The root of the current financial crisis was an artificially induced boom in the real economy, and asset-price markets that subsequently turned to bust. The bust led to a reduction in the values of many assets owned by banks.
Thus, the banking sector found itself crippled by insolvency problems, consequently causing liquidity problems. The readjustment of [...]
Senate Letter on Bernanke Nomination
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It appears gold mania is spreading, and if this press release by the US Mint is any indication, it has hit the broad population. As a result, the administration is taking prompt “corrective” steps:
The United States Mint will not offer the following products in 2009: the one-ounce American Eagle Silver Proof Coin; the one-ounce American [...]
Exceptional clear view of the market, great job by Andy Dufresne
It looks like 1080 on the S&P is an intermediate-term high, with the potential to become a major multi-month—dare I say year—high. Sell the pigs that flew the highest in this rally now.
To sell the rally you must have tried to buy it first—the other [...]
Too bad that our last Fed Chairman was a dissembling, blithering idiot, a standing joke in his private practice, who could not find the optimal monetary policy with both hands. But he was a masterful politician and bureacrat, surrounded by fellow sycophants, and did know how to serve the banking interests and make himself look [...]