Investor CAFÉ Newsletters
Making History: The Feds Adopt My Macro Model with New ‘GDP Plus’ Statistic
“Gross Output provides an important new perspective on the economy; and one that is closer to the way many businesses see themselves.” — Steve Landefeld, director, Bureau of Economic Analysis, U.S. Department of Commerce I’m getting great response to my Forbes.com article announcing a new supply-side “Austrian” macro statistic, Gross Output (GO), that the federal […]
Getting Free Food is a SNAP
“Enter into his gates with thanksgiving, and into his courts with praise: be thankful unto him, and bless his name.” – “The Thanksgiving Psalm,” Psalm 100:4 Today is Thanksgiving, a great American tradition started by the Pilgrims and officially established by Abraham Lincoln as a national holiday. It’s one of my favorite holidays — a […]
J. P. Morgan Becomes the Whipping Boy of Washington
“You can’t pick cherries with your back to the tree.” — J. P. Morgan I’ve always been a big fan of J. P. Morgan, the country’s largest investment bank, since it was established by the grand old man. When visitors come to New York, I often take them down to 23 Wall Street and point […]
ObamaCare is a Big Success! Report from New Orleans Conference
“ObamaCare is not a ‘trainwreck,’ it is a suicide attack. He wants to hurt us, to bring us to our knees, to capitulate, so we agree under duress to accept big government.” –Wayne Allyn Root, http://www.foxnews.com/opinion/2013/10/21/why-obamacare-is-fantastic-success/ I just returned from the famous New Orleans Investment Conference, where gold bugs meet every year to vent their […]
Wall Street: The Best Friend of Entrepreneurs and Investors
This week’s cover story of the New Yorker is “Can Wall Street be Fixed?” Yesterday, I was in downtown Kansas City to give a lecture at the historic Kansas City Public Library (actually at an old bank building). I tried to defend Wall Street and made the case that the stock market is the entrepreneur’s […]
My Meeting with Top Government Economic Officials
A couple of weeks ago, I announced the good news that the U.S. Commerce Department’s Bureau of Economic Analysis (BEA), the government agency that compiles and publishes GDP every quarter, will be publishing a new economic statistic every quarter along with Gross Domestic Product (GDP). It’s called Gross Output (GO). I wrote an article on […]
Did Janet Yellen Really Warn Us about the Housing Bubble?
The media recently has lauded Janet Yellen, Obama’s choice to become the next Fed chairman, for her prescient warnings in the mid-2000s that the housing bubble could cause a financial crisis. For example, Alan Blinder wrote in the Wall Street Journal, Janet Yellen “warned, as early as 2005, that the titanic real-estate market was heading for an […]
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Should Insider Trading Be Legal?
“If companies would tell us more, insider trading would be worth less.” — James Surowiecki, New Yorker magazine In a stinging rebuke for the U.S. government, a Texas jury acquitted billionaire Mark Cuban of insider trading. The Securities and Exchange Commission (SEC) accused him of using a private tip to avoid a big loss on his 2004 […]
Is Capitalism All about Dog-Eat-Dog Competition?
“Markets are a vast cooperative enterprise in which buyers and sellers work together to set prices and allocate resources. Transactions occur without coercion and, in fact, occur only with cooperation.” — Jason Voss, CFA, director, CFA Institute Yesterday, I played “Ten Tennis” with my grandson Luke (age 9). I invented this new version of tennis called “Ten Tennis” […]
Replacing Keynes: A New “General” Model of the Economy
“How can I possibly put a new idea into your heads, if I do not first remove your delusions?” — Robert Heinlein Keynesian economics has created much mischief in the world — a bias toward inflation and easy money, chronic deficit spending, an anti-saving mentality, progressive taxation, big government and the welfare state. Market-friendly economists […]
