One Step Forward, Two Steps Back? What do the 2010 home buyer tax credits have to do with today’s stock market? After producing a huge spike — actually two, due to the initial credit being extended and expanded — the housing market resumed its swoon. With a vengance: the second half of 2010 and well into...Read More
The Limits of QE (“Quantitative Easing”) I’ll tip my hat to the new constitution Take a bow for the new revolution Smile and grin at the change all around me Pick up my guitar and play Just like yesterday And I’ll get on my knees and pray We don’t get fooled again Don’t get fooled...Read More
Will He or Won’t He QE III?? If you’re going to spend 5 minutes watching the markets today — personally, I can think of better uses of my time — the interval to watch is definitely 1:16 p.m to 1:21 p.m. Why’s that? Because Fed Reserve Chairman Ben Bernanke starts speaking at 1:15 p.m. today regarding...Read More
“Do Deflated Bubbles Always Overshoot?” Cont. The Green Bay Packers never lost a game. They just ran out of time. –Vince Lombardi If you missed my tête-à -tête last week with Barry Ritholtz (“Why the Housing Bears are Bearish“), let me summarize: Mr. Ritholtz wrote that, even after a 35% drop from the peak nationally, housing...Read More
Actually, the following joke is obsolete: I can tell you exactly where interest rates are going, because Ben Bernanke told me (and everyone else): zero, for a long time. So, just substitute “stocks” for “interest rates.” Enjoy . . . Einstein dies and goes to heaven only to be informed that his room is not yet...Read More
Check Out the Podcast Instead The Friday bylines for any news Fed Chairman Ben Bernanke makes tomorrow will all say “Minneapolis.” That’s because Mr. Bernanke will be here, giving a 90 minute lunchtime address at the Economic Club of Minnesota. Want to attend? You’re too late; according to the ECOM’s Web site, “due to the extraordinary...Read More
