Progeny of “Trickle Down Economics” Want today’s housing market — at least in many locales — in a (sober) nutshell? Here it is: Home Sellers now divide into two groups: those with equity, who can afford to sell; and those who are underwater, and can’t. The ones who can afford to sell, are — but...Read More
Colbert Interview with Eliot Spitzer I’m not a Stephen Colbert regular, but I did catch his interview the other night with “disgraced former New York Governor Eliot Spitzer” (that’s now Spitzer’s official moniker, by the way). Colbert’s cut-to the chase question: even if Wall Street is full of inept crooks and greedheads, as most everyone...Read More
Trickle-Down Economics, Wall Street-Style Floyd Norris, one of my favorite financial writers, ran a post earlier this week noting a recent London jewelry store burglary where the average bauble cost $1.5 million. That prompted this observation, “It will be hard for stores like this to stay in business if governments refuse to support bankers in...Read More
“Trickle Down” Economics to ‘Bubble Up’?Soft drink aficionado’s may recall “Bubble Up” as a long-ago rival to 7-Up. It may also be the best label for today’s, post-crash, post-Trickle Down economy. Notwithstanding the latest, dire Case-Shiller statistics, Realtors in many cities nationally are reporting more and more instances of multiple offers for deeply discounted, bank-owned...Read More
