On the Street

The Economic Effects of Legalized Marijuana

Since the legalization of recreational marijuana in parts of the United States, scholars, economists, politicians et al. have weighed in on the economic impact of the plant. One would assume that the economic rationale has been examined in light of legalization from both a financial and social standpoint, albeit a difficult social measurement. The vast amount of scholarly work has ...

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Wall Street has a Trust Issue with President Trump

In poker, when a player has a habit that indicates that they are bluffing or another one that indicates they have a strong hand, it is called a tell. In criminal law when a criminal uses a certain method to commit the same crime over and over, they call it an M.O.—or modus operandi. Right now, Wall Street seems to ...

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The #MeToo movement set women back 10 years

It’s hard enough for women to compete in male-dominated industries, such as technology and finance, and now it is about to get even worse. The #MeToo revolution was an online movement led by alleged sexually assaulted women who exposed men for everything from looking at them too sensually to touching them in all the wrong places. Men were getting fired, ...

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Trump, Auto Unions not Happy with GM Downsizing

There are two sides to every coin. In this case, you find General Motors and Wall Street in general on one side, and President Trump and the unions on the other. Strange partnerships perhaps, but each will do what is in their best interests. Let’s begin by looking at what happened. General Motors said Monday it will cut up to ...

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Don’t Blame General Motors, They’re Being Responsible

General Motors announced on Tuesday that it would close seven factories and cut its workforce by 14,000 people. The announcement was met with criticism from President Trump, Senators Sherrod Brown and Rob Portman, and many others. Of the plants that are due to close, four are in the United States and one is in Canada. While politicians can criticize the ...

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General Electric’s Woes Ripple through Corporate Bond Market

New CEO of GE Larry Cup

A feeling of angst is in the air in the credit markets on Wall Street. The venerable blue chip General Electric Co. will sell assets with “urgency” to reduce its high debt, Chief Executive Officer Larry Culp (just appointed 1 October) said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt ...

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The Next Bear Market May Be the Most Anticipated in History

I have been trumpeting a cautious tone for most of 2018 with concerns about the stock market and whether or not the bull market would continue. I have laid out a number of indicators that support my cautious stance—the jump in the yield on 10-year treasuries, consumer confidence being too high, investor sentiment being too optimistic, etc. If you haven’t ...

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HORIST: Do voters really want to kill off the booming economy?

One of the first bits of advice I give to political candidate clients is that an election will be decided on what voters decide to decide upon. For the upcoming midterm elections, the Democrats want voters to make their version of healthcare the major deciding issue. Republicans want voters to be thinking about immigration as they go to the polls. ...

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Think You’re Having a Bad Week? Jeff Bezos has lost over $20 Billion in the Last Five Days

When Amazon (Nasdaq: AMZN) reported earnings last Thursday evening, the company disappointed investors when its revenue fell short of analysts’ estimates and the company issued a fourth-quarter outlook that was below analysts’ expectations. Since the earnings report the stock is down almost 16% as I write this. The stock dropped 7.8% on Friday, it dropped another 6.3% on Monday, and ...

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