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Daily Archives: May 8, 2012
On the face of it, this is good news for the little man. The most closely watched initial public offering in years – that of social media group Facebook – will reportedly include a dollop of shares earmarked for small investors.
Here is my advice: do not buy any. For every Google or Facebook, several more lie in the dustbin of Wall Street history. One-time go-go stocks such as Pets.com, Webvan and eToys are all just painful memories for those who took the plunge.
Poor Ben! He has gone further than any other central banker in recent times to try to stimulate the economy through monetary policy. He has cut interest rates to the bone. He has adopted innovative new methods of monetary easing such as quantitative easing. Again and again he has repeated that while inflation is contained, his main concern is the high level of unemployment in the United States. And yet he is chastised by progressive economists for not doing enough. Continue reading »