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2011 Commentaries

Jeremy Stein – The Shadow Haircutter

The Obama administration has thrown some more Fed nomination spaghetti on the wall in hopes that something will finally stick! Peter Diamond was dk’d and Rich Clarida politely said no thank you – next up on center stage, Jerome Powell and Jeremy Stein. There is very little to discuss regarding Jerome Powell. He is a […]

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Nurse Ratched bears down as the TBTF backlash boils

A few weeks back we made a metaphorical comparison between the EU political theatre and the loony bin from the movie “One Flew Over The Cuckoo’s Nest”. At the epicenter of this comparison was Angel Merkel aka Nurse Ratched – the over bearing, power hungry, strict disciplinarian that runs the insane asylum. We compared her […]

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Bubble Money, Bubble Jobs and Emptive Policies

Spending last week in Georgia and Texas was fantastic – great debates and great evenings out. I learned after 45 years that I have a darker redneck side in me which has never been nurtured to its full potential. I need to go back down south soon! Of course, having the spoo rally 110 points […]

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Another code red

Good morning from Houston. It has been a nice couple days on the road with a stop at the Atlanta Fed for an excellent conference on peripheral Europe, and a great dinner last night with 25 very loquacious clients in Houston. I must say, spreading a message that is long term positive for risky/hard assets […]

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One flew over the euro cuckoo's nest

The first Thanksgiving, some 400 plus years ago, was celebrated by the Pilgrims to give thanks to God for seeing them safely out of Europe and onto the shores of the “New World”. Ironically, around many Thanksgiving tables this year, including Zervos family table, many folks once again gave thanks for being safely ensconced in […]

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Happy Thanksgiving

As we head into holiday mode, I just want to put out a quick note to clean up a few things. First, yesterday’s note generated A LOT of controversy. Of course, those that have been reading these commentaries for the past 2 years know that the style is meant to be controversial. That said, this […]

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