Economy

The U.S. Deficit and National Debt

The U.S. Deficit and National Debt

President Joe Biden enters the presidency inheriting an enormous deficit, a central bank with an unprecedented balance sheet size, and an economy reeling from the pandemic. His first proposal was a $1.9 trillion COVID-19 relief package. If implemented, much of it will...

Money Creation in the Time of Quantitative Easing (Q.E.)

Money Creation in the Time of Quantitative Easing (Q.E.)

2021 is here. Along with football, resolutions, and family gatherings (maybe), there might come a discussion, hopefully outside and six feet apart, about how the U.S. is going to hell in a handbasket. 2020 Recap and 2021 Outlook for Stocks and Bonds One family member...

Are We in Another Economic Bubble?

Are We in Another Economic Bubble?

Economic bubbles: are we in another one? How can the stock market almost triple in value during a period of mediocre growth (2009–2019)? In the movie All The President’s Men, a source of the reporter, Bob Woodward, nicknamed ‘Deep Throat,’ informs him that he needs to...

Public Employee Pensions

Public Employee Pensions

Back in the day before private employers dismantled their pensions and replaced them with 401(k)s, if someone told you that they had a pension, you would not know whether they worked for the public or private sector. Today, however, if someone says, ‘I have a...

Bitcoin the Future of Money or a Novelty?

Bitcoin the Future of Money or a Novelty?

​One bitcoin today is worth roughly $31,000, which demonstrates how out-of-whack this cycle’s pet rock, tulip craze, or dot-com stock (pick your financial bubble) has gotten. Proponents hail bitcoin as the world’s first virtual currency, forgetting or unaware that 97%...

I’m Positive Negative Interest Rates Won’t Work

I’m Positive Negative Interest Rates Won’t Work

With the coronavirus causing havoc on the world’s economies, there is much talk in the financial press about ‘negative interest’ rates—which adds yet another oxymoron to a list that includes ‘Great Depression,’ ‘jumbo shrimp,’ and ‘open secret.’ U.S. Federal Reserve...

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