Russia intervenes in the ruble to try to slow a currency meltdown, plunging oil prices cause stress in the credit markets and deflation forces in the European Union and Asia threaten their financial stability.
When Dr. Alan Greenspan became chairman of the Federal Reserve, he moved from the world of rhetorical economics to the world of action. His most recent memoir attempts to make sense of how the financial crisis of 2008 came to be and how we can better predict future crises, along with the role of gold in a global monetary system.
"We have gone in and taken the assets away from the competent people, given them to the incompetent people and said to the incompetent people, now you compete with the competent people with their money. It’s absurd.”
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to an indispensable tool for managing risk as well providing an alternative investment to traditional stock and bond portfolios.
Equity indexes enjoyed one of their best runs since the March 2009 bottom, but that strength is largely attributable to various quantitative easing programs from the Federal Reserve. Now equities must stand on their own.