The term “fiscal cliff” means different things at different times in different economic environments. The single definitional consequence upon which there is universal agreement, however, is that it’s a bad thing to fall off that cliff … or even to skate too closely to its...
The obverse of “Rational Exuberance” is “Irrational Exuberance,” a phrase popularized in December 1996 by then-Federal Reserve Chairman Alan Greenspan when he warned investors that unjustified internet optimism had crept into stock market valuations. As a consequence, he warned, soaring valuation assumptions based on rosy...
The First Amendment of the U.S. Constitution precludes the government from abridging Americans’ right to speak freely. By guaranteeing a broadly protected – and uniquely American – freedom of speech, the Constitution provides an essential base upon which America’s democratic society has thrived through the...
I first fell in love with TINA in 2009. It was early Spring and I’d been hurt, pretty badly, in 2008. That had followed the break-up of a serious relationship with Value that had topped out in October 2007. My personal affair with TINA began...
You may have read about Cassandra – the young (and, I should add, quite beautiful) priestess who the Greek god Apollo granted the power to accurately prophesize the future …, and then cursed so that her prophesies would not be believed. TLR spoke with her...
