ICM Commentary offers insight into global and local economic issues

and prepares you for the potential impact they may have on your community and your portfolio.


What Comes Next? Part Two

Monetary policy as we know it will end with the next recession. Examine debt cycles & monetary policy limits when capitalism deleverages.

What Comes Next? Part One

When recession hits and the Fed has run out of bullets, what's next? This three-part commentary sounds the alarm and describes the options.

Stairs Up Elevator Down

The May Employment Report has provided further evidence that the economy has downshifted in the second quarter of 2019.

The Mechanics of Callable Securities

Recent market gyrations and Federal Reserve comments have presented a real-world opportunity to review the mechanics of callable securities.

What Would Albert Say?

“If you can’t explain it simply, you don’t understand it well enough.” Albert Einstein As a casual student of Albert Einstein, I enjoy...

The Road Not Taken

If you stay with me on a wonkish trip we will walk a path that is not well worn. We’ll be in search of questions few have asked to find...

Risking Recession to Fend Off Inflation

The Federal Reserve has tightened credit with a series of six quarter point hikes that began in December 2015. Financial gurus expect...

The Escape from Planet ZIRP

Note: ZIRP is an acronym for zero interest rate policy. ZIRP became popular with the financial media after Fed Chair Bernanke cut policy...

Every Yield Curve Tells a Story

With apologies to geezer rock fans and 70’s super star Rod Stewart, I’ve altered the title of Rod’s 1971 smash hit, Every Picture Tells a...

Let's Go Shopping!

It’s hard to believe but we just blew by Halloween on the fast track to Christmas. As I write there are 54 shopping days left. I’m...

Education and Discovery

“Discovery consists of seeing what everybody else has seen and thinking what nobody has thought.” Albert Szent-Gyorgi, 1937 Nobel Prize...


What a Mentor Knows It is only fitting that my first blog post be about mentorship. On October 1, 2017 ICM will celebrate our 20th year...