Investing With A Conditions Orientation (video)

The PWA Index today consists of 84 economic, economic and market sentiment, credit and equity market data points.

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:

Quick thought on today's tariff and Apple news...

Commentators sound surprised by the fact that Apple traded lower today despite the rumor that some or all of its products may not be included in the tariffs that are reportedly to be announced any minute. Well, they shouldn't be...

This Week's Message: Staying the Course, But With a Watchful Eye

Despite a moderate pickup in the Financial Markets subindex, our PWA [Macro] Index declined 2.38 points to 42.36 (this year's lowest score) this week -- as the Economic subindex gave up a notable 6 points, with commercial and industrial loans seeing a large decline and rail traffic threatening to roll over. 

Bonus Quote of the Day: Target's targeting a strong holiday season!

Target says it's hiring more seasonal help this year than any traditional retailer ever has. And, of course, more folks receiving a paycheck just improves the prospects for strong Q4 consumer spending:

Quote of the Day: Echoes from the Consumer

The following from Bloomberg's commentary on today's stellar consumer confidence report echoes our assessment of present conditions:

Chart of the Day: This Week's Rebound

No additional commentary needed:  click to enlarge...

Dealing With the Timing and Type of the Next Recession -- And -- Is There a Game Changer On the Horizon?

Hedge fund legend Ray Dalio has been making the rounds this week promoting his latest book Big Debt Crises (already can't put it down!).