Financial Markets

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Clinton talks return on investment

Financial MarketsCapital and Interest Theory


"If you add up all the benefits, it's really astonishing," the New York senator and former first lady said, citing one study that says for every dollar invested in pre-kindergarten, there is at least a seven fold return. -- Hillary Clinton as...

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The sham of "socially responsible investing"

Financial MarketsCapital and Interest TheoryMoney and Banking


The sham of socially responsible investing (SRI) is exposed in a recent New York Times column by Joe Nocera. This incisive article concludes that SRI "oversimplifies the world, and in so doing distorts reality....

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Foreigners and Those Vast US Dollar Holdings

Financial MarketsMoney and BanksCapital and Interest TheoryMoney and Banking


A correspondent on the LRC blog refers to the

"....ominous growth in dollar denominated debt instruments held by foreign central banks and foreign investors ...the impact...when foreigners...

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Michael Oxley Knew Sarbanes-Oxley "could spell trouble"

Financial MarketsInterventionism


Bob Greifeld, the President and CEO of Nasdaq, was once a great critic of Sarbanes-Oxley (SOX), citing the anti-competitive drag that SOX helped to foist upon his industry. How charming it is, then, to see that Nasdaq has recently brought Michael Oxley - one of the co-founders of SOX - on board...

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China to Move Ahead with Forex Plan

Financial Markets


I have been covering the emerging trend of central banks "investing" their accumulated forex reserves in equity markets. In the last few weeks it has become clear that this idea appears to have moved from a proposal to a reality. This story is getting relatively little coverage in the...

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Buy when there's ice in the streets

Financial Markets


The department of some firms will do anything for a buck:

"JPMorgan and Innovest Strategic Value Advisors launched today the JPMorgan Environmental Index-Carbon Beta (JENI-Carbon Beta), the first bond...

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How dare they know more than others!

Financial MarketsLegal System


It's one thing for a firm to guard its own secrets, and enforce those rules with internal sanctions. But government regulations on insider trading is criminalizing knowledge as such, insofar as it is not in a press release, an notion which wars against the very idea of entrepreneurship....

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Stock scare

Financial MarketsMoney and Banks


Ah, nothing focuses the mind that a good ol' fashioned stock market sell-off. Nothing is more likely to cause people to decide that Bush is a really bad president, or inspire pessimism about the future. One might think that a war in Iraq and US equity valuations have politically nothing to...

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Robert Samuelsson Finally Gets It

Financial Markets


In a previous post I discussed how Robert Samuelsson absurdly tried to attribute the tech stock and housing bubbles to lack of inflation rather than existence of inflation.


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China to "Invest" Reserves

Financial MarketsGlobal Economy


An Asia Times piece by Zhou Jiangong earlier this week describes a complicated plan by the Chinese Ministry of Finance to in essence reallocate a portion of its portfolio of US Treasuries and agency debt into other asset...

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