Commonsensical…
I received this text last evening from a friend; “your buddy Krugman is insane, keep destroying him”—I imagine he just read the Princeton professor’s latest NY Times Op-Ed. As much as I’d like to...
View ArticleToday’s Quotes
From Thomas Sowell‘s 2010 edition of Applied Economics: While politicians can be expected to pay far more attention to political decisions than the average voter will, the nature of that attention is...
View ArticleDudes we have to cut spending…
Last weekend I posted an article titled Safe to expect a messy market if no deal. Yet, not an event for the long-term investor. Well, a (tax) deal was had, and the Dow spiked 300+ points on the first...
View ArticleMen of systems…
The man of systems . . . seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chessboard. He does not...
View ArticleMinimum wage commonsense…
This morning’s NY Times editorial, And at the Bottom of the Wage Scale, argues for an increase in the federal minimum wage. The author links to a couple of studies that bolster the point. I merely...
View ArticleWhat’s up with the market?
Today a friend asked me why the market’s been up lately. To him it doesn’t make sense. He works with businesses and sees firsthand the numbing effect of tightened regulations and uncertainty over...
View ArticleThe Life and Wisdom of Thomas Jefferson…
While you and I consider Thomas Jefferson’s insights to be utterly profound, I suspect he considered them to be utter commonsense… A friend forwarded me the following: At 5, began studying under his...
View Article‘NOT’ A Greek Tragedy After All…
A little over a week ago in Could’ve Been a Greek Tragedy I announced that Credit Default Swaps (insurance) on Greek debt would be triggered, indemnifying the insureds the amount of the hit they’d take...
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Great Economic News!!
Here are four of the more stress-evoking, market-moving headlines of the past week or so… Each followed by a nonintuitive, stress-relieving, and legitimate, interpretation… I.e., think longer-term and...
View ArticleWhere No Bond Has Gone Before
CNBC reported this evening that the biggest buyer of bonds during the first quarter was the “mom-and-pop investor”. The author views this as cause for calm when it comes to concerns over a potential...
View ArticleThe Euro Solution: Taxpayer-funded Vacations
Famed NYU Econ Professor Nouriel Roubini told a German newspaper yesterday that Europe needs to “stop the savings madness.” He said that Germany should give its citizens a 1,000 Euro voucher to be used...
View ArticleCoordinated Actions of Uncoordinated Actors – Or – How “pride persuades us...
I entirely agree with (in terms of history supporting) CNN Money‘s Allan Sloan’s assertion that the stock market, over the course of a term in office, goes largely un-directly-affected by the man who...
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Nothing to celebrate…
Did I say earlier that I’d give the buy-the-news scenario a 50/50 chance. Dang! I meant to say 100%. Truthfully, the only thing I had guts enough to handicap (not counting the zero chance of a complete...
View ArticleSo easy to lose perspective…
After a year like 2013—assuming the market doesn’t drop 30% tomorrow—it’s easy for investors to lose perspective. As is always the case after a significant market move (this go-round an advance), folks...
View Article‘NOT’ A Greek Tragedy After All…
A little over a week ago in Could’ve Been a Greek Tragedy I announced that Credit Default Swaps (insurance) on Greek debt would be triggered, indemnifying the insureds the amount of the hit they’d take...
View ArticleEveryone wants a correction. That is, until they get it…
Here’s a little update on how I see the current state of the equity markets: Some of the good news (assuming you view continued rising stock prices from here as a good thing): December retail sales up…...
View ArticleBlog was down yesterday evening…
In case you couldn’t get these yesterday’s, here are links to my last two blog posts: THE COLOSSAL, INCALCULABLE COST OF PROTECTIONISM… EVERYONE WANTS A CORRECTION. THAT IS, UNTIL THEY GET IT…
View ArticlePolitical forces seem to trump market forces when it comes to the minimum wage…
Here’s a snippet from a CNN report where the brilliant Warren Buffett exposes a lack of brilliance—or, more likely, a stab at political neutrality—when it comes to the minimum wage: He also said he...
View ArticleMarket Commentary (audio)
In this morning’s brief commentary, with regard to geopolitical concerns, I make reference only to Russia. Not to discount the turmoil in other parts of the world, but in global economic terms, it’s...
View ArticleA thoughtful PhD on inequality…
If you’re interested in seeing beyond the politics of inequality, watch this interview with Dierdre McCloskey (HT Don Boudreaux). She’s the thoughtful sort of PhD I referred to in yesterday’s blog...
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