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Bonds Got It Way Wrong, Economy Is Accelerating

First published at Seekingalpha.com http://seekingalpha.com/instablog/27843163-robertbarone/2967823-bonds-got-it-way-wrong-economy-is-accelerating In the financial marketplace, the bond market usually signals first and reflects the magnitude of a changing economic environment. The equity market, on the other hand, is often late, or at least later than the bond market in recognizing oncoming changes in economic conditions. So, the worries now rampant on Wall Street and reflected in a pessimistic media over equity valuations are understandable given that …Read More

Awash in Liquidity, Part 2: The Long-Term Consequences of Falling Interest Rates

First published at Minyanville.com http://www.minyanville.com/business-news/the-economy/articles/Awash-in-Liquidity-Part-2-The/5/28/2014/id/55108 There are going to be unintended effects that we can’t yet discern, but there are some issues that we already know about. In the first installment of this two-part series (Awash in Liquidity, Part I: Why Interest Rates Are Falling), I discussed how the world has come to be knee-deep in liquidity.  As a consequence, interest rates, as seen through US 10-year Treasury yields, have …Read More

Existing Public Policy Fosters a Growing Income Gap

There is no doubt that the gap between the rich and the middle class and poor has widened in recent years. And the most recent studies confirm a continuation of that trend with capital gains playing a major role. What is ironic is that public policies — some long practiced, some new, — contribute significantly to the problem. Recognizing and fixing such policy issues, however, is easier said than done. …Read More