Does Stock Market Euphoria Mean A Better Economy? Americans Aren’t Buying It

Bloomberg reports, “U.S. Stocks Rise for Week as Data Bolster Growth Optimism.” U.S. stocks rose for a second straight week, with benchmark indexes reaching all-time highs, as data from durable goods to housing and employment fueled optimism that the world’s largest economy is strengthening. Alcoa Inc. and Freeport-McMoRan Copper & Gold Inc. advanced at least 5.1 percent, pacing gains among commodity producers. Homebuilders rallied 5.5 percent as a group after sales of new homes topped Read more […]

Is The Federal Reserve Looking At Monetizing Student Loan Debt?

From the Main Street website: Rising student loan debt is a probable risk that might slow down a strong economic recovery, New York Federal Reserve Bank President William Dudley said Wednesday. “It’s a prospective risk that we need to analyze further,” Dudley told reporters at a press conference at the New York Fed. “The fact is that the student loan burden is climbing pretty sharply, and the fact is that it cannot be discharged.” Real wages have been sluggish to rise, increasing the burden of Read more […]

Former Fed Reserve Official Apologizes For Quantitative Easing

This is great confirmation for what real economists have been saying about the Federal Reserve for some time, and especially about Ben Bernanke’s strategy. Andrew Huszar writes: I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I’ve come to recognize the Read more […]