The Independent Investor: Holy CowBy Bill Schmick, 01:04PM / Friday, May 30, 2014 | |
While shopping for my Memorial Day cook-out last weekend, I experienced a lethal dose of sticker shock. Steaks, roasts, spare ribs, pork loin, even ground beef were commanding prices that were a good 5 to 9 percent higher than they were at the start of the year.
Unfortunately, it appears prices will go higher still in the months ahead. Here's why.
Remember the Drought of 2012? The results of that dry period are still having repercussions on food prices today. Back in July of that year this is what I wrote: "If one looks at just the price of corn in the United States, which has increased in price by 38 percent since June 1, it is not hard to predict increases in
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@theMarket: Flirting With Record Highs — AgainBy Bill Schmick, 07:31AM / Saturday, May 24, 2014 | |
You can't keep a good market down, so why is everyone so darn worried about the stock market? Could it be that too much of a good thing may be dangerous to your financial health? If so, someone should tell the bulls.
Truly, no one should be complaining. Here we are at the end of May, normally a month where the markets come under selling pressure, and we are a mere five points away from the S&P 500 Index's all-time high. The contrarian in me says that too many people are waiting for the shoe to drop right now, so it probably won't.
Officially, it is the Memorial Day weekend that kicks off the herd migration from Wall Street's gray canyons and valleys to more
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The Independent Investor: Can it be this simple?By Bill Schmick, 05:29PM / Friday, May 23, 2014 | |
Financial gurus have come up short in explaining exactly why interest rates are going down, and not up, as everyone expected them to do. The same thing is happening overseas. What gives?
Pundits have been trotting out the same old reasons for why rates are declining. Slow-growth economies in North America, Europe and Japan have persisted this year, much to the surprise of everyone. So central banks worldwide are maintaining an easy-money policy, which is driving all interest rates lower. That is at odds with the Fed's view of economic conditions.
If you recall, back in May of last year, the Fed announced that the U.S. economy was gathering so much steam that they had
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@themarket: Don't Buy the DipsBy Bill Schmick, 04:11AM / Saturday, May 17, 2014 | |
The S&P 500 Index hit 1,900 this week. The Dow Jones Industrial and Transportation averages also reached new historical highs but the euphoria lasted about a minute and a half.
That's about as long as it took for traders to sell into the move. Not good.
The market gave the bulls all the excuses in the world to man-up and push the markets higher, as they backed and filled for two days, then the bears took over. Thursday was a blood bath and sellers added to the damage again on Friday. Not good.
Last year, if you recall, all I recommended readers to do is "buy the dips" whenever the stock market declined. Obviously, from this headline, I am recommending
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The Independent Investor: Potholes Take Center StageBy Bill Schmick, 03:21PM / Friday, May 16, 2014 | |
Can you count the number of potholes you hit or narrowly avoid every day? Do they make your blood boil, teeth clench and trigger a choice euphemism or two during your commute? Unless the Highway Trust Fund (HTF) receives a $302 billion injection of funds this year, it could get a lot worse.
And I'm not just talking about potholes. More than one in nine bridges in this country is structurally deficient. At least 66,405 (11 percent of the total) are in sad shape and these are not out-of-the-way covered bridges that are rarely used. Americans have taken over 260 million trips over these derelict spans. They are simply accidents waiting to happen, like the one last month in Mount
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