Reuters reports that President Bush is about to announce Ben Bernanke, chairman of the White House Council of Economic Advisors as Alan Greenspan’s replacement.
His resume doesn’t look quite like Harriet Miers’, and Brad DeLong, Berkeley economist who worked for Clinton, likes the appointment. Read More
“People inside were literally dying,” ABC News correspondent Chris Bury told The Observer over the phone.
He was talking about the New Orleans Convention Center, where he spent the day on Friday, Sept. 2, and from which he filed an impassioned report on the evacuees from the sinking city who had sought refuge there Read More
On Oct. 31, Daily News hockey columnist Sherry Ross got to write a hockey column of sorts. Former Islanders and Rangers center Pat LaFontaine, Ms. Ross recounted, was training himself to become a triathlete. “The hardest part for me is going from the bike to running,” Mr. LaFontaine told her. “For the first few miles Read More
In political circles, small as they are, the argument of late has been over whether or not 2004 is a déjà-vu -all-over-again of 1972. As political writers repeat past the point of tedium, Presidential campaigns are decided by the voters’ sense of economic well-being. Liberal or reactionary, they’ll vote for the incumbent if they’re feeling Read More
Pardon me if I don’t understand this, Mr. and Ms. Economist: You are correcting against the possibility of deflation-that is, a general and continuous drop in prices-by cutting prices? If that’s your story, stick to it, but please explain the rationale for this last cut in the price of money more cogently than you have Read More
One of the bubbles that has yet to be broken is the esteem in which Americans hold our Federal Reserve chairman, Alan Greenspan. “His mumbles about the mysteries of finance have brought comfort to many,” writes Grant’s Interest Rate Observer. As Grant’s notes, at the height of the bull market, 50 percent of Americans had Read More
Guns or butter. Butter or guns. If you take both, you’ll run out of funds. For generations, the economic textbooks taught that a country had to choose between fighting well or living well. Yet for the last 100 years, the United States didn’t make that choice. Quite the contrary: The butter came along with the Read More
Another Bush in the White House, another flagging stock market, another stumbling economy. And, if the mutterings and whispers from Washington, D.C., are to be believed, the West Wing crowd is engaged in another round of Greenspan grumbling.
NewsMax.com, an obscure far-right Web site (board members include Alexander Haig and Arnaud deBorchgrave), reported on Aug. Read More
It’s the new economy, stupid. Not the “New Economy” that
stock touts use to sucker the rubes with, but another new economy-one that’s
less obvious and less automatic when it comes to the making of millionaires.
A conjunction of old- and new-economy elements has aligned
itself in a pattern not seen before. We’re into Read More
There is a place where smart bears gather. There is a place
where conservative investors with literature degrees, CNBC-hating index wonks,
articulate doomsday types and students of financial arcana get together to
commiserate and, these days, to lick their chops. It is called the Grant’s Interest Rate Observer Spring
Investment Conference-”Grant’s Conference” for short-and it Read More