Is anybody at the switch?

There’s an old adage from the days of railroad, “asleep at the switch.” In that era, trains often rode common tracks in both directions within common time frames. The only salvation was the vigilance of the trackman who made switches from track to track to avoid collisions. As the bailout,...

Gold as wealth insurance?-How about nickel?

John Reade, chief metals strategist for UBS noted disconcerting tone in saying “this gold rally is driven by safe-haven fears, and has a very different feel from the bull market we’ve had for the past eight years.” The entire premise of Gold, a metal that would require mule trains, guards...

Have you heard of a telephone? 1876

Wells Fargo cancelled a planned sales incentive and reward trip to Las Vegas last month as the outcry over companies plans to spend TARP (Troubled Asset Relief Program) funds on “excessive” indulgences swelled to epic levels. No banks receiving TARP funding should have meetings that involve travel or hotel expenses,...

Case, Shiller and the Truth

As the mortgage pool assets are written down, and the collective that is America takes its lumps for this “perfect storm,” one question that just sticks in the craws of everyone (but the scarecrow before he met the Wizard); why? Real estate as an asset class has a classic growth...