The End of Economics?

By | 2013-02-14T11:12:07+00:00 February 14th, 2013|Global Market Update|

Did economists “get it all wrong” during the Great Recession? Certainly a lot of economists have made a lot of mistakes. Ben Bernanke, former Professor of Economics at Princeton, thought the problems in the sub-prime mortgage market were limited and contained in March of 2007. Greg Mankiw, Professor at Harvard, predicted that housing prices would stop rising so fast back in 1995, because most baby-boomers now owned a home. When you analyze something as complex and multifaceted as an economy with billions of prices [...]

Trade On, Trade Off

By | 2013-01-29T05:05:33+00:00 January 29th, 2013|Global Market Update|

Can trade be improved? There are reports out of Davos—the generally worthless confab of glitterati and celebrity wannabees—that the US and Europe are close to a trade deal. UK Prime Minister Gordon Brown and Germany’s Chancellor Angela Merkel were among leaders pleading for lower tariffs and regulations. US Trade Representative Ron Kirk also got into the act, but noted that any deal would have to pass muster with US farmers and other interested parties. Any deal would help. It’s estimated that existing trade barriers [...]

Rooting for the Home Team

By | 2013-01-23T10:34:28+00:00 January 23rd, 2013|Global Market Update|

It looks like the Kings are headed to Seattle. Hedge-fund billionaire Steve Hansen and Microsoft CEO Steve Ballmer have teamed up to purchase a majority stake in the Sacramento Kings, the NBA franchise that moved to Sacramento from Kansas City in the ‘80s. The deal values the franchise at $525 million; it’s widely expected that the new owners will apply for permission to move the team to Seattle. Seattle has been without an NBA franchise since the SuperSonics moved to Oklahoma City in 2008. [...]