Business Week – Peter Coy: It’s Official: Federal Reserve Phraseology Is Devoid of Meaning Federal Reserve policymakers reaffirmed today that they intend to keep short-term interest rates near zero for a “considerable time” after asset purchases end, which sounds like a forthright and important statement. Except that Fed Chair Janet Yellen, speaking to reporters, refused… Continue reading More On The Fed
Zero Hedge – “Stocks Are More Crash-Prone Than Ever,” Fleckenstein Slams “Fed’s Idiot Policies” Infamous short-seller Bill Fleckenstein left a CNBC anchor questioning her faith in the status quo in this brief interview. As she pestered him with questions about ‘missing out on the rally’, Fleckenstein snapped back “so what? I don’t care, it doesn’t… Continue reading Bill Fleckenstein Speaks
<Click on chart for larger image> The Wall Street Journal – U.S. Household Wealth Hits Fresh Record Americans’ wealth hit the highest level ever in the second quarter amid a rise in stock and home prices, prompting consumers to ramp up their borrowing—a development that could boost the economic recovery. The net worth of U.S.… Continue reading The New High In Net Worth
Reuters – Japan government cuts economic view, warns of stalling consumption Japan’s government cut its overall economic assessment for the first time in five months as private consumption is struggling to recover from the slump caused by April’s sales tax hike, clouding the outlook for a sustained recovery. The government on Friday cut its view… Continue reading Abenomics, The Next Stage
The Economist – Can’t pay, won’t pay Hiring hedge funds was never going to make pension deficits disappear HAVE the whizz kids of finance lost their va-va-voom? For decades, hedge funds have been portrayed as the smart money, with the power to frighten chief executives and destabilise governments; rich individuals and powerful institutions competed to… Continue reading Hedge Funds
The Wall Street Journal – This Man’s Job: Make Bill Gates Richer Secretive Money Manager Michael Larson Helped Microsoft Co-Founder’s Fortune Balloon to $82 Billion Invitations to a dinner party from Bill and Melinda Gates at their mansion near Seattle in February included an unusual request: Wear pink or platinum. Spotlights installed for the occasion… Continue reading Who Is This Guy?
The Wall Street Journal – Scotland Rejects Independence in Vote Scottish First Minister Alex Salmond Says He Accepts Majority of Voters Don’t Want U.K. Split Voters in Scotland have chosen to stay in the U.K. by a convincing margin, a major relief for a British government prompted to make big concessions to hold together the… Continue reading Scotland Says No
St. Louis Federal Reserve – Review: Making Sense of Dissents: A History Of FOMC Dissents This article presents a record of dissents on Federal Open Market Committee (FOMC) monetary policy votes from the Committee’s inception in its modern form in 1936 through 2013. Dissents were rare during the Committee’s first 20 years but began to… Continue reading Fed Governors No Longer Dissent
The Wall Street Journal – ECB Balks at Sovereign-Bond Purchases European Central Bank Wants to Reverse the Shrinking of Its Balance Sheet, but It Still Isn’t Buying Government Bonds The European Central Bank gave markets what they wanted on Thursday—or at least, it gave a very good impression of doing so. Eurozone stocks and bonds… Continue reading The ECB Buys Bonds
The Wall Street Journal – Robots Work Their Way Into Small Factories For as Little $20,000, Machines Handle the Tedious—With No Lunch Breaks; ‘Fred, Hand Me That Wrench’ A new breed of so-called collaborative machines—designed to work alongside people in close settings—is changing the way some of America’s smaller manufacturers do their jobs. The machines,… Continue reading Your New Employee?
DealB%K (NYT Blog) – Fantex Signs Chicago Bears’ Alshon Jeffery for an I.P.O. Alshon Jeffery, a 24-year-old wide receiver for the Chicago Bears, had an inauspicious start to his football season this month when he injured his hamstring in a loss to the Buffalo Bills. But he is now headed to Wall Street with the… Continue reading How To Buy A Football Player
None Today