Posts by: Robert Murphy

A moment of silence, please, for our fallen comrade, the Dow Jones Industrial Average… Yes, it’s true; the beleaguered index fell through 10,000 yesterday to finish the trading session below where it stood last November. But yesterday was not the first time the Dow ever fell below 10,000. In fact, it was the 28th time since…Read more…

Trichet to Greece: Drop Dead! Obama to California: Uh… Yesterday, stocks lost 103 points on the Dow. This looked like a confirmation to us. The stock market appears to have begun its next and final phase… AP seemed to think so too: “Stock investors see threats from all directions,” said the headline. We didn’t bother to read the article. We…Read more…

Trillions of dollars have been spent on US stimulus, and like all activities — the good, the bad, and the extremely dubious — it must eventually, necessarily come to an end. This is true if for no other reason than it’s simply too expensive to support. Heck, even the Brits have ended their version of…Read more…