Satan is now firmly in control of the markets. No, we’re not talking about Ben Bernanke, aka Edward Quince. His time has passed. We’re talking about a high-frequency trader who…
Too Much Interest in Interest Rates
There has been much market panic of late over the possibility that the Federal Reserve Board will be raising interest rates sometime in the not-too-distant future. Small cap stocks were…
It’s Only Money
“Money often costs too much.” …
Janet Yellen Takes Us Through the Looking Glass
“When I use a word, it means just what I choose it to mean — neither more nor less.” Lewis Carroll, Through…
A Not-So-United Kingdom
“Separation is forever.” …
Now Bad News Is Bad News
With the end of quantitative easing due to take place next month, reality may once again have an impact on financial markets. Since QE began more than five years ago,…
Less than “Less than Zero”
In June, the ECB lowered the interest rate on bank deposits, including reserve holdings in excess of the minimum reserve requirements, from zero to -0.10%. This week, surprising just about…
Going Prudential In a Macro Way
Obfuscation is an art form in which the Federal Reserve Board excels. It follows a few simple rules: Never use a word or phrase that is simple and widely understood…
The Economy Is Booming – For the Repo Man
“Credit is a sacred trust, it’s what our free society is founded on. Do you think they give a damn about their bills in Russia?” …
Baby Boomer Bust
Each day, another 8,000 baby boomers turn 65. The U.S. Census Bureau says there are more than 77 million baby boomers, defined as those born between 1946 and 1964. By…