Former Chairman Ben Bernanke doesn’t regret much about the Fed’s actions since the financial crisis. But there’s one thing he does regret, he says: he didn’t explain the Fed’s actions to the American people. If he just could have explained his “wealth effect!”
Discount retailer Loehmann’s did what other retailers – and a large number of other junk-rated companies – will do once the Fed allows a sense of reality into the markets: it filed for bankruptcy. Investors had refused to fund fu…
Exuberant wealth managers expect another phenomenally good year for stocks in 2014, followed by more great years. They see bonds and bond funds as a juicy investment that belongs in every diversified portfolio, damn the torpedoes. They’re the vast majority of wealth managers.
In its report on shadow banking, the New York Fed buried some nuggets: Hedge funds and banks are bailing out of the highest-risk “opaque” but now relatively low-yielding loans – low yielding thanks to the Fed’s repressive moneta…
David Stockman, Budget Director under President Reagan and then a partner at private-equity firm Blackstone Group, has graciously permitted me to post excerpts from his…
Stability in the Japanese government bond market is “extremely desirable,” said Bank of Japan Governor Haruhiko Kuroda in a sign of just how frazzled he was after the turmoil and craziness that his over-the-edge experimental monetary policy…
In 1969, notes greater than $100, including the cool $10,000 note that would still pay for a lot of things, were retired due to “declining demand.” Prematurely, it…
Disclosure: I’ve been a fan of David Stockman ever since he got in trouble for speaking the truth as Director of the Office of Management…
Euros entered circulation on January 1, 2002. For six years, they grew on trees in southern Europe. But the bubble got pricked. Since then, the monetary union has been in crisis. Almost half of its existence! Until suddenly, its problems were solved. B…
in return for not shutting them down and sending people to jail.
“Treasury market will be fine, the banks will be captive buyers”
because they won’t be allowed to do anything else.
“Financial Repression”
lex Dexia? Did the US get this idea from st…
