There has been lots of words and press spilled on the recent revelations about who the Federal Reserve “bailed out” during the recent financial crisis. Let me just use one such article to capture some of the...
Read MoreWe have been given Quantitative Easing 2 (QE2) by the Federal Reserve System in the United States and now we are facing Stress Tests II (ST2) to be imposed on banking institutions in the European Union....
Read More“The U. S. dollar is recapturing its role as the primary safe-haven currency, eclipsing the yen and the Swiss franc, as tensions in Korea and Europe escalate.That re-emergence as the ultimate sanctuary for those fleeing...
Read MoreAre the financial markets the WikiLeaks of economics?Politicians and economists and business people ignore what financial markets are saying at their peril.The financial markets have not responded well to the...
Read MoreWhy is the rate of inflation so low in the United States when the government has pumped huge amounts of debt into the country and the Federal Reserve has loaded the financial system with large amounts of liquidity?The same...
Read MorePaul Krugman says it all this morning in the New York Times: “If Spain still had its own currency, like the United States—or like Britain, which shares some of the same characteristics—it could have let that...
Read MoreThe number of problem banks, as listed by the FDIC, continued to rise in the third quarter of 2010. The number went from 829 at the end of the second quarter to 860 in the third quarter. Forty-one banks failed in the third...
Read MoreThis question is the defining question in finance and economics today.Yet, the predominant approach used in macroeconomic policymaking does not include debt and the possibility of defaults in its model. So, the policy answer is...
Read MoreWorking in urban neighborhoods can be a very disheartening experience.There are so many problems that at times they can seem overwhelming. One of the most discouraging problems that one runs into over and over again is the...
Read MoreWell, one of my major arguments made it to the op-ed page of the Wall Street Journal today, but I didn’t write it: Andy Kessler, a former hedge-fund manager wrote it. I agree with most of what Mr. Kessler says in his...
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