If you wondered why the biggest financial firms are fighting tooth and nail to avoid having to maintain a “fiduciary standard,” just look at the fees and expenses in deals like this. There is always big money in the ongoing attempts to turn lead into gold.
Category: Economics
Subprime Auto Nation
It’s amazing how many cars you can sell when you aren’t worried about getting paid. This is the beauty of a fiat currency, a printing press, and a taxpayer available to pick up the tab after the drunken party gets out of hand.
Markets Applaud Draghi’s New, Improved Kick The Can Down The Road Strategy
The eurozone mess is the classic illustration of a saying attributed to Herbert Stein, “Economists are very good at saying that something cannot go on forever, but not so good at saying when it will stop.”
Why Investors Should Avoid Hedge-Funds
Reading a book, it’s often very hard to judge just how reliable the author is, or how cherry-picked the data might be. But if a high-profile hedge-fund industry association spends months putting forward a point-by-point rebuttal, and that rebuttal is utterly underwhelming, then at that point you have to believe that the book has pretty much got things right.
Why Germany Should Lead Or Leave
Europe’s tragedy is not the result of an evil plot, but stems, rather, from a lack of coherent policies. As in ancient Greek tragedies, misconceptions and a sheer lack of understanding have had unintended but fateful consequences.
Abnormal Capitalist 