Publications

August 01, 2017 | Econtrarian

Consumer Spending – I’ll Bet that Q3 Real GDP Growth Will Be Closer to Q1’s than Q2’s

Let’s take a look at the month-to-month annualized real PCE growth over the first six months of 2017 (see Chart 1). The median month-to-month annualized real PCE growth during this time period was a paltry 0.6%. The outlier during this period was March, when annualized real PCE growth was a whopping 9.2%. The annualized growth […]

July 20, 2017 | eFocus @ Legacy

Another Exciting Year of Growth

By Michael B. Mahlik, President, Legacy Private Trust Company The last time I penned an article for this publication, Legacy was celebrating its tenth anniversary of helping families with their wealth management needs. It was titled, “Like the finer things in life, we are even better with age.” Now in our 15th year of operation, […]

July 20, 2017 | Economic and Financial Digest

The Low Inflation Puzzle

As the second half of the year gets underway, the economy is entering the ninth year of recovery from the Great Recession. But don’t uncork the champagne, as this anniversary has as many critics as celebrants. True, the upturn has been durable, lasting longer than eight of the 11 postwar expansions. But it is also […]

July 17, 2017 | Econtrarian

Have Bundesbank Agents Infiltrated the Fed?

Germany’s central bank is the Bundesbank. Prior to the commencement of trading of the euro in January 1999, the Bundesbank conducted Germany’s monetary policy. The Bundesbank has a reputation for pursuing general price-level stability above all else. You might say that the Bundesbank has inflation phobia. The reason for this Bundesbank inflation phobia is the […]

June 16, 2017 | Economic and Financial Digest

Washington Dysfunction

As the summer season starts to heat up, so too is the economy. The first quarter’s slowdown is already history and the financial markets, along with policy makers, are gearing up for what looks like a solid rebound in the second quarter. The labor market continues to do its part, generating jobs at a faster […]