Financial Markets

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Review of Gene Epstein, Econospinning

Financial MarketsFiscal Theory

Blog01/25/2008
Gene Epstein finds little fault with government's economic numbers and plenty of fault with the reporters and pundits who use those numbers.

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Mozilla: Meet Sarbanes-Oxley (and Henry Blodget)

Financial MarketsProduction Theory

Blog01/07/2008

The insufferable Henry Blodget, the disgraced securities analyst who is barred from working in the securities industry (he met up with Eliot Spitzer), is back to his usual chatter....

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Stockpiles and Speculators

Financial MarketsMoney and Banks

Blog01/07/2008

Although most commentators concede that the free market does a decent job providing regular goods and services day in and day out, for some reason they believe that when it comes to unlikely but catastrophic events, government intervention is necessary. An excellent example of this misguided...

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Credit Expansion and Submarginal Investments

Financial MarketsMoney and Banks

Blog01/03/2008

Markets are ruthlessly efficient, meaning in large part that people will not undertake investment projects with risk characteristics that are not aligned with savers' preferences. All profitable...

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The Future of the Commodity Price Boom

Booms and BustsFinancial Markets

Blog11/21/2007

As late as 1999, oil was trading at $10 per barrel and gold at $250 per ounce, down from their nominal peaks in 1980 of $39 and $850 respectively. And that's not even adjusted for the fact that the value of a dollar was a lot lower in 1999 than in 1980. Many pundits at the time argued that...

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SEC: The Great Overseer Fails in Oversight of Self

Financial MarketsInterventionism

Blog11/19/2007

Today it was announced that the Securities and Exchange Commission (SEC) had a material weakness in the internal controls over its financial reporting. The SEC avoided a big fat "E" last year via its...

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Fannie Mae: Fuzzy Math = Transparency

Financial Markets

Blog11/15/2007

Peter Eavis has an interesting piece on Fannie Mae and the way it changed how it discloses its bad loans. Fannie's loss ratio appears to be escalating while Fannie's...

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Warren Buffett: "There's never just one cockroach in the kitchen."

Financial Markets

Blog11/03/2007

Leland C. Brendsel is accused of presiding over accounting manipulations and running Freddie Mac in a reckless manner. Buffett, one of the most successful and revered investors, sold a huge stake in the mortgage funding company before the manipulations came to light, and the

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Warren Buffett Has An Austrian Economics Moment

Financial MarketsInterventionism

Blog10/27/2007

Remember that Citigroup, Bank of America Corp. and JPMorgan Chase & Co. have formed a superfund to bail out troubled structured investment vehicles (SIV). The US Treasury Department and Henry Paulson "back"...

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Sarbanes-Oxley: Helping to Nationalize Accounting & Auditing

Financial MarketsInterventionismMoney and Banking

Blog10/08/2007

Sarbanes-Oxley, of course, was just a small step along the yellow brick road that will lead to total rule over private industry, especially in the realm of accounting and audit. Talk is heating up regarding the new Treasury Advisory Committee on the Auditing Profession....

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