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Terry Connelly
Terry Connelly is an economic expert and dean emeritus of the Ageno School of Business at Golden Gate University, California's fifth largest private university and a nonprofit institution based in San Francisco with award-winning online cyber campus. With more than 30 years experience in investment banking, law and corporate strategy on Wall Street and abroad, Terry analyses the impact of government politics and policies on local, national and international economies, examining the interaction on global financial markets, the U.S. banking industry (and all of its regulatory agencies), the Federal Reserve, domestic employment levels and consumer reactions to the changing economic tides.

Terry holds a law degree from NYU School of Law and his professional history includes positions with Ernst & Young Australia, the Queensland University of Technology Graduate School of Business, New York law firm Cravath, Swaine & Moore (corporate, securities and litigation practice in New York and London), global chief of staff at Salomon Brothers investment banking firm and Cowen & Company’s investments, where he served as CEO. In conjunction with Golden Gate University President Dan Angel, Terry co-authored Riptide: The New Normal In Higher Education (2011). Available on, Riptide deconstructs the changing landscape of higher education in the face of the for-profit debacle, graduation gridlock and staggering student debt, and asserts a new, sustainable model for progress. Terry lives in Palo Alto, CA with his wife and also serves on the board of trustees for the Institute of Transpersonal Psychology.

Entries by Terry Connelly

'Whatever, Janet' Indeed -- Fed's Yellen Outfoxes the Bond Bullies, Finesses Rate Policy, Buoys Investors

(0) Comments | Posted March 23, 2015 | 12:50 PM

U.S. financial markets have been highly volatile but with little to show for investors, as opposed to traders, who make their best livings from pointless volatility, for all the swaying back and forth since the start of 2015.

We all know the basic economic facts: U.S. gross domestic product was...

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First Impressions of the 2016 Field

(1) Comments | Posted March 11, 2015 | 3:37 PM

Hillary Clinton: She is now famously known as the inventor of 'ME-Mail" -- maybe better than Snapchat for ultimate privacy and "control," because you have your own server and thus can "wipe the slate clean" before the hackers or Congressional committees or Republican National Committees can get into your trash...

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Obamacare Dominoes: If Federal Subsidies Fall at The Supreme Court, so Do the Individual and Employer Mandates

(0) Comments | Posted March 4, 2015 | 1:31 PM

Everybody seems to be missing the real issue at stake in the decision by at least four Supreme Court Justices to hear an appeal of a Fourth Circuit Court of Appeals decision affirming the applicability of Federal insurance subsidies for qualified individuals who purchase "ObamaCare" insurance policies on Federal Exchanges...

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IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

(0) Comments | Posted February 17, 2015 | 12:55 PM

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new government of Greece and the same old government of the Eurozone community about whether or not to extend Greece continuing credit despite...

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Maybe The Federal Reserve Has Been Right About The U.S. Economy All Along

(7) Comments | Posted February 10, 2015 | 11:16 PM

Hard as it may be for its legion of economic, political and media critics (and even some of its own members) to accept, the most recent bullish jobs report from the Labor Department looks like a ringing endorsement of Federal Reserve policies and perspectives on the economy. The...

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Blocking Minimum Wage Increase, Boehner Relies on Lies

(0) Comments | Posted January 27, 2015 | 3:05 PM

In the January 25 broadcast of CBS television's 60 Minutes program, House Speaker John Boehner dismissed any chance of increasing the current federal minimum wage as: a bad idea. "I've had every kind of rotten job you can imagine," he said. "Growing up, getting myself through school, and...

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CNBC, The Lame Duck Network: Shilling For Short Sellers and Hating Obama Are Not Enough Anymore

(22) Comments | Posted January 14, 2015 | 5:02 PM

Daytime ratings for the financial news network CNBC have been in free fall since the summer, when they hit a rock-bottom 21-year low. The CNBC response, of course, has been to shoot the messenger by leaving Nielsen as its rating agency! In fairness, CNBC has a...

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The Business School Dean's Quiz for 2015

(1) Comments | Posted January 6, 2015 | 4:27 PM

Give yourself three points for each right answer until the last, which, if you guess correctly, is worth four points. The Dean's guesses are shown at the end. We'll compare our guesses with reality at the end of 2015.

1. The most successful IPO of 2015: (a) Palantir (b) Shake...

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The Fright Before Christmas

(0) Comments | Posted December 18, 2014 | 6:58 PM

'Twas the week before Christmas

And all through the Street

Not a hedge fund was buying:

Instead--in retreat!

They'd bet big on oil--

Now they weren't in the black,

So they sold off their winners

To take up the slack.

The stock market tone?

Like taps on...

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Could the Oil Price Crash Kill Keystone XL?

(0) Comments | Posted December 4, 2014 | 10:02 AM

In late November, the lame-duck Congress came within one vote in the Senate of sending a bill to the President mandating approval of the controversial Keystone XL pipeline. That project would bring oil produced in western Canada - primarily from tar sands but also from conventional drilling -...

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Shhh... The American Economy Is on the Brink... of a Boom!

(6) Comments | Posted November 24, 2014 | 10:05 AM

For about a month through mid-October, the U.S. stock market went down a certifiable "correction" amount of 10 percent, falling on one pivotal day as much as 460 points, based on multiple emerging fears of potential events that would undermine whatever progress the American economy was making after...

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Obamacare Dominoes: If Federal Subsidies Fall at the Supreme Court, so Do the Individual and Employer Mandates -- Game Over!

(14) Comments | Posted November 18, 2014 | 1:24 PM

Everybody seems to be missing the real issue at stake in the recent decision by at least four Supreme Court Justices to hear an appeal of a Fourth Circuit Court of Appeals decision affirming the applicability of Federal insurance subsidies for qualified individuals who purchase "Obamacare" insurance policies on federal...

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Elections Have Consequences - And Truth: Here's Some of Both

(1) Comments | Posted November 11, 2014 | 4:54 PM

Here's to the winners! But who are they exactly, after the recent Republican sweep into power in the Senate and in a significant majority of governorships?

On the latter, the incumbent Chair of the Republican Governors Conference, Chris Christie of New Jersey, took a modest "victory lap"...

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Fear-Mongers on TV Spook Equities: Just in Time to Buy Cheap Before Great Earnings!

(0) Comments | Posted October 27, 2014 | 1:46 PM

Regular readers of this blog will recall the prediction a couple of weeks ago: short sellers on Wall Street and their accomplices in the financial media, especially cable TV, would use a confluence of threatening (but not yet realized) situations to whip up a frenzy of fear to...

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A "Hung" Senate with No Majority on November 4? Could Senate Independents Take Charge, Break Gridlock?

(0) Comments | Posted October 20, 2014 | 2:20 PM

In Australia at present, a small group of Senators, elected not under the party banner of either Prime Minister Tony Abbott's Liberal/National Coalition or the opposition Labor Party led in Parliament by Bill Shorten, but rather of the People United Party or PUP, led by mining and property magnate Clive...

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Will CNBC Market Negativity Again Bail Out Short Hedge Funds?

(1) Comments | Posted October 8, 2014 | 6:05 PM

All during the run-up in the stock market over the past couple of years, the major cable news outfit covering the financial markets, CNBC, has been relentlessly pushing the idea that the market needs to have "correction" of at least 10% to warrant further investment equities. Day after day, night...

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Unanswered Questions for a Consequential Autumn

(0) Comments | Posted September 26, 2014 | 3:17 PM

Chinese Checkers?

The Dow Jones Industrial Average set an all-time record during the trading week of September 15, but fell 104 points along with NASDAQ and the S&P 500 Average on September 22. The hot new Chinese internet IPO also fell 4% after its 38% pop on day one of...

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Market Manipulators Are Back in Season for the Fed "Septaper" Sequel: "Septighten"

(0) Comments | Posted September 16, 2014 | 5:05 PM

The summer is coming to an end without much success at the movie box office, but one "sequel" has emerged a winner this week although its ultimate fate awaits further developments.

Readers of this blog will recall that questions were raised here in late August last year about the...

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As Long As We're Talking About 2016, How Will They Manage the Republican Playoff With 20 Candidates?

(0) Comments | Posted September 9, 2014 | 3:12 PM

Hillary Clinton may be getting all the attention, but her path to the Democratic Party nomination for the Presidency in 2016 looks to be virtually clear of any serious opponents at this point. It's her race to lose and she is starting out alone at pole position with not even...

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Mobility Math: More Folks Renting = Fewer Mortgages = Lower Deficit and Lower Unemployment

(0) Comments | Posted September 3, 2014 | 2:03 PM

Don't look now, but renting is in! The mobility revolution isn't only about the Internet, the iPhone and advertising (although that's a big part of it). Think for a moment about automobile transportation. Starting with ZIP Cars and now on to Uber and Lyft, we're witnessing the emergence of successful...

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