As long as the Wall Street triumphalists’ unreflected “why worry?” thinking remains the norm, the urgently needed pursuit of a U.S. economic reform agenda will go nowhere.
The day when Fed Chairman Jerome Powell rode in to rescue financial markets to prevent their complete freezing up could have entered our history books as another global mega-crash.
It used to be said that beggars can’t be choosers. That obviously no longer applies in the United States of today. Corporations set the terms of their bailouts.
The U.S. addiction to stock price inflation is rooted in an illusion. It is promoted by Donald Trump, Wall Street, the Fed and mainstream economists.
U.S. stock prices have exhibited a pattern of behavior as erratic as that of the U.S. commander in chief.
Why financial markets in 2019 may offer positive surprises, despite — and actually because of — the current wave of pessimism.
While Trump says it’s all the Fed’s fault, this is why U.S. stock markets are really collapsing.
The Fed’s current interest rate increases are to tamp down the possibly very dangerous effects of fiscal recklessness during a time of a booming U.S. economy.
Financial engineering has paid much better dividends for corporations than actual engineering. For the health especially of the U.S. economy, this needs to be reversed.