Robert Rubin

Central Bankers 'Are' The Crisis

"If there’s one myth - and there are many - that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them."

Inside The So-Called 'Resistance'

"Entropy never sleeps. It works remorselessly to transform things of value into useless, dissipated waste and heat...Hence, the intellectual decay of American life in which spin is everything, anything goes, and nothing matters."

TDB's picture

There is an old saying that one should never talk about politics or religion. I think that is just a way to make sure people don’t talk about anything productive or eye opening.

And I think it is basically the same attitude that makes the New York Times tell us not to “politicize the Federal Reserve.”

Nomi Prins On The Goldmanization Of President Trump

In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government.”  Under Trump, an even smaller group will flourish -- in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.

Is It Smart For Trump To Embrace "Big League" Dow Gains? History Says No

President Trump is anything but traditional.  That said, one Presidential tradition that Trump may not want to break is celebrating stock market gains because what goes up, at least on Wall Street, usually comes crashing down in spectacular fashion at some point soon thereafter.

The Problem With Forecasts

Talk about conflicted. Just ask yourself WHY Wall Street spends BILLIONS of dollars each year in marketing and advertising trying to keep you invested at all times. Since optimism is what sells products, it is not surprising, as we head into 2017, to see Wall Street’s average expectation ratcheted up another 4.7% this year.

Exit, Hope & Change - The Obama Post-Mortem

By now, anyone in this country still of sound mind knows that Barack Obama presided through eight years of remarkable continuity - of changeless conditions that left a great many hopeless. As the days of his tenure dwindle, what do we make of the departing 44th president?

Trump's Bait And Switch?

Within the political-financial establishment, the more things change, the more, it seems, they stay the same. As Trump moves ahead with his cabinet picks, several of them already stand out in a Mellon-esque fashion for their staggering wealth, their legal entanglements, and the policies they seem ready to support that sound like eerie throwbacks to the age of Harding.