The growth of the U.S.'s bigger and broader productive economy has been stunted by bad policies and bank bailouts benefiting rent-seeking financiers siphoning off an outsized percentage of the nation's gross domestic product (GDP).
It's not a secret that many pension fund, mutual fund and hedge fund managers are concerned about high-frequency traders (HFTs). While their concerns are many, perhaps the biggest uncertainty involves the actual extent of HFT participation in the markets, their identities and their intent.
The Dow hit a level not seen since December 2007. The questions many are asking are: Why in the world are stocks going up? Doesn't the market realize we're facing an election year, an upcoming fiscal cliff, and unrest in the Middle East?
I am in love with copper, with coal, iron ore and oil, too, in that order, but not gold. Honchos scored with gold last year, but now gold is coming in, even with the Middle East in flux and incindiary.