Welcome to Your Daily Smack Upside the Head

Reading this blog will not make you rich. I do not have seven foolproof steps to earning your first million before you turn 25. Nor will I join the many pretenders who claim to have extraordinary insight into what, where, or how to invest your money. All that said, I know that I can help you make money—mostly by not spending it in the …

The job loss torrent slows (we think)

The employment numbers released today were pretty encouraging. Payroll employment dropped by significantly less in May than most people expected, and while the unemployment rate is now at a scary 9.4% (and is headed higher), that’s a lagging indicator of the state of the economy. The index of weekly leading indicators compiled by the …

Hank Paulson, national hero

Evan Newmark has a column in the WSJ making the case that we should start honoring Hank Paulson as a “national hero.” Newmark lists the various improvements in credit markets since Paulson got Congress to approve his Troubled Asset Relief Program last fall, then writes:

All of this is not to suggest that TARP alone made all these good

Is Angela Merkel really upset about the Fed’s actions, or are all German politicians just required to say that?

German Chancellor Angela Merkel seems to have rocked the global financial boat with her intimation yesterday that central banks—with the Federal Reserve and the Bank of England leading the way—were overdoing it with their buy-every-asset-they-can-find approach to fighting the financial crisis. From the FT:

“What other central banks

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