Are Airlines Toast?
Like a lot of people, I used to enjoy flying. Packing up, going to the airport, standing in line, and jetting off to exotic places like Chicago was a welcome break in my otherwise non-adventurous life. No more. Now I view airline travel as an occasional necessary evil. New security measures resulting...
Totally Obscene UMM DMM Expense Ratio
In the ETF world, which MacroShares strives to be a part of, low expense ratios are expected. Those in excess of 1% typically receive harsh criticism. Most sponsors recognize this fact and work tirelessly to reduce fees and cap expenses for their shareholders. MacroShares took a different route,...
SEC Tries To Get Efficient
Under criticism for letting Bernie Madoff’s scheme drag on for years, the Securities & Exchange Commission is trying to improve itself and rebuild its image. This is an excellent idea, and good timing too, given that the people who ignored Madoff for so long have now moved on to bigger and...
Deflation Means No COLA for Seniors
Sorry, senior citizens: there will be no cost-of-living adjustment in your Social Security payments this year. You are victims of deflation. Today the Labor Department reported that the Consumer Price Index rose 0.2% in September and fell -1.3% in the last twelve months. This was no great surprise,...
Bankrupt Deadbeat Banks Stiff Taxpayers
Only a few weeks ago, We The People seemed to be turning a profit on the U.S. Treasury’s investment in banks via the Troubled Asset Relief Program, or TARP. Not so fast. Yes, a few banks repaid the government with interest. As I noted at the time, their main motivation was probably to escape...
Banks Want Another Hidden Bailout
The New York Times reports that unnamed “senior regulators” are considering a plan to have healthy banks pay to bail out the sick ones. I suspect this is a trial balloon – leaked to selected reporters so the administration can gauge reaction before actually doing anything. Read the...
Fed Fights For Its Secrets
A judge has ordered the Federal Reserve Board to give up at least some of its secrets. In deciding a complaint filed by Bloomberg News last November, U.S. District Judge Loretta Preska told the Fed it must release details about its various crisis-liquidity programs no later than August 31. When the...
Why So Angry About Health Care?
Maybe you, dear reader, can help me. I am trying to figure out why people are so upset about the proposed health care reforms. I see the angry mobs on TV shouting and screaming at congresspeople, Senators and cabinet members. Obviously there is a lot of passion about this issue. The primary claims...
Ron Paul: Why The Fed Must Be Audited
The history of the American banking system is a fascinating subject. Filled with intrigue, late-night Congressional approvals, and Presidential populism, our country’s official banks are not without scandal. Before the Federal Reserve Act of 1913, there were two other successful attempts to monopolize...
Market Maker – Home Edition
Do you ever dream about being a market maker? You know, one of those “savvy” traders making a few pennies from other people’s trades and keeping the markets liquid. I bet you thought only the big dogs could do that. Not anymore. Now it’s possible for everyone to be a market...
