In May, when Fed Chairman Ben Bernanke said that quantitative easing could not continue forever, the stock market tanked and the word “tapering” became the most feared word on Wall…
Another Record Smashed: More Than 100,000,000 Americans Not Working
The Labor Force Participation Rate has fallen and it can’t get up. The U.S. Bureau of Labor Statistics (BLS) reported this week that 90,609,000 Americans who are 16 or older…
The Queen of QE
Amidst a government shutdown, a debt-ceiling crisis and other assorted financial turmoil, President Obama this week nominated Janet L. Yellen to chair the Federal Reserve Board. As a Keynesian economist…
The Beat Goes On
From a future article in The New York Times: Janet Yellen, retiring chair of the Federal Reserve Board, announced that The Fed’s quantitative easing program, aka QE12, is close to…
Get Back to Work
Labor Day has passed. It’s time to get back to work … or at least think about work. Work, or the lack of it, is what the economy is all…
The Age of Low Expectations
Observing today’s global economy is like watching Adam Sandler’s best movie. It’s horrible, but it could be worse. Consider what passes for improvement today: Europe is no longer in a…
House of Cards
The current housing recovery is not a house of brick, but a house of cards. The cards came tumbling down this week, as the U.S. Commerce Department reported that housing…
Obamacare’s Economic Impact
What would be a more effective way to increase employment and boost the economy – continue quantitative easing or repeal Obamacare? The answer is obvious to anyone paying attention. After…
Key Indicators Negative Across The Board
The worst things get, the more they stay the same. As the stock market continues to set records, the latest Philadelphia Fed Business Outlook Survey shows that the business outlook…
Blame It on Sequestration
President Obama and the Federal Aviation Administration blamed recent flight delays on sequestration. Now the Federal Reserve Board’s Open Market Committee is blaming sequestration for the poor performance of the…