BIBL News and Press, Inspire 100 From 12/21/20

In 2019, we wrote about how corporate share repurchases, or "stock buybacks," had accounted for nearly all buying in the market. A year later, that significant support for asset prices has reversed. Notably, while investors are willing to "pay more for less" in earnings, revenue g...

Last week, we discussed the market approaching the 3,750 year-end price target we had established back in August. With the markets currently "knocking on the door," we will likely reach that target by year-end. Such is particularly the case with the seasonal "Santa Claus" rally ju...

Federal Reserve Assets surged $120 billion last week to a record $7.363 trillion. Fed Assets inflated $3.593 trillion, or 95%, over the past 66 weeks. Overheated markets have become wholly enchanted by this frightening monetary inflation. Whether it's the U.S., China or elsewhere,...

One of the responsibilities of a prudent investment manager is to avoid as many meaningful surprises as possible. A meaningful surprise is one that prevents the accomplishment of a strategic goal. Also, some surprises won't be anticipated, but will be helped by a quick reaction coming...

Recently, President-Elect Joe Biden named Janet Yellen to be his administration's Treasury Secretary. Yellen quickly proclaimed the reason "I became an economist was because I was concerned about the toll of unemployment on people, families, and communities." Such provides excellent c...

The concept of a "demographic dividend" is well-established in academic research. But the flip side of a demographic dividend is what the United States and virtually all other developed nations are beginning to experience. Unfortunately, COVID-19 probably made the situation worse ...

The last ice age lasted a very long time and caused a significant regression in the biological advance of life on earth. I think we are on the verge of entering into a new kind of ice age — an economic one — around the world today. Massive debt loads weigh down the e...

Despite QE frequently being described as "money printing," including by me, it is effectively an asset swap that lowers the average duration and interest rate on the government's debt. QE does not generate increased bank lending or economic growth, and in fact it has a number of econo...

As we say good riddance to 2020, we enter 2021 with a confidence that new market and business cycles have arisen. We believe the economy, out of the depths of the COVID-induced recession, has entered what will be a protracted recovery, complete with the inevitable fits and starts, as ...

Over the past couple of weeks, we have talked about a short-term correction potential due to selling pressure from annual mutual fund distributions. We saw that taking place this past week with the market struggling to maintain its breakout levels. With the heavily skewed "put-cal...