Defaulting on bond payments isn’t just for Europe anymore. Detroit and several cities in California have defaulted on bond payments. Now Puerto Rico may be in trouble, as its bonds…
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…
The Off-On-Off Economy
The economy recently has been full of stops and starts, ups and downs, good news and bad news. Optimists will say that progress is being made, as we’ve moved beyond…
The Unnoticed Recovery
It seems that every day we hear about a stronger economy with real jobs, a recovered housing market and renewed manufacturing strength being just ahead. We hear about it. We…
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…
Keep On Easing
Ease on. That’s the message that Fed Chairman Ben Bernanke delivered this week, causing the bond market to rally, the stock market to hit new highs and the seas to…
Bad News Is Good News
Good news. The economy still stinks. In today’s economy, which is driven by The Federal Reserve Board’s quantitative easing (QE) program, bad news is good news and good news is…
The Second Housing Bubble
“Demand is artificially high … and supply is artificially low.” …
Forever Blowing Bubbles
“I’m forever blowing bubbles, Pretty bubbles in the air They fly so high, nearly reach the sky And like my dreams they fade and die.” …