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On The “Sioux And The Buffalo”

My recent piece, “The New Wolves Of Wall Street,” struck a nerve. I think it taps into both advisers’ insecurities and investors’ worries about not getting what they pay for. Good. That’s what I was going for. Before I follow up on that piece, though, let me make a couple of things clear. First, there […]

Newsflash To Fed: 122 Billion Bottles Of Beer On The Wall Is A Mega-Bubble


While Janet Yellen and her band of money printers work themselves into a tizzy over whether two buzz words—-“considerable time”—– should be dropped from their post-meeting word cloud, they might be better advised to just read the newspapers. This morning’s WSJ brings word that the lending boom which our monetary central planners are eager to stimulate is…

(What’s Left of) Our Economy: New Fed Data Show as Goes Automotive, So Goes Manufacturing

The new Federal Reserve industrial production data confirm that U.S. manufacturing’s performance month to month is being dictated lately by a volatile automotive sector. The 0.40 percent August decrease in real manufacturing output was keyed by a 7.63 percent nosedive in combined auto and parts production. This biggest monthly decrease for the sector since May, 2009 followed an even greater 9.25 percent monthly gain in July.