Quote of the Day: Liquidity Trap
Is the Fed out of bullets? I wonder: "When an asset like real estate becomes overvalued, even if you drop interest rates...
FOMC Speech
I simply cannot muster the interest to listen to or read this testimony. Can’t even feign it. Would someone please do me a favor...
Housing and Monetary Policy
Interesting academic work on Housing Prices, Monetary Policy, and Subprime issues from Stanford’s John B. Taylor. ...
Real Retail Sales Growth Fall to 2003 Levels
Yesterday, we noted that the market "wanted" to rally, courtesy of its oversold condition. Dropping nearly 5% in the previous...
Sovereign Wealth Funds
Open Thread: No Free Lunch?
In today’s WSJ, Art Laffer critiques the stimulus package: "In this world of ours, those resources going to the rebate...
Me Media: Prediction Markets in the NYT
(With apologies to Paul for stealing the headline) Last month, we took a look at Why Prediction Markets Fail, reviewing some of the more...
Builders: No Soup for You! Come Back One Year!
What is funnier than this, I cannot imagine. My sides ache from reading it. (Dear Lord, please make it stop!) To wit: "The lobbying...
Retail Sales Show Inflation, Not Growth
If you ever doubt the significance of the market’s relative overbought/sold condition to news, the past two days have been quite...