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Readers Turn: Climate & Project 2025
David R. Kotok, September 8, 2024 (The following was first published on The Kotok Report website and via LISTSERV. For details, visit https://kotokreport.com/.) Readers replied to our two-part series about Project 2025 and its impact on climate mitigation and the environment. Here are the links to parts 1 and 2: “Climate Change, Markets, Economics –…
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Jacob Frenkel, Kathleen Hays, Fed’s Jackson Hole Meeting
David R. Kotok, September 4, 2024, Cumberland Advisors Co-Founder and Chief Investment Officer (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) There have been many, many, many reports and podcasts and descriptions and interpretations from the Fed’s Jackson Hole meeting. I want to mention just one interview.…
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Climate Change, Markets, Economics – Part 2
David R. Kotok, September 1, 2024 (The following was first published on The Kotok Report website and via LISTSERV. For details, visit https://kotokreport.com/.) We wish our readers a pleasant Labor Day weekend. Please take a few minutes for a serious commentary and then freely share it with friends, if you are so inclined. They are…
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A Report from Camp Kotok by Bill Kennedy
David R. Kotok, August 25, 2024 (The following was published on The Kotok Report website and via LISTSERV. For details, visit https://kotokreport.com/.) Bill Kennedy is a regular invitee in Maine and the Chair of the Global Interdependence Center (https://www.interdependence.org/). He published this excellent summary of our gathering in Maine. I thank him for permission to…
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THE BLS REVISION
David R. Kotok, August 22, 2024 (The following was first published on The Kotok Report website and via LISTSERV. For details, visit https://kotokreport.com/.) The recent BLS revision has caused a stir. Please take 2 minutes to read it. Here’s the source document: “2024 Preliminary Benchmark Revision” https://www.bls.gov/ces/notices/2024/2024-preliminary-benchmark-revision.htm Every economist with skills knows that the BLS…
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CCC? Not for Me!
David R. Kotok, July 28, 2024 (The following was first published on Cumberland Advisors and via LISTSERV. For details, visit https://www.cumber.com/.) This quote was a lead item in Michael Gayed’s Lead-Lag report on July 24th: The worst of the worst credit tier, CCC-rated and below, has seen its yield spread rise by 116 basis points…
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Climate Change, Markets, Economics – Part 1
David R. Kotok, August 18, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) A reader chastised me because I asked how Florida business schools are supposed to teach the economic and financial effects from climate change when they are not permitted to mention the words climate change in…
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Profits, GDP, Markets
David R. Kotok, August 11, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) Profits and GDP help explain the stock market rally of the post-Covid period. Corporate earnings come from these profits. The computation of profits in the National Income and Product Accounts (NIPA) are derived from…
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Healthcare and Project 2025
David R. Kotok, August 4, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) I’ve written previously about healthcare and how it is about 18% of the total US GDP. For specific portfolio questions, go to Matt McAleer or John Mousseau or email me. The rest of this…
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US Gov. Debt: $35 Trillion & Counting?
David R. Kotok, July 23, 2024 (The following was first published on Cumberland Advisors’ website and via LISTSERV. For details, visit https://www.cumber.com/.) The US debt aggregate is about to cross $35 trillion; the vocal anti-debt Republicans have become silent; the Republican platform and the Republican National Convention essentially ignored government debt. Does anyone remember the…