- Existential Equity Extraction and 6 months to Housing Hell
April 3, 2006For the past decade, homeowners in the United States have been living in "Housing Heaven". In this heavenly place, profits are always made; prices only go up...
- Americans too Rich and Sophisticated to Work
April 7, 2003The latest unemployment report shows the psychologically important unemployment rate holding a "rock solid" 5.8%, even though over 450,000 workers left employment...
- Beyond Keynes to Inflation
January 9, 2006Orthodox economic training in the United States in the post-World War II world, centered on the observations of John M. Keynes who claimed that to keep an economy...
- The Fed and Pavlov's Sheep
May 20, 2004Ivan Petrovich Pavlov was a brilliant Russian Physiologist whose experiments on animals led to discoveries that would make the demented doctors in World War II,...
- Comparative Advantage: Destruction of American Industry
February 27, 2004I would be the first to champion the benefits of Free Trade based on legitimate Comparative Advantage. As a graduate student at Harvard, I had the privilege to...
- Death of the Carry Trade
June 6, 2005In the financial markets, the term "Carry Trade" refers to the way that most financial intermediaries (money center banks, Wall Street investment banks, and hedge...
- The Fed Policy: Punish Savers and Rob the Retired
February 23, 2004Before the Alan Greenspan model of economic growth which relies on creating rising asset prices in stocks, bonds and housing to fuel spending, our economy ran...
- Squeezing Americans Dry
October 6, 2005With rising inflation and debt payments, the household budgets of all of us are being squeezed. The picture does not look pretty. Let's first look at inflation...
- America's Tribute
April 4, 2005The Asians remain shocked and in disbelief. Just when Japan, China, Taiwan and Hong Kong had accumulated enough dollars to buy oil to keep them warm for many...
- The Currency War
January 18, 2004The U.S. is running a "silent currency war" against the rest of the world by not only trying to devalue the dollar until the economy begins to grow on a sustain...
- Inflation Disinformation
December 28, 2004Now that the Pentagon has won the domestic war over the United States' intelligence services, our blinders have been removed and we are allowed to see the real...
- Will Central Banks Ever Say No to America
January 26, 2005Americans suffering from an immediate gratification fix should really monitor their decisions when they are restless. When feeling restless, they may decide to...
- Government Gifts & Monty Hall Paradox
October 11, 2004Years ago there was a controversy with respect to a game show where the host offers you the opportunity to win what is behind one of three doors. Typically...
- When our Dollars Come Marching Home
December 2, 2004The financial and popular press has lately focused on the now obvious problems for the dollar created from our massive budget and trade deficits. Indeed, every...
- Joe Six Pack's Reality Check
July 8, 2004"Joe Six Pack" is the mythical character and legendary worker who fights in our wars, works in our factories, loves baseball in the summer and football in the...
- Money Created out of Thin Air
July 30, 2004We hope this brief essay stimulates your thoughts with respect to how money is created — a secret all investors should know. Money is created in two ways...
- Inflation: The Silent Tax
June 17, 2004With the Federal Reserve getting broad money growth, M3, back to around 11 percent a year, and the CPI heading to 3 or 4 percent, investors really need to start...
- Interest Rates Stay Real Easy
June 30, 2004The Fed is raising interest rates but continues an easy Monetary Policy. How can this be? How can the nominal level of interest rate for Fed Funds be raised...
- Pricing and Valuing Financial Assets
November 25, 2003Determining the price of financial assets is far easier than determining their value. However, knowing there is a difference between price and value and having...
- Borrow and Run from the Dollar
October 17, 2003Short term interest rates have dropped to a 45 year low at a time when tax revenues, as a percent of GDP, are at a 44 year low; budget deficits are exploding up...
- Risk is What you Don't See
September 26, 2003When it comes to taking risks on Wall Street, the old saying "now you see it, now you don't" still applies. This is why. If you must take risks, it would be...
- The Productivity Miracle and Other Myths and Fairy Tales
March 25, 2004Lately, so much has been made of the New Economy and the "miracle" of high productivity growth as a reason why inflation has remained so low. During this time...
- Oil, the Dollar, and U.S. Prosperity
August 8, 2003Like many Americans, I greatly enjoy air conditioning in the summer, heat in the winter, and gas for my sport utility vehicle. I also happen to enjoy traveling...
- Winning the War Against Savers
September 17, 2003There is a battle being fought to try and keep spending in the economy as high as possible. The Federal Reserve, under Greenspan, believes (for the long-term...
- Government Statistics: Lessons in Cooking and Spinning
June 11, 2003A government is no different in behavior than any corporation in its desire to show the best possible report. For a corporation, there is a bias in reporting...
- Driving in Reverse: The Fed's Economic Model
July 23, 2003The new market driven economy is based on managing expectations always upward and manipulating markets to keep asset prices up, and the appearance of wealth high
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