This is going to be a review of David Stockman’s 768-page tome The Great Deformation, and
although I never thought it was possible, it makes me angry to write this book review.
I’m not angry because I don’t like the book. On the contrary, this is the best economics book I’ve ever read. Indeed, it may be the best and most influential book I’ve ever read in my life. I only wish I had read it the moment it was published in April 2013. I only finished reading it today, and for the entire time I’ve been plowing through it, I’ve been trying to think of what I would say in this review.
Why am I angry, then, to write this? Bluntly stated, because nothing I can say will make what I want a reality. And what I want is for every literate person in the United States to read this book, cover to cover. I want them to read it. I want them to understand it. I want them to agitate for the changes that it recommends. (more…)
Whether it’s politics or business one thing remains the same: if you are designated or perceived as the leader, everything you say or do is viewed with an eye searching for obvious and hidden meanings. While at the same time the higher the level or more commanding the position, that search goes from the naked eye to one looking via an electron microscope.
Words matter, the way they are said can matter even more, yet what is just as important is the posture, and yes – that can include even your choice of attire. (more…)
The Idiot Savant thought he should pitch in while our marvelous magnanimous multitasking maestro was mindlessly meandering the old world, tirelessly touring terrific timeless towns, torridly tasting tempting tavern table treats. Moreover, since TK’s currently globe trotting across Europe rubbing elbows with professional thieves, I thought it apropos to concentrate my questionable craft on a cunning confidential continental institution situated in Switzerland. Namely; the Bank for International Settlements, otherwise known as the BIS. The above luminous photo is of their luxurious Headquarters.
Ten times a year, once a month except in August and October, a small group of well dressed men arrives in Basel, Switzerland. Carrying elegant overnight bags and stylish brief cases, they discreetly check into the Euler Hotel, across from the railroad station. They come to this quiet city from places as disparate as Tokyo, Paris, Brasilia, London, and Washington, D.C., for the regular meeting of the most exclusive, secretive, and powerful supranational club in the world.
Good old Chuck, too much is apparently not nearly enough. Chuck wants ZIRP-infinity stating that Ms. Yellen should “be careful” about raising interest rates.
Here’s what Sen. Charles Schumer wants to tell Janet Yellen on Tuesday
He ostensibly thinks that a lack of job growth is the “overwhelming problem” facing the economy. I think Chuck’s straw man is starting to come apart at the seams as the hay that stuffs it pops out in an embarrassing display. (more…)
Just to be clear in this day and age when every move is scrutinized, and every intention is analyzed as to expose ulterior motives. I feel it is my duty as a citizen to put any rumors (there aren’t but hey I’m being proactive) circulating to rest for the benefit of my readers. To Wit: (Ah hem…) (more…)
Suddenly the world is a buzz with the revelations that High Frequency Trading (HFT) may be doing more than actually harming the markets, it might be destroying the illusion they still are markets.
This past Sunday the world at large was introduced that maybe, just maybe, something was amiss in the financial markets. However, anyone with more than a passing interest in business, finance, and a little common sense could feel in their gut that something just wasn’t copacetic.
Between the Federal Reserves massive QE experiment amplified by the arms race of algorithmic technologies (aka HFT) to shave off a piece of that pie for themselves has been nothing more than breathtaking. (more…)