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I suggested, some months ago, that I wanted to consider dispensing with the printed version of this resource, and solicited subscribers' opinions....keep reading

At this writing in mid-March, after a historically mild winter, signs of spring are everywhere here on the North Fork of Long Island: buds on the trees and bushes, crocuses pushing up through the earth, and just a bit more daylight each evening....keep reading

Chart...keep reading

1. I always used to get enraged when Airbus, the heavily subsidized European ...
2. Two good talks by Fed governors, both from June 16th, offer a lot of perspective ...
3. I hope and believe it a sign of the maturing of this newsletter that I've started to ...
...keep reading

On a day when the broad market index was down a bit more than 20% from its October peak, I received a good news/bad news e-mail from a subscriber....keep reading

"(T)he stock prices of tech companies have lagged their profits dramatically since the end of the bear market in 2002 (see chart)....keep reading

1. Two great, not-to-be-missed talks came out of the Kansas City Fed's annual ...

On April 3rd of this year, the Nikkei 225 stock index closed at 17,333 -- its highest level in five years. The index is up over 70% since the middle of 2003, as Japan continues to emerge from the deflationary agony that has gripped its economy and its markets since its megabubble burst more than fifteen years ago....keep reading

It is a thing of the most wonderful irony that not two months after the global seizing up of the credit markets amid the so-called subprime mortgage "crisis," the broad equity market in the United States surged to new all-time highs....keep reading

With the stock market 35% up from its lows, the VIX at 30, new jobless claims decelerating, housing probing for a bottom, global orders-to-inventory back near normal, interbank counterparty risk spreads settled back down, interest rates ticking up, oil reflating, the stress tests passed and banks looking to pay back that onerous TARP money, reasonable people are allowing themselves finally to ask: is it over? The answer is: it sure as hell better be....keep reading

What a difference six weeks make....keep reading

"It's true that the very richest Americans..."...keep reading

This issue of Nick Murray Interactive completes its third year, and what amazingly eventful years they've been....keep reading

"Clearly, ideas shape societies and economies. Indeed, I have maintained over the years that the most profoundly important debate between conflicting theories of optimum economic organization during the twentieth century was settled, presumably definitively, here more than a decade ago in the aftermath of the dismantling of the Berlin Wall....keep reading

It is axiomatic, in the study of economics and markets, that the more warning a "crisis" gives you, the less chance it has of actually being something you have to worry about....keep reading

1. Elsewhere in this edition are two squibs from pieces that are well worth reading ...
2. Capitalism and democracy are the odd couple. While democracy needs ...

Congress -- the same Congress that amends the tax code on an average of once a day, to accommodate some campaign contributor or another -- is in high dudgeon about Enron....keep reading

A consistent theme of this newsletter over the past year or so has been that stock buybacks, which have been progressing on an astonishing upward path, were as clear a signal as the market could possibly want that common stocks were meaningfully undervalued in the judgment of the people best positioned to know: the management and the directors of the companies themselves....keep reading

Who Said It?...keep reading

The Empty Promise of "Safety"...keep reading