Some things never change. Apparently, the interest rate for Federal funds is one of them. To the surprise of no one – except the “experts” and journalists who have been…
Place Your Bets
“What mighty Contests rise from trivial Things … ” Alexander Pope, The Rape of the Lock …
Correct Yourself
Last week was a tough week for investors, given that the market dropped for six consecutive days. It was an even tougher week for financial advisors and investment managers who…
Maybe the Fed Is Just Lazy
Just last month we reported that the Federal Reserve Board’s policy statement was almost identical to its previous policy statement. Now the Fed has issued another policy statement – and…
Big Board Floored
The Big Board is not so big anymore. A decade ago, it accounted for 80% of stock trades. Today, it accounts for 20%. There are also far fewer publicly traded…
What Yellen Should Have Said
The question reporters should be asking now is, what did the Federal Reserve Board’s Open Market Committee do for two days last week? The statement it issued based on its…
Central Bankers: Masters of the Universe
Earlier this month, along with our usual dire observations about an economy that has come unhinged, I noted that the world was not coming to an end. On closer inspection,…
Stock Market Continues to Set Records, But Why?
Let’s take a simple quiz and answer the following multiple choice question. The stock market is hitting new highs because: Corporate earnings are at an all-time high. The economy is…
Habitat for Inhumanity
The idea was logical enough. Reduce interest rates, making housing more affordable, which would produce a recovery in the housing market. The housing market was at the heart of the…
Brady Plot Puts U.S. Economy on Verge of Deflation
The Federal Reserve Board – which may be the smartest deliberative body on the face of this earth – bought more than $3.5 trillion in bonds in an effort to…