Yellen at Congress

Fed chair Janet Yellen came to Capitol Hill Tuesday and Wednesday telling both senators and representatives how stuck between a rock and a hard place she is. The questions lobbed at Yellen were partisan and never hit the mark of what is truly wrong with the US economy. Market reaction — rather than pundit obfuscation […]

Kick the can: Greek style

Greek Finance Minister Yanis Varoufakis submitted his government’s list of reforms to the Troika — the EU, the ECB and the IMF — by the original deadline. Like a high schooler getting their homework in on time, Greek submitted its “reform”list on Monday night. The reforms included doing its chores, promising to walk the dog […]

Dollar strength leads to American weakness

US equity markets are taking the Greek bailout to the bank as the S&P 500 hit an all-time high on Friday. The Nasdaq is back to its Pets.com sock puppet levels back in 1999 during the dot com bubble. Dollar strength — while driving Corporate America to whine about how profits are deflated due to […]

Germans play hardball with Greeks

The German government is playing chicken with the Greeks as the EU has called for an emergency creditors meeting Wednesday. German Finance Minister Wolfgang Schaeuble said there is no more time or money going to Greece, without a resolution on terms of a payback. Newly elected Greek Prime Minister Alexis Tsipras and  Greek Finance Minister […]