Former Federal Reserve Chairman Alan Greenspan is worried about a bond bubble. “By any measure, real long-term interest rates are much too low and therefore unsustainable,” Greenspan said in a recent interview. “When they move higher they are likely to move reasonably fast. We are experiencing a bubble, not in stock prices but in bond prices. This is not discounted …

The prevailing view of earnings estimates is, to be blunt, dim. Many investors believe that companies and analysts conspire to keep estimates low to produce a “surprise” that drives the stock price higher. Anecdotal evidence suggests that the practice is widespread. The 30 companies in the Dow Jones Industrial Average met or beat the so-called consensus earnings estimate an average …

There’s a nice Annette Idler item at the Monkey Cage on what’s at stake in Venezuela that answered some questions I’ve been thinking about as a non-specialist. Call me naive or a foolish optimist, but I suspect that the most likely end to the North Korea “crisis” is that it will fizzle out. Yes, Donald Trump is capable of irrational …