Author Interviews

Jack Ewing Play in new window | Download (Duration: 19:50 — 11.3MB)Subscribe: Apple Podcasts | Android | RSSSinclair Noe interviews Jack Ewing, author of “Faster, Higher, Farther: The Volkswagen Scandal”


Monday, May 20, 2013 – Daily Scandals and Distractions

Daily Scandals and Distractions by Sinclair Noe DOW – 19 = 15,335SPX – 1 = 1666NAS – 2 = 349610 YR YLD + .02 = 1.96%OIL + .58 = 96.87GOLD + 33.90 = 1395.10SILV + .66 = 23.02 I suppose we should start with the scandal du jour, since this is where most of the news has been fixated recently. I’ll try to focus on how it affects the economy and the markets, but it’s hard to ignore the bluster. One quote I heard over the weekend was “add Watergate and Iran Contra together and multiply by ten” to calculate the tyrannical evil of the Obama scandals. Actually, the current scandals are not even close (I’m old enough to remember the enemies list and plumbers). I don’t think the scandals are inconsequential but I think some historical perspective might help. The rhetoric without perspective might actually backfire. But what we concern ourselves with here is the economic and financial impact. And it’s likely there will be limited economic impact. We’ve seen worse, and the markets survived and sometimes even prospered. Remember Iran Contra? It happened to coincide with one of the greatest bull runs the market has ever seen. And remember the Lewinsky scandal? It coincided with a market that was described as irrationally exuberant; this is often attributed to gridlock in Washington, or some sort of moderation. Actually, the old idea of gridlock being good for markets, doesn’t really hold water. When one party controls both the White House …