The Retired Investor: The Day-Care CrisisBy Bill Schmick,
04:19PM / Thursday, September 28, 2023 | |
On Saturday, Sept. 30, 2023, $24 billion in emergency funding for the nation's child day-care industry expires. Estimates are that as many as 70,000 care centers or more will close over the next year, impacting as many as 3.2 million kids. The downside for working women with young children could be even more substantial.
In recent columns, I have written of the gains women have made in the post-pandemic labor force. Women's workforce participation, especially women with children under 5, is higher than it has ever been (at 70.4 percent, compared to a pre-pandemic high of 68.9 percent). That brings the employment gap between men and women to record 0 Comments
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@theMarket: Fed's 'Higher for Longer' Message DisappointsBy Bill Schmick,
04:50PM / Friday, September 22, 2023 | |
The financial markets were expecting a lot of good news out of the Federal Open Market Committee meeting this week. Investors were betting that not only would the Fed pause, but possibly announce an end of interest rate hikes altogether. Some even expected a timetable for future rate cuts that would be sooner than later.
The market was right on the pause in interest rate hikes. The U.S. central bank decided not to hike the Fed funds rate but that was about the extent of the good news. In his Q&A session after the meeting, Chair Jerome Powell reiterated his message that further rate hikes were still on the table, but they would proceed "carefully." They have 0 Comments
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The Retired Investor: Rescheduling Cannabis Could Boost ProfitsBy Bill Schmick,
04:02PM / Thursday, September 21, 2023 | |
Over the last month, pot stocks have spiked higher. Some have doubled in price. The news that the U.S. Drug Enforcement Agency may reclassify marijuana from Schedule I of the Controlled Substances Act to Schedule III has given new hope to this beleaguered industry and investors.
The effort to reclassify started 10 months ago when the Biden administration directed the Department of Health and Human Services to review the scheduling of cannabis under federal law. As a result of that review, HHS sent a letter to the DEA recommending a proposed schedule change.
Currently, marijuana is listed as a Schedule I drug with no accepted medical use and a high potential 0 Comments
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The Retired Investor: Government Shutdown ScorecardBy Bill Schmick,
02:54PM / Friday, September 15, 2023 | |
Oct. 1, 2023, is the deadline to avert yet another government shutdown. At this point, the chances are high that partisan politics will once again disappoint the country and most voters.
The truth is that the U.S. has a long history of dysfunctional shutdowns. There have been 20 such incidents since 1976. The longest single shut down in history occurred from Dec. 22, 2018, until Jan. 25, 2019.
The credit or blame for that debacle goes to former President Donald Trump. Trump held government workers and the nation hostage to fund his pet folly, a border wall between the U.S. and Mexico. How important was that issue? The subject has disappeared entirely from 0 Comments
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@theMarket: Rising Yields, Oil & Dollar Too Much for Stock MarketBy Bill Schmick,
04:35PM / Friday, September 08, 2023 | |
As we enter the second week of the month, September is living up to its reputation as a bad time for stocks. No matter the reasons, stocks should see further declines in the week ahead.
There are several villains in this sell-off besides seasonal factors, however. Bond yields continue to climb with the Ten-year, U.S. Treasury bonds hitting 4.30 percent at one point this week. Place the blame on Treasury Secretary Janet Yellen and the government. She continues to auction billions in Treasury bills and bonds to replenish the Treasury's general account. That avalanche of new issues is driving up yields and squashing bond prices.
Then there are oil prices. A 0 Comments
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