Sorted Weekly Tweets
Central Banking Been using FRED since it was a bulletin board in 1991. Great job, FRED team! http://t.co/kksvwllM Mar 24, 2012 The Villain http://t.co/yYReRb4r On Bernanke, the man who expanded the power of the Fed far beyond constitutional limits, if there r any $$ Mar 24, 2012 Bernanke Sees Need for Higher Household Spending...
Sorted Weekly Tweets
Central Banking Norway Faces Housing Bubble as Krone Steals Policy Agenda http://t.co/15hzb0So By cheapening the currency Norway gets an asset bubble $$ Mar 17, 2012 Unintended Consequences http://t.co/eLrKtCJc Sprott suggests that the financial system has a chemical dependency on the Central Banks. $$ Mar 17, 2012 Is the bond market tightening for the Fed?...
Redacted Version of the March 2012 FOMC Statement
January 2012 March 2012 Comments Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global growth. Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. No real change, deletes comment...
The Best of the Aleph Blog, Part 14
This period of the Aleph Blog covers May through July of 2010. The one big series that I started in that era was “The Education of a Corporate Bond Manager” series. The idea was to describe how a neophyte was thrust into an unusual position and thrived, after some difficulties. The Education of a Corporate...
Sorted Weekly Tweets
Here’s the news of the past week: US Economy How the Government Lies About the Real Inflation Rate http://t.co/g6E4KxV5 I agree inf is understated, but by 1-2%, not 6-8%/yr $$ Mar 09, 2012 Tax Hunt Pushes Global Wealthy Into Offshore Trusts for Children in US http://t.co/l53hjFH1 Many clever ways 2cheat the taxman #thinkahead Mar...
Recent Sorted Tweets
Finance Business Breaking Ranks: Former Broker Turns Bomb Thrower http://t.co/q1vpz9dh @reformedbroker interview previews his book: http://t.co/Yigg2sEE $$ Feb 24, 2012 Why CLO managers continue to struggle http://t.co/a13j8jVG Low issuance, warehousing is tough, need more subordination, fewer senior buyers Feb 24, 2012 My Favorite Quote from Baupost’s 2011 Annual Letter http://t.co/VOvbqab3 DIstressed bond mgrs get...
Sorted Recent Tweets
Trying a new format here, I think readers will like it better. Most things are better after additional effort. Think of this as a news links by subject post. Economics If you look in the back, it seems that there were 58 respondents. From page 13: Methodology & Panel Selection Invi… http://t.co/p8sVZl9g Feb 06, 2012...
On Opaque Transparency
There are two things that I want to comment on Fed policy this evening: Transparency is overrated, and Bernanke does not understand savings. Transparency is Overrated Ever heard of the phrase “data overload?” Greenspan would do that verbally in his testimony to Congress, providing them with more data than they needed, and occasionally contradictory so...
Recent Tweets
@The_Analyst does Hempton do Twitter? Bright guy. Jan 26, 2012 RE: @SoberLook It’s not a pledge, indeed, but it is an estimate. The bond market has reacted quite strongly to the e… http://t.co/crpU3QpH Jan 26, 2012 RE: @SoberLook Does this post from Alea change your opinion at all? http://t.co/2hs1LTyN… http://t.co/p3Plmjnb Jan 26, 2012 MF Customers...
Redacted Version of the January 2012 FOMC Statement
December 2011 January 2012 Comments Information received since the Federal Open Market Committee met in November suggests that the economy has been expanding moderately, notwithstanding some apparent slowing in global growth. Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global...
Stock Prices versus Implied Inflation
Eddy Elfenbein wrote a good post recently on the stock market versus inflation expectations. When I read it, I said to myself, “Wait, is the relationship between nominal and real rates really 1:1, or is it more complex?” Though it is not certain, the regressions that I ran indicated that 1:1 was not falsified by...
Musing Over Glass-Stegall
This is one area where I would like feedback from my readers. My view is that the repeal of Glass-Stegall had little impact on the crisis. Most of the crisis occurred as a result of ordinary failures in investment banking, and commercial banking, with little change from combining them. I would argue that the overall...
