Former Fed chairman Alan Greenspan has warned that the markets could over-ride the present policy settings of the QE regime. "Monetary policy is definitely an art not a science."...
Read more
Max Walsh, 20 June 2013, The Australian Financial Review (subscription required)
Excessive credit proved to be a hyper-destructive explosive that threatened those treading the easy credit path. Bill Gross paid his way through college playing blackjack. He founded the...
Read more
Max Walsh, 18 April 2013, The Australian Financial Review (subscription only)
Shortly before the US markets closed for Easter, the most closely watched US equity index, the S&P 500, hit an all-time high. The previous record high was recorded in 2007. The more...
Read more
Max Walsh, 4 April 2013, Australian Financial Review (subscription required)
After the United States left the gold standard in 1933, president Roosevelt would hold a conference from his bed with his advisers. There, he personally set a daily target for bumping up...
Read more
Max Walsh, 14 March 2013, The Australian Financial Review (subscription required)