Both California and Greece borrow long-term at about the same rate -- around 6%. Lenders know that when their backs are to the wall, both governments will have only two choices, not three. They can cut spending. Or, they can default.

The government would love to have some inflation. Trouble is, inflation is harder to conjure up than you might think.

Deeply flawed heroes at the world’s central banks and treasury departments think they can do a better job of guiding the economy than the markets themselves.

Americans with money are caught in a vise. On the one side is the de-leveraging economy. On the other is the government.

What a marvelous recovery. But there are so many unresolved mysteries. GDP growth over 5%, but mysteriously no jobs and no rally in the housing market.

How is it possible for the economy to go right back to Bubble Era growth rates after taking only a couple percentage points off of US GDP?

The first modern competition between gold and paper money ended like the pre-modern ones.

The feds can talk the talk. But they can’t walk the walk. Instead, they stumble from one error to a bigger one.

Good news and bad news.  But which is which?

Unemployment is still rising for two reasons. Because we are in a depression. And, because the feds are trying to do something about it.