Different mainstream media are reporting sentiment and technical features consistent with a major stock market top. As Japan can attest, bear markets and recessions can occur without central bank tightening. We may be in a period, as was threatened in last summer’s meltdown, in which the mere lack of an active major Fed program to [...]
Yesterday was, almost literally, just what the doctor ordered. Stocks up, but not too much. Metals up, but not too much. Bond yields up, but only barely (no pun intended). Great leadership by the blue chips.
But to mix a metaphor, there was also a fly in the ointment the doctor prescribed. That fly is [...]
Economists cling to statistical data like barnacles in order to have some kind of anchor to explain what is going on in the world. They will try to cram the square data peg into the round holes of economic ”laws” rather than abandon them when they are obviously wrong. Which is not a very satisfactory way to explain things. [...]
Many millions of people worldwide would be glad to learn of the following headline that The Daily Capitalist hereby reveals: Eating Chocolate Regularly May Make You Leaner, Survey Suggests. Here are some excerpts from the Bloomberg.com report:
A survey of about 1,000 Americans that suggests eating chocolate may help people get leaner deserves to be [...]
For those of you who have the patience to watch Ben Bernanke give a lecture at George Washington University on the origins of the Fed and the role of the Fed in “curing” the Great Depression and the lead up to the current crisis, here are the two lectures for your pleasure. We will be [...]
This article originally appeared in Bloomberg and is authored by Amity Shlaes, one of my favorite writers (see below).
A little is all right. That’s the message Federal Reserve Chairman Ben S. Bernanke has been giving out recently when asked about the evidence of inflation in the U.S. recovery.
Sometimes Bernanke doesn’t even go that far. [...]
Ron Paul’s interrogation of Fed Chairman Ben Bernanke in two parts, from the Congressional Hearing earlier this week:
Sir Mervyn King, Governor of the Bank of England, appears to have had a meeting of the minds with Ben Bernanke, not surprising perhaps given they had adjoining offices at M.I.T. back in their academic youths. The Telegraph reports:
Sir Mervyn insisted he understood the problems facing savers, but made clear he believes he can [...]
Oops! They’ve done it again. Maybe.
Here’s the evidence that the Fed aborted a mini-recession with Operation Twist, which in association with enlarging its balance sheet by reinvesting dividends from its mortgage-backed securities portfolio was essentially the QE 3 that Jeff Harding had been predicting months earlier. Cleverly, though, they and the media didn’t call [...]
Gallup has put up a summary graph of consumer spending over the last few years. Happily, it begins with the tail end of the boom years.
This is not adjusted for price changes. Thus, when respondents reported $64 daily spending three Januarys ago and $63 this January, then three years of price [...]
It’s not often we make a shameless plug, but in this case it is for a good cause: Art. Billy Walsh of Heckle Sketch did this funny and symbolic painting of Ben Bernanke and his fat cat friends, ”Ben and the Fat Cat Banksters”. This is an acrylic painting and is available in several formats [...]