After the credit rush…fiscal health of families is as dilapidated as their physical health. A secular recovery in both is needed and will continue to extract revenues from the massively overbuilt retail sector. Too bad Tom Keene keeps cutting off his guest in this clip…guess the message wasn’t very bullish.
Davidowitz & Associates Chairman Howard Davidowitz discusses the U.S. retail industry and economy. Here is a direct video link.
Here is a second segment of the same interview.
When the message is inconvenient and constraining of status quo corporate profits, suppress it and harass the messengers. True North strong and free?
A recently retired Fisheries and Oceans Canada biologist says the muzzling of federal government scientists is worse than anyone can imagine.
Steve Campana, known for his expertise on everything from Great white sharks to porbeagles and Arctic trout, says the atmosphere working for the federal government is toxic.Here is a direct video link.
Overpaid? do ya think? Outrageous pay and teams of lawyers influencing government policy and regulation in your favor and teams of accountants scheming ways to minimize your taxes, all while shielding you from personal responsibility for your actions. Then when you screw up, taxpayer funded bailouts let you continue. Good gig if you can get it. It’s good to be king.
Two votes on executive pay today: At JPMorgan’s annual meeting, shareholders will weigh in on the company’s pay packages, and there will be a similar vote at Morgan Stanley’s annual meeting. Critics say the heads of some of the world’s biggest banks are overpaid. Here is a direct video link.
Cory’s Chart Corner
Great chart from @crescatkevin on growing delta between CCCs and BBBs. Carry-on as if everything is normal!
The second indicator is widening CCC vs. BBB credit spreads.
Credit markets are generally quicker to pick up on deteriorating corporate cash flows than equity markets. While the S&P 500 Index has been hitting new all-time highs over the past six months, US triple-C credit
