Archives for: obama

24

Currency Wars Have Begun: Central Banks in Denial or Worse

by Mitch Feierstein about 1 year 10 months ago

Here’s a piece of recent news that you almost certainly missed: A large consumer products company, Johnson & Johnson, announced a one-off loss owing to a 32 percent currency devaluation in Venezuela. The reason I expect you missed that less-than-seismic piece of news is that, unless you happen to be particularly fascinated in Johnson & [...]

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Last week I wrote a piece about Congress: its failure to take responsibility for problems, the way its un-shining example has a tendency to corrupt all our other national institutions. The post garnered a remarkable number of comments, the majority of which agreed strongly with the view I expressed. Just one thing disturbed me, however, which [...]

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This Time It’s Different: Why It’s Time to Fire Bernanke

by Mitch Feierstein about 2 years 7 months ago

Two bits of news in the last couple days. One, Ben Bernanke, Chairman of the Federal Reserve, has decided to extend Operation Twist, a policy whereby the Fed sells short-dated government paper in order to buy the longer-dated sort. It sounds boring but it involves $267 billion, so it’s kind of consequential all the same. [...]

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Election 2012: Rhetoric, Confusion and Spin

by Mitch Feierstein about 2 years 10 months ago

The Obama campaign has launched a new film. It’s beautifully shot. (No wonder: Davis Guggenheim was the director.) It’s beautifully narrated. (No wonder: Tom Hanks is behind the mike.) It’s got a beautiful story arc. Lighting’s great. Hey, I’m no judge of these things, but whoever they got to do hair and make-up probably did a great job [...]

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The Faux Bull Market in Equities

by Mitch Feierstein about 2 years 10 months ago

It might not feel that way to you, but we’ve just lived through one of the greatest bull markets in history. Almost exactly three years ago, the S&P 500 stood at 683, a decline of more than half from its highs of 2007. It wasn’t hard to understand that decline. Wall Street was bust. General [...]

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Gasoline Prices Soar, Spin Without End

by Mitch Feierstein about 2 years 10 months ago

Last month, gasoline prices hit their highest ever level for February — an eye-watering $4.69 per gallon in Manhattan. Predictably, since this is an election year, politicians vie to cast the blame onto others. Barack Obama is most obviously in the firing line: he’s been president for three years. Why the heck hasn’t he fixed [...]

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