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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

April Showers Hit Markets: Bring an Umbrella to Trade

(0) Comments | Posted April 11, 2014 | 11:13 AM

Forces at work from Tokyo to Kiev have been roiling the U.S. stock market for a couple of week. But the financial sushi that is now on the menu in Japan, and Russia's "Crimea of the Century" are only part of the story.

Japan is trying at long last...

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Anatomy of a Market Lie: CNBC Misreads the Fed and Helps Out Short Sellers

(0) Comments | Posted March 20, 2014 | 2:18 PM

Going into the Federal Reserve Board's Open Market Committee meeting of March 18-19, market expectations had coalesced around the expectation that the Committee would begin to change its "highly accommodative" monetary policy -- i.e., increase its target for the overnight "federal funds" inter-bank borrowing rate from its current level of...

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Putin' on the Ritz: Why Western Business Undermines Sanctions to Put Profits Ahead of Patriotism

(0) Comments | Posted March 11, 2014 | 1:28 PM

Want to put the squeeze on the outlaw Putin by dialing back the offshore shenanigans of his pals among the Russian super-rich? Wait just a minute, Mr. President: What might that do to the London real estate market? Let's see which side Prime Minister David Cameron ultimately takes on the...

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Finally, the End of the Five-Year Armageddon Trade?

(0) Comments | Posted February 18, 2014 | 4:16 PM

For the past several years, beginning with the collapse of the US housing finance market in 2008, debt and equity markets worldwide have been subject to periodic shocks and jolts that have given rise to what's now known as the "Armageddon Trade."

Reminiscent of the market positioning that occurred...

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Tinker, Taper, Forward Guide: The Fed Confronts the 'Coldilocks' Economy

(0) Comments | Posted February 11, 2014 | 8:21 AM

Once upon a time in a century far, far away, the U.S. economy was perceived by one and all as in a "Goldilocks" state: not too cold, not too hot, just right." Just like the porridge at the Three Bears' house -- or so it appeared -- conditions in the...

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The 'Wag the Dog' Market -- Stock Manipulation Made Easy

(0) Comments | Posted February 5, 2014 | 9:36 AM

The American stock market has been beset by a spike in volatility and downward pressure since the beginning of the year. Some of the riptide declines began with the unexpectedly light employment report for last December, issued early in January. While private research reports had documented net job increases well...

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What Everybody's Missing From the NFL Playoffs

(0) Comments | Posted January 24, 2014 | 3:10 PM

1. Why did the Patriots Lose?

Tom Brady had an off day when his team couldn't run the ball and the Broncos could then stack their deck against his passing game. Plus the Broncos' Wes Welker knocked out the Patriots' best pass defender, Akeem Talib, with what in pro...

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Somebody Got the December Jobs Data Very Wrong -- And It Matters to Your Money

(0) Comments | Posted January 21, 2014 | 4:50 PM

Early each month a lot is riding on the jobs and unemployment reports announced by the BLS and corporate surveys (the most prominent being ADP's). Billions upon billions of dollars are made and lost in the stock and bond markets based on those reports. Vital Federal Reserve monetary policy decisions...

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America's Downton Abbey Economy

(0) Comments | Posted January 9, 2014 | 1:47 PM

The BBC's Masterpiece series Downton Abbey certainly gives us a moving picture of how the top one percent in England lived before, during and after World War I in the early 20th century. Putting its family soap-opera aspect aside, it also gives us a refracted but nonetheless useful metaphor for...

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Why Pope Francis Is a Model CEO

(0) Comments | Posted January 8, 2014 | 10:57 AM

A reporter once asked the great slugger Babe Ruth why he was paid more than the Pope. The Babe was quick to reply: "I had a better year!'

But this year, the Bambino would have nothing on Jorge Bergoglio. Pope Francis is off to such a good start in his...

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The Night Before Christmas, Version 2.0

(0) Comments | Posted November 26, 2013 | 11:45 AM

'Twas the night of Black Friday,
And all through the Malls

The shoppers were stirring,
Over-crowding the halls.

Mama with her smart phone
And I with my Pad

Had just checked the prices
For what could be had.

When up on the Cable

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Teslas at Costco: Welcome to California -- U.S. Economy of the Future

(5) Comments | Posted November 20, 2013 | 9:57 AM

What is a luxury, $80,000 car (albeit with more subsidies than even ObamaCare's best option) doing in a Costco parking lot while the owners load up with discount groceries? Probably it's there as Exhibit A of the new California Economy -- coming soon, as most Californian things do, to a...

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Unconventional Wisdom On Obamacare

(0) Comments | Posted November 7, 2013 | 3:26 PM

The "deathwatch" is on for the firing of Health and Human Services Secretary Kathleen Sebelius, so says the Washington Post. She's an obvious example of someone just waiting at the stop to be thrown under the next bus to take the fall for and the heat off, the...

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Scratch Syria -- Now Congress Can Shut Down the Government and Default on Our Debt in Peace!

(2) Comments | Posted September 12, 2013 | 2:54 PM

The financial markets made very clear that they did not like the prospect of a punitive strike on Syria for using chemical weapons on its own people any more than the vast majority of Americans or members of Congress. And it looks like the markets are getting their way thanks...

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Red Lines, Deadlines, and Headlines

(2) Comments | Posted September 9, 2013 | 9:37 AM

Beware of "Red Lines" generally; and specifically involving the use of military force; and particularly in the Middle East, where any "lines" are usually drawn in sand.

But before jumping on the bandwagon that so readily concludes that President Obama has only himself to blame for the current consequences of...

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To Cut College Loan Default Costs, Reform For-profit Schools' Taxpayers Subsidies

(2) Comments | Posted September 6, 2013 | 12:50 PM

For-profit colleges enjoy the fruits of a business model to die for. It's not a new model. In fact, it's very similar to the one employed by subprime mortgage purveyors Washington Mutual and Countrywide Financial that helped put the entire global financial system at risk, pitching the U.S....

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Why the Rodeo Clown Incident Matters

(5) Comments | Posted August 21, 2013 | 5:42 PM

So a rodeo clown in Missouri puts on an Obama mask with a broomstick for a tail and then dashes around ducking the charge of an enraged bull while the announcer bellows out "Git 'im, Git 'mm. So what? Can't liberals take a joke?

Well that's the view of...

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Are Some Liberals the New Luddites on Big Data Science and the NSA?

(14) Comments | Posted August 5, 2013 | 10:48 AM

When you find yourself as a progressive liberal on the same side as Rand Paul and a whole lot of Tea Party activists and a large part of the Republican House caucus, the words "think again" might come to mind.

This is especially true when the progressives have made an...

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Conundrum in the Courts: Zimmerman's Lawyers Win

(3) Comments | Posted July 22, 2013 | 3:56 PM

Let's face it: George Zimmerman's lawyers ("bad counsel" West and "good counsel" O'Mara) pitched a no-hitter in his Florida trial -- or rather in the trial of Trayvon Martin, which they so artfully conducted with the egregiously ill-considered assistance of the prosecutors.

The State's lawyers started out with one...

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Speaker Limbaugh?

(2) Comments | Posted July 17, 2013 | 3:24 AM

In the first couple of years following the 2008 election of Barack Obama as president, the political sense was that the true leader of the U.S. Republican Party was not Senator McCain or Sarah Palin, the defeated national candidates, nor ex-President Bush, nor any member of the House or Senate....

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