Tag Archives: federal reserve
Divided We Stand United We Fall
By the time the Vandals sacked Rome in A.D. 455 the empire of the Caesars had already receded from Western Europe. Over several decades the vast territories of Britannia, Hispania, Gallia, and Italia gave way, piecemeal, to barbarians until imperial … Continue reading
Smiling with Gratitude
The Commerce Department reported Tuesday that the economy grew at an annual rate of 2 percent in the third quarter…a downward revision from the initial 2.5 percent estimate made last month. More importantly, it was reported that after-tax, inflation-adjusted incomes … Continue reading
European Money Printing: What Could Possibly Go Wrong?
Last Friday, while many were off for Veteran’s Day, we put in a day at the office, belaboring things portentous to our clients…and by extension ourselves. Nonetheless, we paused a moment to consider the ‘all quiet on the western front’ … Continue reading
Making the Impossible Possible
This week brought new evidence, not necessarily that the stock market efficiently allocates capital to its most productive use, but that it effectively separates fools from their money. The fool gives…Wall Street takes away. In other words, the house always … Continue reading
