Last Tuesday evening, while dining with family and business associates, I had one eye on the elections and the other on the Dow Jones Futures Index, a proxy for the Dow Jones Industrials (DJIA) in the non-trading hours. At one point, the futures were down 900 points, and I was drooling over the prospect of one of those quite rare buying opportunities produced by extreme market fear, irrationality and emotional distress. …Read More
The Topsy-Turvy Economy
The financial markets are hooked on easy money, low interest rates, and growth via debt issuance. Yet, it has become obvious to some market players, economists, and maybe even the Federal Reserve’s Federal Open Market Committee (the rate setting cabal), that current monetary policy is now hurting, not helping, the economy. Of course, monetary historians know that monetary policy was never meant to act alone, or in a vacuum, as …Read More
