Month: September 2015

Federal Reserve to Please No One

In the Washington area, we live in a fairy land.  The credit crisis spawned a massive increase in government expenditure.  A good portion of these expenditures become “revenues” coursing through the Washington suburbs. Our housing market is ebullient because a couple of staffers at the FDIC, or choose your agency, making the average salary of…

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Correction or Flash Crash?

In the past several days in US equity markets, the tension thickened and suddenly the air was sucked out.  A panic or perhaps a flash crash gripped the market last Monday, which itself followed two days of selling at the end of the previous week.  It was the first serious test of the averages since…

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