Another code red

Good morning from Houston. It has been a nice couple days on the road with a stop at the Atlanta Fed for an excellent conference on peripheral Europe, and a great dinner last night with 25 very loquacious clients in Houston. I must say, spreading a message that is...

One flew over the euro cuckoo’s nest

The first Thanksgiving, some 400 plus years ago, was celebrated by the Pilgrims to give thanks to God for seeing them safely out of Europe and onto the shores of the "New World". Ironically, around many Thanksgiving tables this year, including Zervos family table,...

Happy Thanksgiving

As we head into holiday mode, I just want to put out a quick note to clean up a few things. First, yesterday’s note generated A LOT of controversy. Of course, those that have been reading these commentaries for the past 2 years know that the style is meant to be...

The Fed should just do QE for Europe

If you want to read one of the most misguided pieces of research on the euro crisis look no further than here - http://www.piie.com/realtime/?p=2504. After reading this you will understand the dark and disturbed German disease that my good friend, and esteemed global...

Angie, aint it time we said goodbye

As only Mick Jagger could sing it - Angie, when will those clouds all disappear. Angie, where will it lead from here. With no loving in our souls and no money in our coats. You can't say were satisfied. But Angie, you can't say we never tried. All the dreams we hold...