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Looks like a soft landing. That’s why stocks are rising. Here are few picks.

No predictions, Harry.

I’ve said that I can’t predict, but …

“The main reason for our cut is that the recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession,” Jan Hatzius, the investment bank’s chief economist, said in a research note.


Here’s what Krugman wrote:

The latest numbers on consumer prices arrived on Wednesday, and they were better than even optimists had expected. Even media reports, as far I can tell, generally omitted the “but concerns remain” qualifiers that have seemed mandatory when covering good news about the Biden economy.

Which is not to say that everyone was happy. Republicans are more or less in denial, no doubt worried that they may be losing pretty much their only substantive campaign issue — leaving them with nothing to run on besides wokeness and Hunter Biden. And there have been some fairly peevish reactions from economists who had committed themselves to the grim view that we would face a nasty “sacrifice ratio” — that controlling inflation would require years of high unemployment.

For this report was anything but grim. It strongly suggested that we may be heading for a soft landing — a return to acceptable inflation without a large rise in unemployment. We’re not there yet, and I’ll talk shortly about what may still go wrong. But a happy outcome that not long ago seemed like wishful thinking now looks more likely than not.

You can find the full piece here.

There’s a lot of talk of soft landing. I’m guessing it’s behind the recent runup in stocks. (Thank you, God.)

New stocks I like

CAT, CVNA, HUBS, MDB, MRNA, MYRG, TOST. The rest of my portfolio is on the web site in the right hand column. Click here.

For readers doing Dollar Cost Averaging every month, don’t forget VGT:

News of note

+ Russia has seized the local operations of global consumer-goods giants Carlsberg and Danone, without warning. Putin signed a decree last Sunday putting the two companies’ operations in Russia under the “temporary” control of Rosimushchestvo, the federal state property management agency. It was the second time since April that the Kremlin has taken over companies from countries Moscow has deemed “unfriendly.” Putin also set up new obstacles to companies trying to leave Russia, as many have done since Russia invaded Ukraine.

+ Ford Motor on Monday slashed the price of its F-150 Lightning electric pickup truck by as much as $10,000, or up to 17% on some versions of the vehicle. So much for Ford’s stock. Yuch.

Useful tips

+ How to get rid of spam calls? Easy: You can shut off all calls — allowing only those on your Contact list to come through and forcing everyone else to leave a voice mail. I did that. It worked. But then I started dealing with contractors who weren’t in my Contacts list and I needed to speak to instantly. I will go back to only my Contact list when everything is fixed — if that ever happens.

+ I’m still unsubscribing. Sometimes it works. Sometimes it doesn’t.

+ Reader Patrick fell for the “green” energy that CleanChoice Energy was peddling. So he switched from his normal provider selling him electricity at 14 cents a KWH. Now he’s paying 35 cents a KWH. That’s two and a half  times more. But the energy is “green!” Whoopee do!

The moral is simple: You often pay more for sustainable, green, renewable, regenerative, ethical, socially responsible, carbon footprint and all the other nonsense words which the do-gooder marketers are using to promote their inferior, more expensive products.

+ Bloomberg Radio on Sirius 119 is actually pretty good. Don’t pay more than $7 a month for Sirius.

Worth watching

Favorite photo

See you tomorrow. — Harry Newton