Defensive Bubbles

Every day I read threads of friends from both sides of the aisle and profess the futility of trying to engage in meaningful political discourse and pledge to devote my time to better pursuits and projects. Efforts to puncture the blue bubbles or the red bubbles are...

What Did Not Cause the Financial Collapse

With the clarity of time we can look back at the brink of the collapse that hit us just prior to the last national election.  In the midst of the collapse we were stunned and angry, and tended to blame the party in power. Although the Democrats had controlled both...

Iron Bubbles

My first article published at American Thinker- The iron law of bubbles excerpts: But this same infatuation with talent can be attached to more than money; it can be attached to power.  With capitalism struggling to recover from yet another smackdown bubble we seem...

The Seeds of our Next Crisis

One of the most intriguing concepts of economics is the concept of “moral hazard.”  It is a corollary to a more obvious principle that everything has a cost. An understanding of it is critical for those whose world view is a never-ending series of crisis...

Can We Eliminate Bubbles?

Obama has posed this question and seems to think we can.  William Dudley the new president of the New York Federal Reserve thinks they can and should act to identify and prevent asset- price bubbles.  I remain very skeptical. The Federal Reserve was formed in1913 to...