“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.” …
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…
90,000,000 Americans Have Stopped Working
When the unemployment rate declines, even by a little bit, it should be good news. But when it declines because people are leaving the workforce in record numbers, it’s not.…
Ben, the Great and Powerful
“Bernanke said, in essence, that he wasn’t a magician.” …
Follow The Fed At Your Own Risk
If you think Fed Chairman Ben Bernanke has a firm grasp of the economy, you may change your mind after listening to Bain Capital co-founder Coleman Andrews quoting Chairman Bernanke…
It’s A Correction for Nasdaq, Russell Indexes
Stock markets have become increasingly bearish since the election. With the fiscal cliff approaching, and little confidence that Democrats and Republicans will agree on a solution to avoid it, the…
Going For Broke
So The Fed is “all in.” QE3, the third round of quantitative easting, will continue until the unemployment rate drops to an acceptable level. The implication is that buying bonds…
Bernanke’s “On the Other Hand” Speech
To the disappointment of many on Wall Street, and to the relief of many in the real world, the Federal Reserve Board did not announce a third quantitative easing program…
The Fed and Facebook
On the surface, The Federal Reserve Board and Facebook have nothing in common. But media speculation about Fed action is very similar to the speculation that preceded Facebook’s IPO. For…
Stock Rally Built On Wishful Thinking
“This is the most disrespected rally I’ve ever seen.” John Buckingham, Al Frank Asset Management Stock prices have rallied and are closing in on their highest level in five years. …