Money

Oh Yes, It Started Out As A Mental Health Bill

By |2018-10-03T16:43:10+00:00October 3rd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

On March 9, 2007, Rhode Island Representative Patrick Kennedy introduced HR 1424. At the time it was to be known as the Paul Wellstone Mental Health and Addiction Equity Act of 2007. The bill contained five small sections intending to ensure equal coverage and treatment for mental health issues under insurance claims. It passed the [...]

China’s Industrial Dollar

By |2018-10-01T18:32:06+00:00October 1st, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In December 2006, just weeks before the outbreak of “unforeseen” crisis, then-Federal Reserve Chairman Ben Bernanke discussed the breathtaking advance of China’s economy. He was in Beijing for a monetary conference, and the unofficial theme of his speech, as I read it, was “you can do better.” While economic gains were substantial, he said, they [...]

Unhappy Labor (Day)

By |2018-09-04T13:04:16+00:00September 4th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In November 1929, faced with the growing prospects for serious economic reverse, President Herbert Hoover gathered the heads of major American industrial businesses to confer at the White House. Primary on his agenda was wages. For workers, depression was simple. Work was hard to find but more than that what labor might be exchanged would [...]

Deflationary Decade(s)

By |2018-08-06T16:44:09+00:00August 6th, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I’ve seen a lot of commentary lately describe conditions as if things are calmed down. There was a bit of growth scare, a little T-bill indigestion earlier in the year. The Chinese are somehow both stimulating their export sector by devaluing CNY, and also controlling the price of gold while they do it. The contradictory [...]

What Really Happened In Europe

By |2018-05-07T19:03:02+00:00May 7th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The primary example of globally synchronized growth has been Europe. Nowhere has more hope been attached to shifting fortunes. The Continent, buoyed by the persistence of central bankers like Mario Draghi, has not just accelerated it is actually booming. Or so they say. Last September, politicians were lining up to confidently declare as much, often [...]

Making (of) A Statement

By |2018-05-02T15:58:37+00:00May 2nd, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I am decidedly in favor of going back to the way it was twenty-five years ago. These constant communications from the Federal Reserve, designed to increase transparency, have accomplished the opposite. Alan Greenspan was made famous for first being an accidental genius (no, it wasn’t massive offshore monetary growth that made the Great “Moderation”, it [...]

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