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Everything Bubble
The expression "everything bubble" refers to the correlated impact of monetary easing by the Federal Reserve (and followed by the European Central Bank and the Bank of Japan) on asset prices in most asset classes, namely equities, housing, bonds, many commodities, and even exotic assets such as cryptocurrencies and SPACs. The term is related to the Fed put, being the tools of ''direct'' and ''indirect'' quantative easing that the Fed used to execute the monetary easing, and to modern monetary theory, which advocates the use of such tools, even in non-crisis periods, to create economic growth through asset price inflation. The term first came in use during the chair of Janet Yellen, but it is most associated with the subsequent chair of Jerome Powell, and the 2020–2021 period of the coronavirus pandemic. The everything bubble was not only notable for the simultaneous extremes in valuations recorded in a wide range of asset classes and the high level of speculation in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jerome Powell
Jerome Hayden "Jay" Powell (born February 4, 1953) is an American attorney and investment banker who has served as the 16th chair of the Federal Reserve since 2018. After earning a degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979, he moved to investment banking in 1984, and worked for several financial institutions, including as a partner of The Carlyle Group. In 1992, Powell briefly served as under secretary of the Treasury for domestic finance under President George H. W. Bush. Powell left Carlyle Group in 2005 and founded Severn Capital Partners, a private investment firm. He was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012, before returning to public service. He became a member of the Federal Reserve Board of Governors after being nominated to the post by President Barack Obama in 2012, he was subsequently elevated to chairman by President Donald Trump (succeeding Janet Yel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Powell Put
The Greenspan put was a monetary policy response to financial crises that Alan Greenspan, former chair of the Federal Reserve, exercised beginning with the crash of 1987. Successful in addressing various crises, it became controversial as it led to periods of extreme speculation led by Wall Street investment banks overusing the put's repurchase agreements (or ''indirect'' quantitative easing) and creating successive asset price bubbles. The banks so overused Greenspan's tools that their compromised solvency in the global financial crisis of 2007–2008 required Fed chair Ben Bernanke to use ''direct'' quantitative easing (the Bernanke put). The term Yellen put was used to refer to Fed chair Janet Yellen's policy of perpetual monetary looseness (i.e. low interest rates and continual quantitative easing). In Q4 2019, Fed chair Jerome Powell recreated the Greenspan put by providing repurchase agreements to Wall Street investment banks as a way to boost falling asset prices; in 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New Zealand Herald
''The New Zealand Herald'' is a daily newspaper published in Auckland, New Zealand, owned by New Zealand Media and Entertainment, and considered a newspaper of record for New Zealand. It has the largest newspaper circulation of all newspapers in New Zealand, peaking at over 200,000 copies in 2006, although circulation of the daily ''Herald'' had declined to 100,073 copies on average by September 2019. Its main circulation area is the Auckland region. It is also delivered to much of the upper North Island including Northland, Waikato and King Country. History ''The New Zealand Herald'' was founded by William Chisholm Wilson, and first published on 13 November 1863. Wilson had been a partner with John Williamson in the ''New Zealander'', but left to start a rival daily newspaper as he saw a business opportunity with Auckland's rapidly growing population. He had also split with Williamson because Wilson supported the war against the Māori (which the ''Herald'' termed "t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barron's (magazine)
''Barron's'' is an American weekly magazine/newspaper published by Dow Jones & Company, a division of News Corp. Founded in 1921 by Clarence W. Barron (1855–1928) as a sister publication to ''The Wall Street Journal'', ''Barron's'' covers U.S. financial information, market developments, and relevant statistics. Each issue provides a summary of the previous week's market activity as well as news, reports, and an outlook on the week to come. Features Features in the publication include: * ''Market Week'' – coverage of the previous week's market activity * ''Barron's Roundtable'' – Posts from noted investors such as Bill Gross, Mario Gabelli, Abby Joseph Cohen, Felix Zulauf, and Marc Faber * ''Best Online Brokers'' – A ranking of the top online trading brokerage firms. Criteria include trading experience and technology, usability, mobile, range of offerings, research amenities, portfolio analysis & report, customer service & education, and costs. * ''Top Financial Advis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national " newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wiley (publisher)
John Wiley & Sons, Inc., commonly known as Wiley (), is an American multinational publishing company founded in 1807 that focuses on academic publishing and instructional materials. The company produces books, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students. History The company was established in 1807 when Charles Wiley opened a print shop in Manhattan. The company was the publisher of 19th century American literary figures like James Fenimore Cooper, Washington Irving, Herman Melville, and Edgar Allan Poe, as well as of legal, religious, and other non-fiction titles. The firm took its current name in 1865. Wiley later shifted its focus to scientific, technical, and engineering subject areas, abandoning its literary interests. Wiley's son John (born in Flatbush, New York, October 4, 1808; died in East Orange, N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yellen Put
The Greenspan put was a monetary policy response to financial crises that Alan Greenspan, former chair of the Federal Reserve, exercised beginning with the crash of 1987. Successful in addressing various crises, it became controversial as it led to periods of extreme speculation led by Wall Street investment banks overusing the put's repurchase agreements (or ''indirect'' quantitative easing) and creating successive asset price bubbles. The banks so overused Greenspan's tools that their compromised solvency in the global financial crisis of 2007–2008 required Fed chair Ben Bernanke to use ''direct'' quantitative easing (the Bernanke put). The term Yellen put was used to refer to Fed chair Janet Yellen's policy of perpetual monetary looseness (i.e. low interest rates and continual quantitative easing). In Q4 2019, Fed chair Jerome Powell recreated the Greenspan put by providing repurchase agreements to Wall Street investment banks as a way to boost falling asset prices; in 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rana Foroohar
Rana Aylin Foroohar (née Dogar; born March 4, 1970) is an American author, business columnist and an associate editor at the ''Financial Times''. She is also CNN's global economic analyst. Life and career Foroohar was born Rana Aylin Dogar in Frankfort, Indiana, graduating from Frankfort Senior High School in 1988. Her father Aygen Erol Dogar is a Turkish immigrant and an engineer who started a small manufacturing business in the Midwest. Her mother Ann was a school teacher, and herself the daughter of immigrants from Sweden and England. In 1992, Foroohar graduated from Barnard College with a B.A. in English literature. Foroohar spent thirteen years at ''Newsweek'', as an economics and foreign affairs editor and as a London-based correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund's Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Paul H. Nitze ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quantitative Tightening
Quantitative tightening (QT) is a contractionary monetary policy tool applied by central banks to decrease the amount of liquidity or money supply in the economy. A central bank implements quantitative tightening by reducing the financial assets it holds on its balance sheet by selling them into the financial markets, which decreases asset prices and raises interest rates. QT is the reverse of quantitative easing (or QE), where the central bank prints money and uses it to buy assets in order to raise asset prices and stimulate the economy. QT is rarely used by central banks, and has only been employed after prolonged periods of Greenspan put-type stimulus, where the creation of too much central banking liquidity has led to a risk of uncontrolled inflation (e.g. 2008, 2018 and 2022). Background Quantitative easing was massively applied by leading central banks to counter the Great Recession that started in 2008. The prime rates were decreased to zero; some rates later went in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Chancellor
John "Edward" Horner Chancellor (born December 1962), is a British financial historian, finance journalist, and former investment strategist. In 2016, the ''Financial Analysts Journal'' called him "one of the great financial writers of our era", and in 2022, ''Fortune'' called him "one of the greatest financial historians alive". Chancellor is noted for his prescient warnings of the last three major economic bubbles in his published works: ''Devil Take the Hindmost: A History of Financial Speculation'' (1999, the dot-com bubble), ''Crunch-Time for Credit?'' (2005, the credit bubble), and ''The Price of Time: The Real Story of Interest'' (2022, the everything bubble). Early life and education Chancellor was born in Richmond, England to barrister John Paget Chancellor (the editor of ''Knowledge''), the eldest son of Sir Christopher Chancellor and Mary Jolliffe, who was the daughter of Lord Hylton. The Chancellor family were Scottish gentry who owned land at Quothquan since 1432. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wealth Inequality
The distribution of wealth is a comparison of the wealth of various members or groups in a society. It shows one aspect of economic inequality or heterogeneity in economics, economic heterogeneity. The distribution of wealth differs from the income distribution in that it looks at the Distribution (economics), economic distribution of ownership of the assets in a society, rather than the current income of members of that society. According to the International Association for Research in Income and Wealth, "the world distribution of wealth is much more unequal than that of income." For rankings regarding wealth, see list of countries by wealth equality or list of countries by wealth per adult. Definition of wealth Wealth of an individual is defined as net worth, expressed as: wealth = assets − liability (financial accounting), liabilities A broader definition of wealth, which is rarely used in the measurement of wealth inequality, also includes human capital. For example ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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