The word from Washington has changed from the coronavirus is ‘no big deal.’ We can get through this biological tap on the brakes of the economy with monetary ease (50 basis point cut in the Fed funds rate), a suggested cut in payroll taxes and, last Wednesday, a 30-day ban on flights from continental Europe….
Tag: tax cuts
Nothing inspires confidence like an emergency Fed funds rate cut
— During the entire panic on the downside you had to ask ‘are things really that bad out there?’ — One also has to ask how does a cut of 50 basis points on the Fed funds rate positively impact the trajectory the COVID19 epidemic. — Fortunately, the answer may be ‘no’ to bullet number…
What Worries Me — December 16, 2017
Really nothing has shaken my confidence in the secular bull market that started in 2013 with the S&P 500’s decisive breakout above 1550. This has been a prominent theme in Kort Sessions since Session One (February 1, 2013). My optimism then and since has derived from the belief that monetary policy, providing a near-zero interest rate environment, in support of…
Let’s Talk Heresy!
Kort Sessions (kortsessions.com) came about as a result of a 50-year irritation I have developed over the media and its ability through misinformation, group think and political editorializing to do harm to investors of all stripes. What I try to do with this blog is go after the biggest misconceptions that they obsess on and…
“Mnuchin: Pass tax reform or markets will tank”
Well, Secretary of the Treasury Mnuchin didn’t actually say it this way. The above title was the work of a headline writer at CNBC. And, as usual ,was designed to reel you into their web with the negative and the sensational. What he did say was, “There is no question that the rally in the…
Thinking about taking some chips off the table?
I recently had a conversation with a good friend who was contemplating liquidating his entire portfolio because of fear that the incoming Trump Administration would do something rash, or just plain stupid, that would torpedo the market. You might remember that was my initial gut reaction election night when I posted “Ladies and gentlemen we…