Get real Larry Summers

Yesterday Larry Summers, Director of the White House National Economic Council, said that China would be the “central American challenge going forward” with regard to the future of the U.S. economy.  Get real! First of all, the central challenge of any...

The qualitative Federal Reserve

Recall that the Federal Reserve announced a “quantitative easing” strategy earlier this month.  The idea was to inject $600 billion into the U.S. economy by buying outstanding bonds.  That, in turn, was supposed to create greater liquidity in the economy...

Wrap up of the G-20 summit

Today was the final day of the G-20 summit meeting in Seoul, South Korea.  The G-20 is the organization that gathers the world’s 20 largest economies together to discuss global economic issues.  Overwhelmingly, nothing of any substance ever gets done. ...

Putting the electric in General Electric

Hello and good morning! General Electric this morning announced that it is going to buy 25,000 electric vehicles for its fleet by 2015.  Because General Electric provides much of the componentry and services much of the value chain of the electric car markets it is...

Don’t anthropomorphize markets

For today’s post I wanted to decry a financial markets press tactic that is as old as the markets themselves.  Namely, the media love to anthropomorphize markets, especially the stock market.  In other words, this is the tendency of reporters to ascribe human...