Ben Bernanke’s Unintended Consequences The good news? Ben Bernanke has confounded naysayers, and proven that The Federal Reserve really can resuscitate (levitate?) the stock market — now up 85% from The Crash of ’08 lows. How? By printing money — lots and lots of money — and driving interest rates into the toilet (and keeping...Read More
Why is This Man Still Collecting Speaking Fees? Why can’t Alan Greenspan retire? About to turn 85 next month, it’s not that he isn’t old enough. And, after all these years of lucrative consulting and speaking fees, it’s not exactly like he needs the money. So, why is Greenspan spending his time going around the...Read More
Waiting on Economists’ “Chants and Charms?” “A mighty good chant,” said the King, looking very pleased. Are you sure it will work?” All the magicians nodded together. “But,” said the King, looking puzzled, “How long will it take?” “Be calm, oh, Sire, and have no fears,” chanted the magicians. “Our charm will work in ten...Read More
What’s an Investor to Do? [But] as long as the music is playing, you’ve got to get up and dance. –Former Citigroup CEO Chuck Prince Perplexed by a stock market that (inexplicably?) is once again on the rise — along with all manner of commodities (oil, gold, silver, etc.)? That, despite at best conflicting economic...Read More
Protecting Consumers From Banks It turns out that Harvard Professor Elizabeth Warren will head the new Consumer Protection Financial Bureau, after all. The Bureau, which Warren proposed creating, is charged with ensuring that “consumers are protected from unfair, deceptive, or abusive acts and practices and from discrimination.” Seeing as how millions of consumers are routinely...Read More
First, the Trial Balloons What is all this fuss I hear about the Supreme Court decision on a “deaf” penalty? It’s terrible! Deaf people have enough problems as it is! –Befuddled spinster Emily Litella, one of Gilda Radner’s several characters on the original Saturday Night Live. Emily Litella comes to mind as the murmuring about...Read More
