James Pethokoukis

The midterms and the markets, take two

September 21, 2010

A bit more from Ed Yardeni on one of my favorite topics:

Yesterday, I reviewed the outstanding performance of the market three months after midterm elections. I also noted that the third years of the presidential cycle tend to be very bullish. The fourth year of presidential terms, along with first and second years, tend to be much less consistently bullish than third years.

The oh-so-slow recovery

September 21, 2010

A great chart from David Rosenberg of Gluskin Sheff showing just weak this recovery has been:

Obama on CNBC

September 20, 2010

The president participated in a town hall meeting earlier today on CNBC. A few thoughts on the event:

Will Obamanomics slow the economy?

September 20, 2010

These two charts pretty well sum up one version of the economic impact of the White House tax plan — such as raising high-end tax rates — at least according to a computer model run by the conservative Heritage Foundation. You can disagree with the modelling, I suppose. But I am not sure any model would show higher taxes boosting the economy right now.

A chat with Peter Navarro, co-author of ‘Seeds of Destruction’

September 20, 2010

Looking for some bipartisan solutions to America’s economic problems?

Well, I just read a great book on U.S. economic policy that is definitely worth checking out: “Seeds of Destruction” written by Glenn Hubbard and Peter Navarro. Hubbard is the former head of the Council of Economic Advisers under George W. Bush and is now dean of Columbia Business School. Navarro, a Democrat, is a business professor at the University of California, Irvine and author of  ”The Coming China Wars.”

How will the midterms affect the stock market?

September 20, 2010

The always insightful and interesting Ed Yardeni gathers some numbers on elections and market returns:

Queen Elizabeth (Warren) finally arrives

September 17, 2010

Had enough of me writing about Elizabeth Warren yet? And I haven’t even gotten to her dodgy bankruptcy study! Anyway, here is my Reuters Breakingviews opinion-torial (half opinion, half editorial) on the pick:

Uncle Sam has plenty of dough

September 16, 2010

Here is a point that has gotten lost in the Bush tax cut debate. Even with the tax cuts, Uncle Sam will have plenty of revenue. As I wrote earlier this week:

A few thoughts on Elizabeth Warren

September 16, 2010

It looks like an end-run around the Senate, but liberals activists have still managed to get Elizabeth Warren into the Obama administration. A few thoughts:

Just how scary is Elizabeth Warren?

September 14, 2010

That is the sort of question I get all the time from my business and banking contacts. And the White House may try to end run the Senate by temporarily appointing Warren to head the new consumer finance regulator. But how bad would she be for business and Wall Street (assuming she would be negative)? Here is how her opponents put it: “Let’s put an ideologue at the head of a new regulatory agency with extremely broad and undefined powers in a nation where business is crippled by uncertainty? Hey, what could go wrong?”