What is Your Personal Downside Risk?
The economic calendar is light with a focus on home sales. Unemployment claims data remains an especially important indicator. Second quarter earnings reports will be more important than the economic data, but I do not expect much fresh information on COVID-19 and earnings outlook.
Demographic Trends for the 50-and-Older Work Force
Note: This commentary has been updated with the latest numbers from Thursday's Employment Report. Consider: Today nearly one in three of the 65-69 cohort and one in five of the 70-74 cohort are in the labor force.
The Theory Of MMT Falls Flat When Faced With Reality (Part II)
If you missed Part-1 of our series on the “Theory Of MMT Falls Flat When Faced With Reality,” start there. In Part-2, we complete our analysis of the theory and the potential ramifications. The premise of our discussion was this recent explanation of “Modern Monetary Theory” by Stephanie Kelton. As discussed previously, economic theory always sounds much better than how it works out in reality.