Pull Your Head Out of the Sand
In a recent speech to the American Economic Association, Fed Chairman Bernanke offered his explanation of the causes of the housing bubble. But Chairman Bernanke has his head in the sand. His explanation of the housing bubble is naive.
Harry Reid’s Resignation?
While today it appears probable that Senate majority leader Harry Reid (D-NV) will be defeated in his 2010 bid for reelection, an increasing number of Americans must in fact want to see Senator Reid resign.
Investment of the Decade
The investment of the decade and the exodus from Wall Street…
My New Year’s Gift to You
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Natural Gas Rising
These are America’s top 10 natural gas producers...
Boost Employment – Guaranteed
Did you catch President Obama’s jobs speech this week? Is this guy kidding? He wants a do-over of the stimulus.
The Economic Dream Team
This team of advisors is short on relevant experience. It’s time to bring in replacements.
A Nightmare Schedule
I have in front of me a most depressing chart. It shows the value of adjustable-rate mortgage (ARM) resets. The chart runs from 2006 to 2012 and has two peaks-almost like the back of a camel.
A Truly Ghastly Environment
This is a truly ghastly environment for yield-conscious investors. Three-month T-bills yield 0.03%, two-year T-notes 0.73%, five-year T-notes 2.09%, and ten-year T-notes a whopping 3.3%. Who is locking up money for ten years at a 3.3% yield?
Investment Success
In 1981, the Dow Jones Industrial Average ended at 875, 10% lower than its year-end value in 1965. During this wretched 16-year period, blue-chip stocks went nowhere. This was the ice age for stock prices. High and rising inflation and interest rates and big government were to blame. This sounds eerily similar to America’s prospects today.