From Janet Yellen's first Congressional testimony as the new Chairman of the Federal Reserve: "The fundamental reason we have low interest rates is because there is a glut of savings relative to the demand for those savings." Really? Would you like to test that...
I read Jordan Belfort's book the first week that it came out five or so years ago. I knew immediately that the talk of it turning into a movie would happen, for the book itself read like it was written to be put on...
The Rational Optimist is a rare find for those who love markets, love history, and love reading. Few books you will ever read combine the historical depth that this gem of a find from Matt Ridley has, and yet also challenge your thinking in...
The first thing I will say is that I am not one of those "the Fed is the devil" type of people. There are legitimate criticisms of the Federal Reserve out there, and there are irrational ones. I am critical of present monetary...
Five years ago today Wall Street lost one of its staple investment banks to bankruptcy, and Main Street woke up to the reality of the financial crisis. The American economy had been in a financial crisis for at least a year, but it was...
George Gilder is one of the most important minds in the United States of America, and he has been for 30+ years. His Wealth and Poverty is one of the very few HAVE-TO-READ books in the history of free market economics. ...
A month or so back I read Thomas McCraw's very informative work, The Founders and Finance. The book essentially paints a picture of the early developments in American finance, particularly as directed by three immigrants (Robert Morris, Alexander Hamilton, and Albert Gallatin). Because...
This piece does a great basic run-down of how things really work for the wealthy, and how Mickelson essentially keeps 26 cents of every dollar he earns going forward (if he is lucky). Ultimately, many don't care what guys like Phil experience from a...
My tax rates are going up in 2013 no matter what. They always were going to. Investment rates are going up to some degree; that also was never in doubt (though the extent of the increase remains unknown). Any substantive addressing of...
The awful 1%. Those richy-rich millionaires and billionaires who do not pay their fair share of taxes. The top 1% of people in our society earn 18% of all national earnings. But they pay 37% of all national taxes. Let's move...
