There is an old saying that sometimes it is better to keep your mouth shut and let people think you unintelligent than to open your mouth and remove all doubt. President Bush’s assertion Monday that “Our financial institutions are strong…
History shows wide-ranging reasons for recessions
Leo Tolstoy famously wrote, ‘Happy families are all alike; every unhappy family is unhappy in its own way.’ Applying this line from Anna Karenina to economic booms and busts may be a stretch. Not all periods of prosperity are alike.…
Politics always a factor in defense industry
The best irony is unintended. I was reminded of that this week, after reading a well-argued op-ed piece in the Financial Times by Richard Shelby. The Alabama senator makes a good case that purchasing an Airbus tanker for the Air…
Is Fed throwing good T-bills after bad mortgage debt?
On occasion, when you want to do something that you are not permitted to do, you can circumvent the ban by getting a stand-in to act for you. For example, a bunch of high school sophomores may want to drink…