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The Fed’s zero interest rate policy, aka ‘ZIRP’, was devised to turn the 2008/09 downturn from a potential depression into merely the Great Recession, and as far as anyone can tell, it worked. However, ZIRP has continued far longer than … Continue reading
raise rates?? The Fed just announced that it will keep the fed funds rate at 0%. Reasons amount to low inflation, people not working who could which makes the employment picture worse than it seems if one looks at just … Continue reading
The media’s preoccupation with China’s slowing economy is the crucible for a stock market correction, but it’s not the whole answer. Until today, stocks’ decline was about in line with the 5% to 7% declines that happen every calendar year … Continue reading
In the last few years, we’ve seen certain municipalities in the US fail to pay their debts, Detroit being the largest. On August 3, Puerto Rico defaulted. Around the same time, Greece defaulted. This is the tip of the iceberg. … Continue reading
After the credit crisis of ’08/’09, Americans decided they didn’t like banks. Ever willing to oblige, politicians highjacked the populist uproar and created a behemoth of a regulatory morass, called Dodd Frank. If your community bank has closed its branch … Continue reading