The stock market again is taking its near term cue from the debt markets—much as it did most dramatically eighteen months ago.
Over the past eighteen months, the private sectors in economies worldwide have been aggressively deleveraging. Some of it is forced—bank regulators have demanded that financial institutions raise equity capital to bolster balance sheets while [...]
Muni Bonds – The Unthinkable?
What do state and local governments in the United States have in common with the Big Three US auto manufacturers? First, both had/have too many workers that are compensated at levels that make them unable to produce goods and services in a cost efficient way. And second, both are plagued by long standing labor and [...]