2 less small-denomination time deposits plus institutional money funds.Money Zero Maturity is calculated by the Federal Reserve Bank of St. Louis. Here is the “MZM Money …
Perhaps the main reason that I write of our economic situation is that I continue to believe, based upon various analyses, that our economic situation is in many ways misunderstood. While no one likes to contemplate a future rife with economic adversity, current and future economic problems must be properly recognized and rectified if high-quality, …
Read moreThe U.S. Economic Situation – January 22, 2021 Update
The St. Louis Fed’s Financial Stress Index (STLFSI2) is one index that is supposed to measure stress in the financial system. Its reading as of the January 21, 2021 update (reflecting data through January 21, 2021) is -.7384: source: Federal Reserve Bank of St. Louis, St. Louis Fed Financial Stress Index [STLFSI2], retrieved from FRED, Federal Reserve …
Read moreChicago Fed National Financial Conditions Index (NFCI)
S&P500 earnings trends and estimates are a notably important topic, for a variety of reasons, at this point in time. FactSet publishes a report titled “Earnings Insight” that contains a variety of information including the trends and expectations of S&P500 earnings. For reference purposes, here are two charts as seen in the “Earnings Insight” report of January …
As many are aware, Refinitiv publishes earnings estimates for the S&P500. (My other posts concerning S&P earnings estimates can be found under the S&P500 Earnings tag) The following estimates are from Exhibit 24 of the “S&P500 Earnings Scorecard” (pdf) of January 15, 2021, and represent an aggregation of individual S&P500 component “bottom up” analyst forecasts. For reference, the …
Read moreS&P500 EPS Estimates Calendar Years 2020, 2021 & 2022
As many are aware, Standard & Poor’s publishes earnings estimates for the S&P500. (My posts concerning their estimates can be found under the S&P500 Earnings tag) For reference purposes, the most current estimates are reflected below, and are as of January 15, 2021: Year 2020 estimates add to the following: -From a “bottom up” perspective, operating earnings of $120.79/share …
Read moreStandard & Poor’s S&P500 EPS Estimates 2020 & 2021 – January 15, 2021
This post is a brief update to various past commentaries concerning the stock market bubble, most notably the February 2020 page titled “The Immense Stock Market Bubble And Characteristics.” Since February 2020, the stock market bubble has grown in size, which is highly notable given the enormous size of the bubble at that time. My …
As I stated in my July 12, 2010 post (“ECRI WLI Growth History“): For a variety of reasons, I am not as enamored with ECRI’s WLI and WLI Growth measures as many are. However, I do think the measures are important and deserve close monitoring and scrutiny. Below are three long-term charts, from Advisor Perspectives’ …
Read moreLong-Term Charts Of The ECRI WLI & ECRI WLI, Gr. – January 15, 2021 Update
The January 2021 Wall Street Journal Economic Forecast Survey was published on January 14, 2021. The headline is “WSJ Survey: U.S. Economic Growth Will Exceed 4% in 2021.” I found numerous items to be notable – although I don’t necessarily agree with them – both within the article and in the “Economist Q&A” section. An …
Read moreThe January 2021 Wall Street Journal Economic Forecast Survey
The following is the latest update of 10 charts that depict various aspects of the U.S. economic and financial situation. I find these charts portray disturbing long-term trends. These trends have been in effect for years, even during the longest U.S. economic expansion that recently ended. [The June 8 NBER BCDC declaration of U.S. recession …