Summary: We’re in a time of great events. Like all such, it consists of breaks with the past combined with periods of deceptive calm. This is a transition between the post-WWII era and the as yet unknowable new regime that lies ahead. The stock market provides a mirror in which we can see these great …
When you look back on this day & remember the bubble… Read More »
Summary: After years of quantitative easing, with the Fed starting to slow the third great wave, officials are breaking their facade of confidence to admit what many of us have long said. They do not know how QE works, or the effects of ending it. QE is an experiment, one of the greatest economic experiments …
Wagering America on an untested monetary theory Read More »
Summary: The US and Europe have not recovered from the 2008-09 crash in part because we applied first aid, but squandered the time those measures bought for us (at great cost). An essential aspect of post-crash reforms is fixing our financial systems. The bailout of Spain’s banks — expensive for Spain’s people, easy money for …
The bailout of Spain’s banks shows the heart of our problem Read More »
