Barry Ritholtz, editor of The Big Picture blog and two-time Agora Financial Investment Symposium speaker, describes to Forbes how the failed recovery is like economic purgatory… and is at least devoid of new hiring among other problems. With interest rates essentially at zero the Federal Reserve has “painted themselves into a corner” and are well on the way to “making cash trash.”
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Barry Ritholtz: We’re in Economic Purgatory
Barry Ritholtz, editor of The Big Picture blog and two-time Agora Financial Investment Symposium speaker, describes to Forbes how the failed recovery is like economic purgatory… and is at least devoid of new hiring among other problems. With interest rates essentially at zero the Federal Reserve has “painted themselves into a corner” and are well on the way to “making cash trash.”
[Read more...]Lobbyists Now Offering Obscene Return on Investment
Our friend Barry Ritholtz over at The Big Picture recently came across a Time article that sheds a little light on how lobbyists so effectively spin straw into gold for companies with deep pockets.
As he puts it, the subtitle for the piece tells you everything you need to get the idea,“Why Lobbying Is Washington's Best Bargain; Lobbyists say for just a few million, they can make clients billions.�
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: auto dealers, Banking, Barry Ritholtz, congress, CRP, derivatives trading banks, DR EXTRA!, Featured, Legislation, lobbyists, Markets, Rocky Vega, The Big Picture
Darkening Storm Clouds on the US Civility Horizon
Today, a new post on our friend Barry Ritholtz’s blog looks at Jack Cafferty’s new CNN Question of the Hour: What are the chances the US economy could eventually trigger violence in our country?
A few choice quotations help explain the perspective:
- “A new CNN poll suggests 48 percent of Americans think the country is headed for another Great Depression in the next 12 months.”
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