Economic “research” about the zero lower bound is a crock…
Central bankers are not nimble traders. By their very bureaucratic nature, they leave big muddy footprints all over markets. Sometimes that is by design, a show of force to scare some evil speculators into going straight. Other times, it just can’t be helped. The way it works in China, the autocratic structure doesn’t leave much […]
There are things to feel optimistic about. I’ve been pegged as a doom and gloomer, and so long as things remain as they are, I don’t see what’s wrong about it.
This is the fantasy: we can rebuild our entire global industrial society every generation or two forever.”Earthrise” is one of the most influential photographs ever published. Taken on the Apollo 8 mission in late December 1968 by astronaut Bill A…
How can I not talk about the Fed? How can I not talk about the daily jawboning? It is all around us. Every. Single. Day. And it keeps working. I feel like […]
It certainly doesn’t feel like a bubble. We’ve heard about home prices in many cities skyrocketing like there has been one, still there does seem to be something different. If it is a bubble, it sure isn’t the same as the last one, the big one fifteen years ago. Much is missing this time around. […]
It seems a paradox, at least like it is backwards. The financial media doesn’t help because good editorial standards rely upon the opinions and beliefs of credentialed people who have no idea what they are talking about. If you hold high office in some central bank, we are to assume you are competent about monetary […]
The US Federal Budget Deficit is growing. That makes the US economy look good. And that’s bad news. Federal Tax revenues rose in June. The…
Every once in a while, especially at market extremes, it’s good to take a stake of the bigger picture. Now that the market, highly encouraged by the Fed, has baked in a […]
They kicked the can into July, but it was there for all to see. Here’s what it means for your investment strategy. Subscribers, click here…
