You may remember back in 2007, the Federal Reserve changed the rules and allowed some banks to use a greater amount of money borrowed from the discount window to help their brokerage affiliates. In fact, this amount was 25 billion for Bank of Amerika. The Fed also began accepting more risky assets as collateral, with Bank of [...]

Welcome to the Keynesian Nightmare
British economist John Maynard Keynes was an advisor to the American government in the 1930s when it was struggling to restart the domestic economy. The Depression was tragic but, to put it in historical context, Keynes and his client were dealing with a cyclical problem that, by the 1930’s, had already [...]

The Employment Situation is the most eagerly awaited news on the economy. Because the news is very timely, only one week after the month covered, and because of the amount of data about the job market and household, this report has great economic and political significance. “No single economic indicator can jolt the stock and [...]