Smackdown: Fleckenstein vs Yardeni
Interesting smackdown between Bill Fleckenstein and Ed "Y2K" Yardeni:" "Even if the Fed can’t strip the...
After Final Discount Rate Hike
Todd Buchholz was on CNBC this morning. I have recommended his book "New Ideas from Dead Economists" in the past. He may be a...
Fed Halt Now Baked into the Cake
Yesterday’s moonshot was a marvelous thing to behold. The market took off on soft PPI and housing data, lit the second stage...
Fed Minutes
The Minutes of the FOMC meeting of March 27-28, 2006 were just released. The money quotes show up towards the end (about 4th to...
One Last Comment on M3
We started beating the M3 drum back in November 2005. It seemed to us — on the basis of the rapid increase in M3 versus M2 alone...
Mortgages, Foreclosures & the Fed
The WSJ discusses one of the nasty side effects on Mortgages and Real Estate of rising rates and slowing real estate: Delinquencies and...
Do We Have Inflation?
Barron’s jumps on the "We Have Inflation" bandwagon this week, with two editorials acknowledging what Big Picture readers...
Will the US Economy Decelerate Rapidly as Boomers Retire?
> Bloomberg reports that a "Revolutionary" Federal Reserve study is "shaking economists’ forecasts by suggesting...
Chart of the Week: Yield Curve, 2002 versus 2006
In 2002, the Yield Curve was extremely steep, with short term rates at half century lows. This was extremely stimulative to economic...
Did the Yield Curve Send a “False Alarm?”
"So much for the inverted yield curve." >Or so says a recent Bloomberg column. If I read this correctly, any inversion that...