Monthly Archives: January 2016

Do Not Say You Were Not Warned – Again

  “What The Fed did, and I was part of it, was front-loaded an enormous market rally in order to create a wealth effect… and an uncomfortable digestive period is likely now.”  – Former Dallas Federal Reserve Governor Richard Fisher … Continue reading

Posted in Uncategorized | Leave a comment

Payoff Pitch

Update – Time to Extract Value from CEF Investment Recommendation On July 20, 2015 we wrote a strategic article entitled “Finding Value in the Ninth Inning of the Great Bond Rally” which made the case for an investment in closed … Continue reading

Posted in Uncategorized | Leave a comment

Self-Defeating Monetary Policy – Addendum

In “Self-Defeating Monetary Policy” we focused our discussion on U.S. productivity, but weak and slowing productivity growth is not just an American problem. All of the world’s leading economies are, to varying degrees, exhibiting the same worrisome pattern. The graph … Continue reading

Posted in Uncategorized | Leave a comment

Self-Defeating Monetary Policy

“It’s self-defeating to use the wrong monetary policy.”  -Ben Bernanke What is productivity? The Federal Reserve’s flawed growth benchmark Excessive monetary policy is crushing productivity The prescription for sustainable, durable growth – productivity   “Because it is unclear exactly why … Continue reading

Posted in Uncategorized | Leave a comment