“Bob and I had no idea of any of the potential back then.” Those are the words of cable television visionary John Malone in his recently released memoir, Born To Be Wired. Malone was writing about Tele-Communications Inc. (TCI) “hanging coaxial cable across the country” in the early 1970s to provide rural areas with better […]
Is Artificial Intelligence the Latest Internet Mania? Let’s Hope! Read More »
The deepest markets in the world continue to tell us that paying off the $37 trillion national debt will be the easy part, but budget experts are arguably missing the message. Think the Cato Institute’s Adam Michel. He writes for the Civitas Institute that “Deficits matter tremendously. Persistently large annual shortfalls fuel debt accumulation, raise borrowing
The Markets Keep Telling Us the National Debt Is the Easy Part Read More »
Markets are information. They’re constantly pricing the knowns and unknowns, with “markets” a perfectly apt descriptor since no one agrees about the knowns and unknowns… Continue reading on Forbes.
Do “the Markets” Really Want Federal Reserve to Lower Rates? Read More »
The $37 trillion national debt will not be paid for by America’s middle class. How we know this is the $37 trillion in debt itself, along with the accepted truth that soon enough $37 trillion will be $50 trillion, and up and up and up. The national debt is poised to soar to $50
Basic Market Logic Tells Us the Middle Class Won’t Pay Off the National Debt Read More »
The Fed can’t increase so-called “money supply.” If what you just read weren’t true, rest assured a never independent Fed would have all manner of programs to place so-called “money supply” in the poorest parts of the U.S. It would vanish in seconds. Money is ruthless, and it only circulates where there’s production. Commentary
The Markets Will Speak Regardless of the Fed’s So-Called “Independence” Read More »
What keeps the CEOs of financial institutions awake at night? One or two errant employees out of tens of thousands can bring down the franchise. What robs financial institution heads of sleep explains the superfluity of governmental punishment for errors inside financial institutions. Think what happened to Wells Fargo in 2018. What the federal
Let the Market Punish Corporate Mistakes, Not the Federal Government Read More »
“This is clearly a shift in budget accounting that will clear the path to ballooning the debt now, but will also create a precedent that will be used over and over and over again in the future.” Those are the words of Maya MacGuineas, president of the Committee for a Responsible Federal Budget. MacGuineas
Markets Will Tell Us When We’ve Borrowed Too Much Read More »
France’s best-known stock index, the CAC 40, is up 18 percent over the last twenty-five years. The S&P 500 is up 24 percent over the last two months. These numbers rate comment. For one, they vivify the stupidity of so-called “trade deficits” in the U.S. There’s no such thing, nor is there such thing as insufficient savings
France’s CAC 40: Nail In the ‘Fed-As-Market-Opium’ Narrative Read More »
Everyone’s got an answer for why Treasury yields have jumped recently. Yet no one knows why. Crucially, they don’t know why precisely because they think they have an answer for the movements of the most information-pregnant income streams in the world. Please read on. Let’s start with the obvious: all known information is already
If They Know Why Treasury Yields Are Rising, Then They Don’t Read More »
“Rising yields on the back of the U.S. credit downgrade is indicative of what will occur if Washington does not curb its appetite for unsustainable spending and low taxes.” Those are the words of RSM’s Joe Brusuelas. That he’s chief economist for RSM is excess, and can be seen in his analysis of the national debt.
What Market Signals Can Teach the National Debt Alarmists Read More »
