Well, they did it. British voters decided to “declare their independence” from the European Union. But before we start talking in grand terms about self determination, there are some points to keep in mind. This is not Britain’s “July 4, 1776 moment.” This was a non-binding referendum that will require multiple years of negotiations between...Read More

The jobs report came in better than expected today, leading the usual barrage of speculation that the Fed will be tightening sooner rather than later. Guess what?  Not gonna happen. I try to avoid Fed bashing.  There is really nothing worse than a Monday-morning quarterback, and in any event, complaining about the Fed’s policies is...Read More

The best aspect of Bitcoin is that it is a free currency, completely outside of the control of any government or central bank. Funny thing is, the worst aspect of Bitcoin is that it is a free currency, completely outside of the control of any government or central bank. On the other hand, Bitcoin also...Read More

Janet Yellen must be wondering why she ever agreed to take this job. In her first congressional testimony today as Fed chairwoman, I witnessed one representative badger Janet Yellen to give a precise definition of how many hours per week qualify as a “part-time” job. A bewildered Yellen replied that those definitions came from the...Read More

What do you get when you have a second-term American president eager to secure a positive legacy and a European continent desperate for economic growth? If all goes well, you’ll have a game-changing free trade agreement between the United States and the European Union. The agreement—tentatively called the Transatlantic Trade and Investment Partnership (“TTIP”)—will potentially...Read More