I would not vote to confirm Yellen. Here Cato’s Mark Calabria lays out Yellen’s sorry historical record. Yellen has done little to make anyone believe she is ready to challenge that institution in any serious way. When asked about her time at the San Francisco Fed, a district which covers not just California but also Nevada […]
Investing
The Pigs in Washington
“Over the last century, government’s fiscal machinery has been mostly gas pedal, little brake. In 1913, the 16th Amendment gave Washington open-ended power to tax income and borrow against it, with no offsetting restraint on spending or debt,” writes, David Malpass in The Wall Street Journal. The bond buying operation by the Fed is simply creating […]
It’s Yellen. Now What?
Here The Wall Street Journal points out Janet Yellen’s weakness on inflation, something I’ve been talking about for a while. And in 1995 she said during a debate on inflation targeting that “when the goals conflict and it comes to calling for tough trade-offs, to me, a wise and humane policy is occasionally to let […]
Scrap the Income (Dividend) Tax
100 Years ago this month, President Woodrow Wilson signed the 16th Amendment and the income tax was born. Now we have an army of IRS agents enforcing 73,954 pages of federal tax rules. Liberals love taxes to penalize the evil rich. As Chris Edwards from Cato points out, “The key problem is that liberals have […]
5,000 Jokers
You deserve the peace of mind and comfort that a trustworthy investment advisor brings to you. Unfortunately the investment business is loaded with scammers and crooks. Even when brokers are expelled from a firm they can somehow find work in the same industry. That was the case with Kenneth Dwyer who lost more than $85 […]
U.S.A. #1 Energy Producer
You instinctively know that U.S. energy independence is a good thing for the country. The Wall Street Journal reports, “The U.S. is overtaking Russia as the world’s largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations.” Yet the Obama administration has railed […]
The Energy Evolution
The “Estimated Energy Costs per Million BTUs” chart from Young Research & Publishing gives you a quick comparison of oil, natural gas, coal, and uranium. As you can see, natural gas offers good value compared to oil. Good ideas will find their way in the marketplace at the right price and tend to evolve over […]
Special: Two for the Price of Three!
Janet Yellen is the leading candidate to replace Federal Reserve Chairman Ben Bernanke. Some are saying she will be tough on inflation but I’m not buying it. In a 1995 debate on the Fed’s role in controlling unemployment and inflation she said, “When the goals conflict and it comes to calling for tough trade-offs, to […]
Weekend at Bernanke’s
Clearly Fed Chief Ben Bernanke has checked out and has started dreaming about retirement with yesterday’s Weekend at Bernie’s performance. Was Janet Yellen propping him up? And since when did the Chairman of the Federal Reserve become the President of the United States? His comments sounded like talking points sent directly from the White House. […]
How Vanguard Wellesley Won the War
You want to keep this chart on your refrigerator because there’s been a lot of talk in the press lately about 2008. Looking back five years later is always easier than living through it. What the press fails to explain is the emotional and financial toll 2008 leveled on so many retirees. There’s a breaking […]