Why the Super-Rich Love Bubbles

Below, you’ll see the percentage share of US income for the top .01% of Americans plotted against stock market crashes. These crashes always follow speculative asset bubbles that find their way into the stock market or are sometimes native to the stock market. What I’d like you to pay particular attention to is the last…

What’s wrong with you?

MarketWatch held a poll asking “investors” what outcome for today’s jobs report would elicit a better reaction from stocks. 53% said it would be better if the unemployment rate was higher than expected, thus prolonging the need for Fed bond-buying. Are they right? In the short-term maybe. In the long-term, this is an outcome desired…

I Guess We Got Our Swagger Back

LOL at BusinessWeek’s latest Gatsby movie tie-in with any purchase of large fries or a medium Freez-E Shake: Americans’ wealth continued its snapback from the financial crisis in the first quarter, according to data released Thursday by the Federal Reserve. Household net worth jumped by $3 trillion, to $70 trillion, in the quarter, helped by…