Tag Archives: federal reserve
Lurching Back into the Vicious Cycle of Recession
Last Friday the Commerce Department announced that private sector wages and government benefits both fell in August. The combination of these two undesirable data points resulted in the first monthly decline in overall personal income since October 2009. What this … Continue reading
On Scientific Management of the Economy and Going for Broke
Federal Reserve Chairman Ben Bernanke should never have left Princeton. He’s much better suited for a lifetime of pontification than real work. Not that chairing the Federal Reserve is real work. Yet, even so, at least as a professor his … Continue reading
Magnifying a Magnificent Debt Bubble
Last week it was discovered that, Kweku Adoboli, a 31-year-old equities trader for the Swiss bank UBS, had gone rogue. In a remarkable misadventure he managed to blow $2 billion of other people’s money at his employer’s expense. Apparently, UBS … Continue reading
Why U.S. Treasuries are No Longer the Safest Investment in the World
The world’s a humbling place. It’ll change right before your very eyes and you don’t even know it…until it’s too late. Where markets are concerned this can be an expensive and chastening lesson. Not long ago it was common knowledge … Continue reading
