Month: June 2023

It seems as if some sector of the economy is in a perpetual bubble, or perhaps the markets are always in a mania. After all, for most of this century, there has been some asset that investors are buying simply because there is a fear of missing out with no consideration for value. For example,…

One of the few bright spots in the economy over the past several months is that consumer discretionary spending continued to remain robust, despite the fact that high inflation has largely meant that people cannot really afford their spending. This is evidenced by the fact that credit card balances are at nearly $1 trillion and…