As more and more people become bullish on this market and the economy, I think it is a great time for a sanity check. Will the economic environment be a lot better or worse 12 months from now? Bulls will tell you that we put in a market bottom in November and that all the [...]

“Persecution is the first law of society because it is always easier to suppress criticism than to meet it” – Howard Mumford Jones
Over the past year, there has been an outcry from company executives and the investing public about short-selling. Short sellers have been blamed for reaping profits from the downfall of good companies with [...]

In 1933, Irving Fisher, possibly the first celebrity economist, published his paper titled “The Debt-Deflation Theory of Great Depressions. ” A thorough reading of which should be required by anyone who wants to talk intelligently about our current crisis. I believe that not only does it address the causes and effects of depressions but also [...]

After a tumultuous few weeks in the credit and equity markets, it seems that the US Treasury and Federal Reserve are finally on the right track. After some ridiculous jawboning about buying toxic mortgage securities above market prices, they have decided to use the Swedish playbook from the 1990s banking crisis in Scandinavia. This involves [...]