The Daily Pfennig Recent Articles

The Fed Does The Old Texas Two-Step…

Chuck Butler

The Fed leaves rates unchanged... the dollar gets sold on the Fed news... SNB stays steady, the Norges Bank cuts rates... while Russia and China drop their Treasury holdings and more in today's Daily Pfennig...

3 Weeks of Collateral Left For Greece

Chuck Butler

More Weak Data in the U.S. pushes dollar down... But the optimists are looking for better data this week... U. of Michigan Cons. Conf. points to weaker dollar... Russia cancels auction, but can't stop ruble rally... and more!

Maestro6 Major Flaws in the Fed’s Economic Model

James Rickards

Use what analogy you will: a car, a clock, a chemistry experiment... the point remains that the Fed believes it can control the economy. Indeed the Fed will stop at nothing to realize the goals of its dual mandate" to maximize job growth and maintain price stability. But, as Jim Rickards expalins, that conceit always ends in disaster. Read on...

Job Crisis Joins the Inflation Debate

Chris Mayer

The government's official unemployment figures for December 2013 suggest the lowest U.S. unemployment rate since October 2008. Of course, as is often the case, these numbers don't tell the full story. Chris Mayer takes a look at what the numbers really mean and how they relate to the inflation-deflation debate. Read more...

A Corrupt System that Rewards Stupidity

Marc Faber

When political leaders or economic policymakers are seen to fail, the worst that will happen to them is that they won’t be re-elected or reappointed. Dr. Marc Faber explains why this is such a stupid way of making decisions...

Calling an End to the Correction

Greg Guenthner

Anyone who was caught in the summer selling vortex is breathing easier this morning. Futures are holding steady. The S&P even squeaked back above 1,600 before yesterday’s close. So that’s it, right? Correction’s over. Shut down the computer and go back to the beach.