On March 28, 2008, The Wall Street Journal published a piece by Michael M. Phillips on the destructive behavior of an alarming number of disgruntled homeowners that have found themselves in the final throes of foreclosure and have taken it upon themselves to trash properties extensively prior to eviction. According to the report, and attributed […]
US Housing Agency Chief Departs, Agency Should Follow Suit
US Housing & Urban Development (HUD) Cabinet Secretary Alphonso Jackson has resigned under the cloud of allegations that he steered lucrative contracts to friends. I am reminded in the scene from Casablanca, where the Claude Rains character declares that he is shocked to discover that gambling is going on at Rick’s Cafe Americain. If true, why […]
The Fed’s Free Market Illusion
The very recent Treasury Department and Federal Reserve lender bailouts, interest rate manipulation actions, economic “stimulation” (in the form of giving taxpayers a small rebate of their own money), and now the orchestration of the Bear Sterns buyout deal (Treasury Secretary Paulson is a former Bear Sterns CEO—a very disturbing fact in light of the […]
The Market Is Inefficient
Frankfurt, Germany, January 2008 “The market is inefficient”. There I said it. I know that I am committing an inexcusable act of apostasy, especially for a master of business administration. But volatility in the world financial markets this week brings the issue into focus. Even the liberal bastion, the Financial Times, is musing about the meaning of these convolutions. […]
Understanding The Concept Of Market
A market is a set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange. Thus, the size of a market depends on the number of people who exhibit the need, have resources to engage in exchange, and are willing to offer these […]
Asian, European Markets Start The Week On a Positive Note
On Friday, Wall Street ended higher with the Dow closing up 2.3 percent, the NASDAQ composite gained35 points, while the S&P500 added 16 points. On Monday, Asian indexes closed higher with Japan’s Nikkei up 0.32 percent, the Hong Kong blue chip, the Hang Seng index up 2.86 percent. In Sydney, the ASX100 was up 1.52 […]
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