Keynesians Chortle in Their Joy

Now that Ben Bernanke continues to have a friend in the White House, all’s going to be well in the world- at least economically.  At least, that’s the impression large segments of the media is promoting.  

When any segment of the media and market participants are feeling so good about things that they appear [...]


Germans Channel Austrians As They Prepare To Do What the U.S. Should Have Done Last Decade

The Germans, who along with the French took the lead last decade in violating the Maastricht Treaty’s limitations on fiscal deficits for eurozone member states, are uniting to reject pleas from advocates of loose monetary and fiscal policy in Europe (allegedly to “save” improvident debtor nations).  In doing so, they are looking not to Keynes [...]


Different Markets Looking Very Different As the Period Of Highly Correlated Trading Has Ended (For Now)

Today’s market action (Wednesday, 3/28) showed strong tech stocks up (AAPL, GOOG, IBM) while commodities were hit hard.  The commodity fall has now almost become a clearly-failed rally for all the precious metals off of last fall’s base.  I take this along with China’s stock markets’ 2-4% falls yesterday (now open about 1% down tonight [...]