Turning Keynes Inside Out “Markets can stay irrational longer than investors can stay solvent.” –John Maynard Keynes In light of The Federal Reserve’s unprecedented, going-on-six-year campaign of monetary stimulus, perhaps the question to ask isn’t, “why are stocks trading at record levels?” Rather, it’s “why aren’t stocks even higher?” My answer: because at least some...Read More
Shackling the Bond Vigilantes In a world where pundits divide into those who think the federal government should be doing more to help the economy, and those who think it’s already done (way) too much, economist and New York Times columnist Paul Krugman lands squarely in the former camp. In fact, you might say that he is...Read More
