In The Great Crash: 1929, John Kenneth Galbraith describes one of the defining characteristics of stock market manias as obsessive attention to stocks with the euphoric belief of making easy money on share prices rising. This recurrent obsession he later describes in his 1987 book, A Short History of Financial Euphoria, as representing “recurrent lapses…Continue reading Asking the right questions about the Robinhood, GameStop meme-stock mania
Since I have not put up a post in over two months, I am doing this quick post to keep the blog fresh. Meanwhile, I have several posts in the works for July. The following excerpt is from a feature story I did for Dollars & Sense magazine. The article provides a summary of the…Continue reading Libor rigging and ARM loans: Another realm of bank collusion?