Archive for Blog

Something funny is happening with inflation… or isn’t happening: Despite more than two years of interest rates near zero percent and vast amounts of “liquidity” being pumped into the system, consumer prices are falling. On Wednesday the Labor Department reported an unexpected -0.1% drop in April, the first decline since March 2001. So-called “core inflation,” considered a better long-term indicator because it excludes volatile food and fuel costs, is also grinding lower. It increased... Read More→

Success or failure? Our federal gov’t has been subsidizing the residential mortgage business to the tune of hundreds of billions of dollars, possibly trillions depend on how you count it (that is, if you can count it).  One such program, Term Asset-Backed Securities Lending Facility (TALF).  This March 25, 2010 CNN report announced the end of this $100 billion program, and noted that it was extraordinarily successful.  The CBO estimates that the total cost to bail out mortgage originators... Read More→

Recently “crowned” Miss USA Rima Fakih from Michigan is embroiled in a mini-scandal, as pictures of her pole dancing at a Detroit “gentleman’s club” emerged shortly after winning the pageant. In this day and age, when pole dancing is offered at “fitness centers” for women (and certainly some men) to keep in shape, this story is hardly that surprising.  What is slightly more surprising is how mainstream journalism treats the subject.  Writing on MSNBC.com,... Read More→

Barack Obama has been President of the United States for 16 months.  The American people have learned a lot about President Obama and what he wants to do for America.  President Obama has learned nothing about the American people.  This is why on Thursday, April 15…tax day…thousands upon thousands of Americans took time out of their busy lives to send a sour note to the current administration in the White House.  These Americans were fed up with the elitism and arrogance being displayed... Read More→

Title: NYYRC 98th Annual Alumni DinnerLocation: Manhattan Penthouse: 80 Fifth AvenueDescription: NYYRC ANNUAL DINNER SAVE THE DATE JUNE 23rd 6:30pm-10:00pm Manhattan Penthouse Full Open Bar, 3 Course Dinner with amazing views of Manhattan. More Details to come and Amazing Guest Speakers to be announced soon! Early Bird Rate – Pay Now Member Dinner Ticket $125, Dinner & Photo Opp $150 Non Member Dinner Ticket $150, Dinner & Photo Opp $175 Start Time: 18:30Date: 2010-06-23End Time:... Read More→

I’m sitting here this morning, unable to do much work, stunned by the Euro bailout.  What we’ve done is invest in a state of perpetual financial crisis.  I think of it like this: 1) Greenspan/Bernanke drop our interest rates to 1% for something like 1 or 2 years 2) The real estate boom ensues, distorting industry globally 3) The mortgage industry defaults, destroying balance sheets and blowing up all derivatives 4) The Fed/Fed gov’t bail out the banks of America, creating a nearly... Read More→

There have been some enthused debates from conservatives about the liberal media coverage of the NYC Times Square bomber–his life, times, and the analysis of what lead him to attempt such a horrid thing. The media’s reporting of this I do not find atypical at all. It is a story…and a perfect opportunity to infuse art into reporting and journalism. A good story must tug at the emotions somehow. That is what ultimately sells. To expect the media to put aside artistic flavors and focus... Read More→

Bernanke recently reiterated what ages of research have apparently shown–that yes money does not necessarily lead to more happiness. Of course nothing in itself leads to happiness, it’s what you do with it that matters. And some people sadly just don’t know how to spend wisely.  Read More →

Dow down nearly 1,000 points earlier today. The Obama recovery is in full swing now… Hate that I was so right. See every other thing I’ve written, here. Wonder what Stimulus 3 will look like?  4? 5?  Read More →

Victor Davis Hanson dissects the Orwellian euphemism and dysphemism of our president in his NRO article today.  The first 3 paragraphs, for your enjoyment: Barack Obama once warned, “Don’t tell me words don’t matter!” He was right. They do. These days, financiers and investors are a “bunch” of “fat-cat bankers.” When your 401(k) tanks, surely a “bunch” of “fat-cat” miscreants who run a “bank” did it. I have a fat cat — and nothing is more unpleasant than to see... Read More→