Risk versus No Risk, it's a question that portfolio managers need to ask every day. Because this equation between the two kinds of returns changes all the time. It is, in other words extremely dynamic.

Let's explore this concept.

Energy is the big news so far today. With markets from Beijing to London reporting higher and higher energy prices.

In China it is reported that massive flooding has inundated early 9% of the coal mines in Shan Xi Province. Located in Northern china Shan Xi is normally a dry part of the country, but this year, I suppose the rains have come to all. Coal futures in China jumped 12% overnight last night.

Risk versus No Risk, it's a question that portfolio managers need to ask every day. Because this equation between the two kinds of returns changes all the time. It is, in other words extremely dynamic.

Let's explore this concept.

Finally we get a detailed look at the Consumer this week. With two reports on Friday,

First comes the latest in Retail Sales, which peaked in March, and have declining ever since.

And the Michigan Survey of Consumer Sentiment, which peaked in April, and has been declining ever since.

Next we'll get two measures of Inflation, On Wednesday Inflation at the retail level, where were seeing a rate of inflation that is 3 ½ times higher than we began the year.

Interestingly Inflation at the retail level has declined over the past 3 months. Last month being 1 tick lower than, it's too early to tell if this is a trend. But if lower again for September, this might be the start of something.

There are 6 economic reports that I'm focused on this week.

First 2 reports on employment: the Jolts Job Openings reporting on Tuesday, and the Initial Claims reported on Thursday. As you know I believe to see a real recovery in this economy, we should see Initial Claims declining to the ¼ million we saw each week, back before the Pandemic in 2019.

So we've just started the fourth quarter. For most companies it's the most important quarter of the year. Most, will be preparing their annual report, and preparing for the report to shareholders, to be held in 3 to 4 months. And perhaps more importantly, they will be projecting their financial projections to end the year.

What an interesting week. The week began with a crisis on whether the Senate could come to an agreement on how to extend the national debt ceiling. The extension was needed so that the Government could pay it's bills.

The good news here, the nation will be able to pay it's bills, for a couple of months, and we're only $480 billion more in debt. Good news, I think!?!

What an interesting week. The week began with a crisis on whether the Senate could come to an agreement on how to extend the national debt ceiling. The extension was needed so that the Government could pay it's bills.

The good news here, the nation will be able to pay it's bills, for a couple of months, and we're only $480 billion more in debt. Good news, I think!?!

What an interesting week. The week began with a crisis on whether the Senate could come to an agreement on how to extend the national debt ceiling. The extension was needed so that the Government could pay it's bills.

The good news here, the nation will be able to pay it's bills, for a couple of months, and we're only $480 billion more in debt. Good news, I think!?!