What Would Jesus Do with Bankers?

Anthony Freda/Daniel Zollinger   What Would Jesus – Or the Rabbis of Old – Do? Preface:  If you are an atheist and believe that religion is crazy, please remember that some 85% of the American population identifies itself as Christian and millions more identify themselves as Jewish.  Very few Americans are atheists … and the […]

PIMCO in Theory and Practice, Part II

Things are weird when you write the second part of an article five years later.  I don’t have a strong opinion on some of the arguments between Felix Salmon and “Dutch_Book,” or maybe I have too many opinions, and they conflict. But I wanted to offer some data on PIMCO that I have gathered, as […]

Living in a Macro World

We are increasingly living in a macro world.  What I mean by that is that the world is becoming a smaller and smaller place due to technological change and the increasingly interconnectedness of globalization.  The result is that the macro occurrences in other parts of the world influence the domestic economy like never before.  And […]

Still Learning from Milton Friedman

We can still learn much from Milton Friedman, who was born 100 years ago today. Here I focus on his role in the macroeconomic debates of the 1960s and 1970s, because they are so similar to the debates raging again today.Friedman, Samuelson, and Rules Versus DiscretionFirst, go back to the early 1960s. The Keynesian school was coming to Washington led…

Quotation of the Day: Sports Socialism

“The Olympics are a giant exercise in sports socialism—or crony capitalism, if you prefer—where the profits are privatized and the costs socialized. The games never pay for themselves because they are designed not to. That’s because the International Olympic Committee (an opaque “nongovernmental” bureaucracy made up of fat cats from various…

JPM To Be Subpoenaed Over Defunct PFG’s Missing Segregated Money

The blunt trauma that JPMorgan was implicated in the missing millions from segregated accounts in Jon Corzine’s bankrupt MF Global may have passed but the memory lingers, especially for all those whose cash is still locked up somewhere in vapor space. Yet one event that may tear the scab that patiently was healing, courtesy of a Copperfield market fu…

America’s Energy Jackpot: Industrial Natural Gas Prices Fall to the Lowest Level in Recent History

The Department of Energy released its monthly update today on natural gas production and prices through May, and the chart above displays inflation-adjusted natural gas prices for commercial and industrial users.  By end user in May, industrial customers represented about 32% of natural gas consumption and electric power companies used almost ha…

Why Another Major China Stimulus Package Is Not Coming

When might the government roll out another stimulus? Have local governments already announced major stimulus? Will the economy grow at a much slower pace than targeted by the government if no new stimulus is adopted soon? Could the country/industries/companies survive without another stimulus? These are some of the recent more frequently asked questi…