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Finance & Markets Channel: Latest Posts
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Great Leap Forward
Essential Viewing: Stephanie Kelton on Chris Hayes
From Hullaballoo: Heresy on Up With Chris by digby Up with Chris Hayes was just excellent this morning and I’m excerpting pieces of it below. I would encourage you to watch the whole thing, but the following segments that discuss the sequester and the budget wars are nearly heretical in their rejection of the normal [...]
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Finance & Markets
Great Graphic: Cross Border Capital Flows
This Great Graphic comes from one of the best reports on the global capital markets. For the last several years McKinsey&Company publishes an annual report on it and released this year’s earlier this week. Here is the link. It is a must-read and it is free. The question it poses this year is whether financial globalization is retreating [...]
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Finance & Markets
Environmental Issues that Could De-Rail the Natural Gas Boom
There are two key environmental issues that have the most likelihood of slowing the natural gas boom or, perhaps, redirecting its trajectory: fracking chemicals and fracking water usage. Fracking chemicals: what the frack? Inflamed by dramatic scenes like tap water catching on fire, worries over the effect of fracking on the quality of groundwater have [...]
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Finance & Markets
Quelle Surprise! Having No Idea What Really Happened in Foreclosure Reviews, OCC Parrots ‘Independent’ Consultant Howlers
I was prepared to give the benefit of the doubt to incoming Comptroller of the Currency Thomas Curry. He did get rid of longstanding bank crony, the OCC chief counsel Julie Williams, and in an unceremonious manner meant to send a message to the rest of the organization. He’s supposedly trying to change the culture, [...]
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Finance & Markets
The Market In a Minute
Market breadth turned decidedly negative during last week’s shortened trading week, as the equal-weight S&P ETF (RSP) lost 1.1% compared to a loss of 0.64% for the S&P 500. As corporate earnings season comes to an end, revenue surprises have started to slow, while bottom-line earnings continue to be relatively strong. The trade An overabundance [...]
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Great Leap Forward
The Economic Crisis: Causes, Consequences, and What’s Next
I’ll be joining Frank Partnoy and Robert Brenner at a conference at UCLA tomorrow afternoon. I gave a preview in an interview on KPFK’s Beneath the Surface with Suzi Weissman; you can listen to it here: http://archive.kpfk.org/index.php. It is the Friday Feb 22 show. Details of the conference are contained on this flyer: Partnoy Wray Brenner flyer 1 [...]
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Finance & Markets
Is This Time Different? … No!
There is a growing view that investment returns in financial markets are increasingly driven by central bank policy action rather than fundamentals (such as the macroeconomic outlook, business cycles and corporate earnings) prompting questions to be raised about the very nature of free market investing. We have already seen the impact of government policy play [...]
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Finance & Markets
200-Day Versus 10-Month Moving Averages
Tuesday evening’s reads led with a link to Mark Hulbert’s How to know when it’s time to leave the party. Hulbert created a backtest that compared being “fully invested in the Dow whenever it was above its 200-day moving average, and otherwise completely out of the market.” That above or below signal in theory keeps you out of trouble. I [...]
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Finance & Markets
The (Really) High Price Of Active Management
It’s no secret that indexing is considerably less expensive than active management. It’s also well established that indexing’s lower price tag often provides a considerable performance advantage when measured over time. As it turns out, the drag from higher active fees is far larger than generally known. A recent article by consultant/strategist Charlie Ellis (author of the [...]
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Great Leap Forward
How To Teach Money: Presentation at UNAM
As I previously announced, a 2 day conference begins today at UNAM in Mexico City: http://www.economonitor.com/lrwray/2013/01/30/upcoming-conference-at-unam-in-mexico-city/ I’m giving 3 talks. I thought those interested in MMT might want to view the presentation slides. Here you go:
