The US Federal Reserve along with other central banks is making it easier – i.e. cheaper – for European banks to borrow US dollars. In other words we're giving the banks a gift of the half percent discount in interest rates the fed is financing. The action is cloaked in the usual rhetoric abo More...
Reader Bobsv57 asks:
"Tom, a question for you. I am under the impression that most, if not all, of the money used to bail out banks has been paid back with interest and it is actually the money used to bail out GM that hasn't been returned. Am I correct in this observation? More...
Since we bailed out the investment banks, we've done almost everything possible to assure that we have another banking crisis and another bailout opportunity.
This Labor Day America stands on the brink of an industrial revival. During the next decade millions of Americans will be re-employed in manufacturing. Tens of millions more will be newly employed in jobs supporting manufacturing and serving the needs of manufacturing employees. The financial sec More...
"It's time to go big or be sent home," says Andy Kessler writing in The Wall Street Journal. He continues with six big ideas, none of wh More...
"BRUSSELS—Support is building among senior European finance officials for a plan to press Greece's private-sector creditors into accepting a debt exchange that would result in delayed repayment to them, people familiar with the matter say.
"But that agg More...
This post is my response to a brilliant commentary by Bill Schubart, most but not all of which I agree with. You can read his original at The Free Market: An Enduring Myth (Guest More...
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