Big Banks

There are thousands of banks in the U.S., but only a few “big banks.” These big banks are of such size and market share penetration that they have a dominant position in the markets in which they are active. Big banks tend to cover the entire nation, including an international presence. They also provide services in all areas of the financial industry, whereas a small bank might only cover a certain subset of services.

How Markets Will Handle End of Money Printing Era

By Wednesday, November 5, 2014

Markets Will Handle End of Money Printing EraIt’s finally over…

The quantitative easing programs initially started by the Federal Reserve six years ago are (for now) history.

In its statement on October 29, the Federal Reserve said, “Accordingly, the Committee decided to conclude its asset purchase program this month.” (Source: “FOMC Statement,” Federal Res… Read More

The Flight Back Down to Reality Ahead for the Rich

By Friday, September 26, 2014

Stock Market Bubble Starting to Show Signs of StressSix years ago this month, in the midst of the Great Recession, Lehman Brothers, one of the most well-known investment banks in the U.S. economy, filed for bankruptcy.

At the time, Lehman’s bankruptcy sparked widespread worries…and the U.S. financial system teetered on the verge of collapse. For those of us who remember that tim… Read More

About That $38-Million Ferrari…

By Wednesday, September 10, 2014

The Other Side of the Ferrari StoryA 1962 Ferrari 250 GTO Berlinetta has set a new record selling for $38.1 million at an auction in Pebble Beach, California. News of the sale was all over the Internet and made it into major newspapers like The New York Times, The Wall Street Journal, and the Los Angeles Times.

But it’s not just old, rare cars that are selling. The high-en… Read More

Having Trouble Coming Up With Four Hundred Bucks

By Friday, August 15, 2014

Economic Growth in 2014The burning question that’s facing economists like me today and that will only be answered in the future: did creating $3.0 trillion in new money out of thin air really make things better or worse for America?

My personal view, as expressed in these pages, is that the rich (the big banks and Wall Street) got richer from the “printing … Read More

Dead-Cat Bounce Over for the Housing Market?

By Wednesday, April 23, 2014

Momentum Housing Market Shows Clear Signs EasingI have been saying this for a while: You can’t have a housing recovery unless actual home buyers are involved.

We are very far away from seeing the housing market reach its 2005 highs…and as time passes, it becomes clearer that this generation may never see them again.

How can I say that?

What we have seen in the housing market since th… Read More