“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?” …
It’s a Mad, Mad, Mad, Mad World
Isn’t summer supposed to be the time when life slows down and the world takes a vacation? That may be the case for some of us, but the despots of…
Bad News – The Economy May be Recovering
“This is what it sounds like when doves cry.” …
Only a Half Trillion Dollars
It’s a sign of how much trouble we’re in when a budget deficit of a half trillion dollars seems like fiscal restraint. It is progress, given that annual budget deficits…
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…
Sprinkling the Fairy Dust of Illusory Riches
When the Bank for International Settlements (BIS) calls central bank market rigging “the fairy dust of illusory riches,” it’s time to pay attention. The BIS is the central banks’ central…
Prozac Nation
It’s all stress-free bliss these days … at least for anyone who’s not paying attention. Has someone been putting anti-depressants in the water supply? That’s one way to explain Wednesday’s…
The Market’s Missing Mojo
Easy money policy has its share of side effects. The stock market continues to hit new highs, thanks to the Fed, but the level of risk that investors and taxpayers…
Mario the Magnificent
It will take more than higher prices to cure what ails the European economy, but Wall Street reacted to the European Central Bank’s inflation-boosting efforts by setting new records yesterday.…
Polar Vortex or Recession Redux?
The recovery that wasn’t a recovery may have come to an end, as the Bureau of Economic Analysis reported that gross domestic product dropped by 1% during the first quarter…