A list of all of Doc Werlin’s writings pertaining to economics.
Some six years after the 2008 financial meltdown, we are still learning important information about the mindset of policymakers during that anguished era. Recently released transcripts of the central banks' policy meetings in 2008 [...]
"Those who do not remember the past are condemned to repeat it." - George Santayana To put in perspective the importance of the Keystone Pipeline, we need to remember the shock the U.S. suffered [...]
"The future ain't what it used to be."- Yogi Berra It has always been difficult for the retail industry to keep its customer base because of constantly changing consumer preferences, rapid commoditization and low [...]
"J. P. Morgan as an institution failed, and failed miserably." - Manhattan U.S. Attorney Preet Bharara J.P. Morgan, fraudster Bernard Madoff's primary banker, agreed to pay more than $2 billion to avoid criminal charges [...]
Ernest Werlin's column appears today instead of Thursday because we won't have a business section Thursday. As an investment, gold lost its glitter in 2013. Year-to date, gold is down 28 percent, to around [...]
Last Friday, I met with a few friends to celebrate the holidays and discuss our thoughts about economic policy decisions made by the Federal Reserve and our Congress. My friends expressed their concerns about [...]
Philadelphia Federal Reserve president Charles Plosser thinks the Fed has gone too far. Plosser, in a Nov. 23 speech before the libertarian think tank the Cato Institute, proposed four limits on the central bank [...]
Fannie Mae and Freddie Mac, with a $39 billion payment to the U.S. Treasury by the end of the year, will be close to repaying the government almost the entire amount that was injected [...]
The media attention on the upcoming initial public offering of Twitter obscures a much bigger and possibly worrisome economic phenomenon: junk bonds. Global high-yield-bond issuance dwarfs new equity offerings. The Twitter initial public offering [...]
"More needs to be done to strengthen the recovery. Too many Americans still can't find a job and worry how they'll pay their bills and provide for their family." - Janet Yellen, nominee to [...]
Five years after the Sept. 15, 2008, collapse of Lehman Brothers and the paralysis of the global financial system, it is important to recognize that some of the causes of that calamity remain unsolved. [...]
We now have a classic case of being careful about what you wish for. When the Federal Reserve was ramping up its purchases of U.S. Treasury bonds to support the American economy, many overseas [...]
I was as surprised as the companies and everyone else seemed to be when the U.S. Justice Department filed a lawsuit Aug. 13 seeking to block the proposed $11 billion merger between US Airways [...]
One of the benefits of my column for the Herald- Tribune has been dramatically increasing my friendships. When I first started writing for our newspaper in 2008, I was a newcomer to Sarasota. The [...]
My story of the financial crisis and recovery might sound familiar to you. According to the Federal Reserve, the net worth of Americans is now the highest in history. We have rebuilt much of [...]
After 40 years as an investment banker, an incident on Tuesday brought into focus many of my basic beliefs in what makes for a sound investment strategy. On Tuesday, the Dow briefly plunged more [...]
"May you live in interesting times." Living in interesting times is a curse. Uninteresting times of tranquility are more life-enhancing than are interesting chaos. Amid sluggish global growth, many central banks, such as the [...]
On Nov. 3, 2009, legendary investor Warren Buffett made his biggest bet yet. His company, Berkshire Hathaway, agreed to buy Burlington Northern Santa Fe Corp., one of seven major American railroads, for $44 billion. [...]
"Those who cannot remember the past are condemned to repeat it." - George Santayana On March 14, a 301-page, bipartisan U.S. Senate report provided damning evidence of breakdowns at the nation's largest bank, JP [...]
I began writing columns for the Herald Tribune in March 2008. My second article, entitled "To Bear Stearns' shareholders, JPMorgan CEO is no Goldilocks," discussed JPMorgan's proposed acquisition of Bear Stearns at a severely [...]
It has Nothing to do with the Stars "Since the crisis, one by one, the stars came into alignment, and it was only a matter of time before you had a week like we [...]
"Do you know the only thing that gives me pleasure? It's to see my dividends coming in." - John D. Rockefeller While I like to think my life is not as narrowly focused as [...]
In a December article entitled "Going Nowhere Fast," The Economist reported that the S&P 500 has outperformed its hedge-fund rivals for 10 straight years, with the exception of 2008, when both suffered grievously. "A [...]
Whatever the outcome of the upcoming political machinations regarding the looming fiscal cliff, one thing is certain: The tax code will change. One of the changes being debated is the tax rate on dividends, [...]
A Dec. 4 Wall Street Journal article, "Top U.S. Firms are Cash-Rich Abroad, Cash-Poor at Home," discussed the liquidity problem confronting many of our major corporations. At a time when U.S. companies hold near-record [...]
Unless something is done between now and then, taxes are slated to go up across the board beginning early next year. Altogether, higher taxes -- the result of the dreaded "fiscal cliff" -- will [...]
"The last thing the world economy needs right now is the threat of rising protectionism" - World Trade Organization Director-General Paul Lamy Trade has fueled economic growth over the centuries, from the gold trade [...]
Economists debate whether the Federal Reserve has the tools to fix today's unemployment problems. They express frustration that, after four years of super-low interest rates and the Fed's extraordinary money-pumping, we still suffer from [...]
In August 2011, after months of wrangling over the deficit ceiling, political leaders from both parties decided to postpone solving our fiscal problems until January 2013. To resolve the impasse over the budget ceiling, [...]
"We are facing a fiscal train wreck at the end of this year. It is time to move off of fixed positions." - Sen. Kent Conrad, Democratic chairman of the Senate Budget Committee Congress [...]
On June 28, the Bank for International Settlements, an intergovernmental organization of central banks, in its annual report warned central banks against keeping interest rates low for too long. BIS, a kind of central [...]
"During the 2008 financial crisis, the bulk of the government's $700 billion Troubled Asset Relief Program went to aid larger institutions, leaving many smaller banks vulnerable." - Nobel Prize-winning economist Joseph Stiglitz, speaking to [...]
Many Americans think of Canada as our 51st state. But recent events highlight Canada's desire to avoid a satellite status and, instead, to expand its commercial relationships with China. Canadians, led by Prime Minister [...]
In prescribing a cure for Europe's economic woes, we might remember the lyrics of the song "A Spoonful of Sugar Helps the Medicine Go Down." Bob Sherman, the lyricist for "Mary Poppins," said he [...]
Billionaire investor Warren Buffett and BlackRock CEO Larry Fink recently provided a strong rationale for going all-in on stocks. Buffett wrote in his 2012 annual letter that he believed equities would, over time, provide [...]
Japan has lost its exporting magic. Japan's Ministry of Finance reported its first annual trade deficit since 1980: approximately $32 billion. A trade deficit occurs when a country consumes more (imports) than it produces [...]
