The economic outlook can be summed up in five words: Everything’s great, except what isn’t. We’ll lead with the “everything’s great” part, as seen through the filter of the Federal…
Going Negative
“More money cannot cure what too much money created.” Frank Hollenbeck There’s nothing…
Hard Landing
The Federal Reserve Board’s Open Market Committee met last week for the first time since raising interest rates in December and then published its usual policy statement full of mush.…
In China, People Are Disappearing, but Problems Aren’t
President Obama has to be at least a little bit jealous of the power yielded by China’s leaders. He may use executive orders to get his way, but he has…
Happy New Year: Meh.
Well, it’s a brave new world for us cynics. Somehow, we all survived another year, but it wasn’t easy. It was a good year for terrorists (Paris, San Bernardino), despots…
Don’t Bet On It
“ … human beings have a natural tendency to manage risk after the fact.” Michael…
Just In Time for Christmas
Even if it were wrapped in shiny paper with a big red bow on it, virtually everyone would have guessed at this year’s Christmas present from the Federal Reserve Board.…
Nothing Lasts Forever
If the Federal Reserve Board has used all of its policy tools during the current expansion, what happens when there’s a recession? That’s a question worth asking, even as the…
The Big Disconnect
Imagine being stuck in a blizzard. You look out your window and can see the snow piling up outside, yet the meteorologist on your TV is forecasting continuing sunshine and…
Taper Tantrum Two
Call it Taper Tantrum Two. Two of the 12 members of the Federal Open Market Committee suggested on Thursday that it’s time to raise interest rates, causing the Dow Jones…