Monthly Archives: March 2016

The Presidential election is entertaining, but not that interesting.  Hillary will win absent force majeure.   The more interesting contest is for the Senate.  Especially as the math works so whoever wins control in this election likely holds the Senate for a long … Continue reading →

The long-promised exploration of monetary velocity!  Starting with a quick shot of “Animal Spirits.”  And no, that does not mean some bearded hipster’s liquor distilled from dead squirrels and other roadkill.  But we desperately need a swig of the stuff… “Animal Spirits” have been THE … Continue reading →

Obama probably isn’t looking back at the last 8 years with much joy.  But he can look forward with a big smile and a happy heart.   He has delivered the change he promised.  And all he had to really “do” was simply exist. … Continue reading →

The world’s central bankers are scaring the crap out of me.  Why?  They are being terribly terribly polite in a situation that calls for a little shouting.  Every indicator on the global cockpit is flashing “fiscal stimulus.”  It is right next to the one flashing “FREE … Continue reading →

People love to rail about the evils of shareholder capitalism.  Very few stop to consider the real source of that evil.  It is rarely the shareholder side of the equation.  It is almost invariably management. The formal name for this … Continue reading →