So the taper begins in January. Big deal. That was the market’s initial reaction anyway. In fact, the market viewed this week’s announcement as a positive, setting yet another record. …
Taperphobia Hits Wall Street
A taperphobia epidemic has Wall Street in a panic yet again. “Taperphobia” is an irrational fear of common sense. Symptoms include a falling stock market, soaring bond yields and ongoing…
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…
Spending Our Way to Prosperity
Focusing on the government shutdown is like rearranging the deck chairs on the Titanic while drawing closer to the iceberg. The iceberg in this case is the massive government debt…
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…