Ben Bernanke has said many times that Marriner Eccles, the head of the Federal Reserve in 1936/37 made a mistake by tightening credit (raising reserve requirements). Bernanke blames Eccles’s actions for the 50% stock market collapse in 1937 and the …
Oct 4, 2011
Italy’s future – a theme park
By Spengler
Not a crisis, but a negotiation is underway among the debt-ridden countries of southern Europe. Greece and Italy illustrate Spengler’s Universal Law Number 15: Stick around long enough, and yo…
May 1, 2011 Monthly Update
Was the March 2009 low the end of a secular bear market and the beginning of a secular bull? Without crystal ball, we simply don’t know.
One thing we can do is examine the past to broaden our understanding of the rang…