“Credit is a sacred trust, it’s what our free society is founded on. Do you think they give a damn about their bills in Russia?” …
Baby Boomer Bust
Each day, another 8,000 baby boomers turn 65. The U.S. Census Bureau says there are more than 77 million baby boomers, defined as those born between 1946 and 1964. By…
The QE Apocalypse
The end is near. The Federal Reserve Board has now put a date on the quantitative easing apocalypse, letting us know that bond buying will end in October – unless…
Attention Deficit Capitalism
“Democracy would not be democracy, rule of the people, without at least a modicum of political attention and activity from its citizens.” …
Household Income Shows Troubling Outcome
Hold off on the victory dance. The 2014 “Economic Report of the President” and many media reports indicate that the U.S. economy has finally recovered. But has it? One measure…
The Economic Recovery That No One Noticed
The average recovery since the end of World War II has been 58 months. The current “recovery” has just reached that milestone. So maybe we should be celebrating. But what’s…
Mission Not-Quite Accomplished
Remember when the announced goal of quantitative easing (QE) was to reduce the unemployment rate to 6.5%? It’s now 6.6% and heading down. So can we expect QE to finally…
Define “Forever”
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…
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…