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By Jeff Harding Nassim Taleb, “Mr. Black Swan” is affiliated with Universa, a hedge fund in Santa Monica. Those of you who have followed this blog are aware that Taleb’s books, including The Black Swan, have made a huge impact on the investment world through his ideas on investment risk. I think his analysis has been brilliant. And [...] By Jeff Harding [Corrected version] This article comes under the category of “who do you listen to and why?” I ask this question frequently, especially when I read something by Paul Krugman. Nobel laureate Paul Krugman is one of America’s best known economists through his commentary in theNew York Times. Yesterday he declared we won’t have inflation. The sign [...] By Jeff Harding On March 2, 2009, I wrote a piece suggesting that the Obama Administration may be looking at a national sales tax as a new revenue source since Obama has pledged to not raise income taxes. Oh ye of little faith! Here’s an article from the Washington Post, “Once Considered Unthinkable, U.S. Sales Tax Gets [...] David Rosenberg, formerly Chief Economist at Merrill Lynch, and now with investment manager Gluskin Sheff, talks about whether or not the recession is over. Rosenberg called the economic crisis correctly. VIdeo Interview By Jeff Harding Every major Fed induced boom-bust business cycle targets a specific asset class. In the present case, and for most of the world, it was real estate. We have discussed this many, many times. This business cycle has been correctly deemed the biggest credit cycle in history. If you have the biggest boom wouldn’t you have the [...] By Jeff Harding This is going to be good. The election is just over and the fur is flying here in California. Before the election Arnold said that anyone who thinks the $24 billion deficit can be fixed “with just cut doesn’t know math. And they should go back to Math 101. . . . I [...] By Jeff Harding Fed Chairman Ben Bernanke gave a startling commencement address for the Boston College School of Law Class of 2009 this week. He admitted an apparent turnabout of his fundamental views of economics. No news media picked up the significance of what he was saying. After the introductory [...] By Jeff Harding The Wall Street Journal published an article Monday that was startling in its lack of investment insight, especially in light of the current economic crisis. The title of the article speaks for itself: “Many Bought Shares High, Sold Low.” Apart from stating the obvious, the article goes on to say “Judy Brady [...] Fellow Californians, now is the time for us to speak to our legislature and tell them to stop spending. I urge you to vote no on Propositions 1A, 1B, 1C, and 1D. They are a fraud upon the citizens. Vote yes on 1F. These are the most mendacious of accounting tricks I have ever seen [...] By Jeff Harding I have been saying that there are no “Green Shoots” of recovery-yet. You can review my previous articles demonstrating that the concept of green shoots is wishful thinking, here, here, and here. Please don’t think of me as a Cassandra bringing only bad news; I try to see [...] By Jeff Harding Ken Lewis, the CEO at Bank of America, is now being hailed as “a master at playing the government.” The article in the NY Times DealBook column suggested that Lewis needed to be good at government relations in order to save him from the bad deals he negotiated for the [...] Nassim Taleb says buy gold, buy copper. By Jeff Harding I thought it would be fun to just take an average news day and interpret it according to my unique way of looking at the world. Everyone else in the blogging world does this, so I thought I would give it a try. No, my ego has not swelled beyond [...] By Jeff Harding I wasn’t going to report on the bank stress tests because I saw it as political theater rather than as anything significant. I knew it wasn’t going to be a rigorous test. It’s like the physical education requirements in public schools where they have lowered the standards [...] Meredith Whitney has a very good track record and understanding of what is happening in the economy. Here’s the latest interview of her with CNBC’s Maria Bartiromo. Worth watching. Tim Geithner on the Stress Tests via Saturday Night Live. By Jeff Harding “It’s a beautiful thing, the destruction of words.”
George Orwell's 1984 Here’s a bit of good news for your weekend: the Obama Administration is not going to raise your taxes. However, if you are taking advantage of loopholes in the tax code, which, as everyone knows, are bad things, [...] By Jeff Harding Here’s the quote from the Wall Street Journal: The U.S. unemployment rate in April hit 8.9%, its highest in a quarter century, the Labor Department said Friday. But the pace of job losses slowed, in new evidence the economy was no longer deteriorating as quickly as it was earlier this year. The [...] By Jeff Harding I received an interesting comment to my Mr. Sunshine article from Hans Palmstierna at Saving Capitalism. I suggested that we will see more deflation before we see inflation. Hans said: I would argue that the “nominal” bottom is soon here. With the money now flowing at full speed (M1 at around [...] |
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