Hard to Take a Bone from a Dog

Most people, provided they have a minimum of experience, know that taking a bone from a dog is a risky proposition. In terms of political power, few dogs are bigger than the American voting public. Taking away, or even threatening to take away, the major entitlements...

The Extinction of Retirement

For the better part of a century the foundations for a semi-comfortable retirement for many Americans have rested on the financial pillars of rising real estate and equity prices, positive real interest rates on savings, the continued solvency of public and private...

Fed Benefits from Global Fears

This week, in the second in a series of less-than-impressive press conferences, Fed Chairman Ben Bernanke offered market observers little hope that any additional quantitative easing programs are on the horizon. The Chairman continues to cling to the position that the...

Central Bankruptcy: Why QE3 is Inevitable

As the U.S. economy seemingly limps out of the Great Recession most analysts now assume that the Federal Reserve will soon join the tide of other central banks and bring an end to the current era of unprecedented monetary expansion. Markets expect that Fed will begin...

Undercounting the joblessness

The U.S. job growth in May – or, more accurately, the lack of job growth – indicates that the economic “recovery” is coming undone. With 13.9 million people in the U.S. out of work according to the federal government’s unemployment...

The Fallacy of "Selfish"

Human beings are capable of many contradictions. One of the most stunning of these contradictions involves use of the concept “selfishness.” Think about it. Many people are ready to call you “selfish.” It’s the greatest, most intimidating...

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