Wall Street bulls applauded the release of the GDP report yesterday, as the numbers pointed to a reviving economy and a brighter future, despite all the recent turmoil and housing glut. The US economy expanded at an annual rate of 4% in the second quarter, the fastest pace in more than a year.
Exports surged [...]
James Grant has always been one of my favorite economic commentators. He always finds a way to inject a little humor as well as some razor sharp analysis. This editorial appeared in the NYT today. Here’s a sample:
Benjamin Graham and David L. Dodd, in the 1940 edition of their seminal volume “Security Analysis,” held that [...]
Richard Posner, a judge on the Seventh Circuit Court of Appeals, has a post at his blog with Gary Becker on why the Fed shouldn’t bail out those who took on too much risk in the housing boom:
Studies in cognitive and social psychology have identified deep causes for the overoptimism, wishful thinking, herd behavior, short [...]
The family is headed to historic Venetian Pool today.
I’ve never actually been swimning there, but I’ve been for some charity events. Thanks to our friend Cha Cha for coming up with the idea.
