I did not ask for this book, but I am glad the publisher sent it to me for free. There is a lot of concern over inflation in the present era, but not a lot of structured thought about what drives inflation. This book takes the...
Read MoreMany of you have heard of the blog Naked Capitalism, and its pseudonymous writer, Yves Smith. Well, she has written what I regard as an ambitious book, ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted...
Read MoreI don’t have an image for the cover of this book because it will not be published until June. Nor will I have other links to Amazon. I like to review books, and I will do it whether I get compensation or not. Unlike most...
Read MoreAgain, Greenspan’s comments are in italics. Part 1 can be found here. Greenspan’s full paper can be found here. Part of the dynamic here is while leverage is increasing, and sham prosperity is growing, there are few that will...
Read MoreThis article is derived from Greenspan’s latest paper. Greenspan’s comments are in italics. Mine are in normal type. Greenspan begins his argument: The bankruptcy of Lehman Brothers in September 2008 precipitated what, in...
Read MoreJake at Econompic Data had a good post on credit and equity. (He runs a good site generally.) They are correlated, but not all of the time. As I commented: When yields are low, equities thrive because financing costs are low....
Read MoreUnlike most people who analyze investments, I think there are periods of time where domestic long-only investors may be consigned to low or even negative returns. As investors, we are generally optimists; we don’t like can’t...
Read MoreJanuary 2010 March 2010 Comments Information received since the Federal Open Market Committee met in December suggests that economic activity has continued to strengthen and that the deterioration in the labor market is abating....
Read MoreShould regulation be dumb? In one sense yes, in others, no. It really depends on how well the regulators understand the risks involved, and how much they can encourage professionalism among profit center heads and risk...
Read More
