Drawbridges . . . Up In just a few weeks, some of my favorite “free” content . . . won’t be. That includes mainstream publications like The New York Times, but also specialty online newsletters like “Breakfast with Dave,” authored by Gluskin Sheff chief economist David Rosenberg. Even The New Yorker, which is busily promoting its iPad app, quietly omits the fact...Read More
Economic Theory, Then & Now The U.S. is now 234 years old, and yet over half the nation’s money supply was created since Helicopter Ben took over the flight controls four years ago. –David Rosenberg; Chief Economist, Gluskin Sheff It’s hardly a saving grace for today’s financial mess, but it HAS been gratifying to see...Read More
Sell (Stocks) High, Buy (Housing) Low . . . Again? Stock market investors who’d gotten in at much lower levels and were worried that a correction was overdue decided to take profits. The sector they turned to? The housing market, where wary Buyers burned by the last downturn were still keeping their distance — or...Read More
Strategic Defaults Driving Retail Sales? A penny saved is a penny earned. –Benjamin Franklin, circa 1780 A penny defaulted on is a penny earned. –Benjamin Franklin, 2010?? No, I have no way of knowing whether a modern-day Benjamin Franklin would have uttered the second quote. In fact, he didn’t even say the first one (that...Read More
U.S. Dollar Down, Everything Else . . Up! Perplexed by the action in stocks and commodities since last Spring? (I’ve addressed housing in many, many other posts.) See the explanation (below), courtesy of David Rosenberg, chief economist and strategist at Toronto-based investment manager Gluskin Sheff. It’s a bit wonky — note the references to the...Read More
