Going Long
A Preview of the Fed Under Trump
A Preview of the Fed Under Trump
John Taylor, a former Treasury official in the Bush administration, is a top candidate to replace Fed chair Janet Yellen.
January 3, 2017
Investors, Don't Fear Higher Rates
Investors, Don't Fear Higher Rates
Although interest
rates will rise
modestly in coming
months, that
should not derail
the bull market.
November 1, 2016
Why Investors Shouldn't Be Afraid of Inflation
Why Investors Shouldn't Be Afraid of Inflation
An inflation rate of 2% to 3% is good for stocks because it gives companies the power to raise prices, which helps boost profits.
July 21, 2016
A Positive Outlook for U.S. Interest Rates
A Positive Outlook for U.S. Interest Rates
Instead of the threat of deflation from weak growth and falling prices, the U.S. is facing the opposite: accelerating inflation.
May 4, 2016
Can the Fed Save the Stock Market?
Can the Fed Save the Stock Market?
In retrospect, it was ill-timed for the Federal Reserve to start hiking short-term interest rates. But that can easily be fixed.
March 4, 2016
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Bernanke's Ultimate Legacy
Bernanke's Ultimate Legacy
The former Fed chairman's decisions in 2008 were an act of courage that averted an economic collapse far worse than we experienced.
December 31, 2015
Worries About China’s Economy Are Overblown
Worries About China’s Economy Are Overblown
Among the consequences of China's slowdown: lower commodity prices, which actually benefit the U.S.
November 2, 2015
Surviving the Greek Financial Crisis
Surviving the Greek Financial Crisis
Despite the recent friction, I believe the eurozone is stronger after putting down the Greek rebellion.
September 4, 2015
Bursting the Talk of a Stock-Market Bubble
Bursting the Talk of a Stock-Market Bubble
There's good reason to believe that analysts' forecasts of a 12% increase in earnings next year are on the mark.
July 7, 2015
Is Productivity Plunging?
Is Productivity Plunging?
New ways of producing goods and services may be causing the bean counters to underestimate productivity.
May 5, 2015
Why European Stocks Are Worth a Second Look
Why European Stocks Are Worth a Second Look
Best bets for investors will be those companies with strong sales outside the Euro zone.
March 9, 2015
Dow 20,000? Why Not?
Dow 20,000? Why Not?
Stock prices are reasonable relative to earnings and the returns from alternatives are meager. So, there's your upside potential.
January 5, 2015
The Fed's Rate Forecast Is Too High
The Fed's Rate Forecast Is Too High
Powerful economic forces, such as sharply lower growth in the labor force, are pushing interest rates down.
November 3, 2014
All the Things Thomas Pikkety Got Wrong
All the Things Thomas Pikkety Got Wrong
The author of Capital in the Twenty-First Century has a flawed view of capitalism.
August 29, 2014
The Conversion of Bill Gross
The Conversion of Bill Gross
It's good to see a long-term stock market bear concede that stocks are not overpriced.
June 30, 2014
Low Rates Are Here to Stay
Low Rates Are Here to Stay
The smart money sees powerful economic forces, which transcend the power of the Fed, pushing interest rates downward.
May 2, 2014
Is the Bull Market Over?
Is the Bull Market Over?
With today's low interest rates, it makes sense that price-earnings ratios should be higher than average.
February 28, 2014
Is the Market Rational?
Is the Market Rational?
Nobel laureate Robert Shiller showed that fluctuations in the stock market were consistent with fads and euphoria.
December 30, 2013
How the Fed Blew It
How the Fed Blew It
In the future, the Fed will have a much tougher job convincing the markets that it means what it says.
November 5, 2013
What Keeps Me Awake Now
What Keeps Me Awake Now
I still believe we will emerge from the slow growth in productivity. Nevertheless, it's crimping corporate profits.
August 30, 2013
Bernanke Got It Right
Bernanke Got It Right
Without the Fed's actions, Americans would be facing the same kind of deflation we suffered in the Great Depression.
July 1, 2013
Profits Are Powering Stocks
Profits Are Powering Stocks
The economy is nowhere near a cyclical peak, so earnings and stock prices still have room to rise.
May 6, 2013
Time to Tackle Social Security, Medicare
Time to Tackle Social Security, Medicare
30 years ago, a bipartisan commission (yes!) helped fix these entitlement programs. Let's try it again.
March 5, 2013
What to Do About Tax Reform
What to Do About Tax Reform
You can't keep marginal rates low if you allow deductions for such items as mortgage interest.
January 29, 2013
The Case for Dow 17,000
The Case for Dow 17,000
If we can avoid heading over the fiscal cliff, stocks will continue their strong rally.
November 2, 2012
Fiscal Cliffhanger for Investors
Fiscal Cliffhanger for Investors
If all of the tax hikes and spending cuts take effect, stock prices could fall 10% to 20% by year-end.
August 31, 2012