2013

The seemingly never-ending debate on passive vs. active investment management is beginning to annoy me. The discussion is one-dimensional and, at times, completely derailed. I shall be the first to admit that the long-only industry has not…

In the first paragraph of my book A Demon of Our Own Design (Wiley, 2007) I observe that “You don't deliberately obliterate hundreds of billions of dollars of investor money. And that is at the heart of this book – it is going to happen…

I mentioned Fed Vice Chair Janet Yellen's speech in the last post. I tend to like the way she phrases things because her statements are the clearest of all of the major FOMC policy makers. This speech is in that vein. If I could summarize…

The Bank of Japan is now considering whether to move to balance sheet expansion in its bid to lift the Japanese economy out of deflation. Japanese policy, which will then further tighten the nexus between fiscal and monetary policy, is now…

A key issue that will be addressed this week is how will the ECB respond to the electoral outcome of Italy.

UMKC Economics head Stephanie Kelton was on Chris Hayes' show to talk about US fiscal politics along with three other guests. They discuss the political gridlock in the US and what it means for the economy.

In mid-January I had said I expected a recession in Q2 as a result of austerity and a government shutdown in the US. Recently, however, I have moved away from that position as a baseline, largely because of the rebound in housing and the…

News links for 4 March 2013

News links for 3 March 2013

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