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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

Afterthoughts From Iowa, and some Forethoughts

(0) Comments | Posted February 4, 2016 | 6:00 PM

Have you noticed that the Democrats don't have anyone running for president now who is the 25-54 demographic so popular with TV advertising executives? Or, put another way, they no longer have a candidate who's not as yet qualified for Social Security retirement benefits. The Republicans have several, including two...

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Four Ifs by Fed, Two Ifs by Me? Why the Reserve Board Will Likely Keep Its Interest Rate Powder Relatively Dry in 2016

(0) Comments | Posted January 19, 2016 | 7:07 PM

Since announcing last December that it would increase by .25 percent the range of its base interest rate for overnight lending for nearly a decade, the US Federal Reserve has signaled in multiple ways its intent to continue such increases four times during the course of this year....

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Four Questions for the Markets in a Pivotal Week

(0) Comments | Posted December 16, 2015 | 9:28 PM

Question #1: Is it possible that the continuing fall in the price of oil on the world and West Texas markets may not be due merely to the decision last week of the Organization of Petroleum Exporting Countries (or some of them) to abandon any attempt to set...

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GOP, Talk Radio Break Out the Ebola Playbook: Muslim Refugees Are the New Epidemic!

(17) Comments | Posted November 25, 2015 | 10:16 AM

Remember how New Jersey's Governor Chris Christie ("coincidentally," the State where thousands of "Arabs" gathered to cheer the fall of the World Trade Center on 9/11 according to his rival for the GOP presidential nomination, Donald Trump) came out tough as nails in the autumn of 2014 in favor of...

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What Could Trigger the Next US Recession: How About Trump's Plan to Deport 11+ Million "Illegal" Consumers?

(0) Comments | Posted November 9, 2015 | 6:44 PM

Maybe it's finally time to take the idea of President Donald Trump seriously. After all, it seems like America's largest retailer, Walmart, might be doing just that: a few days ago, the giant company lowered its outlook for revenues and earnings, citing a "tougher sales environment" than it...

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Top Campaign Songs of Summer 2015

(1) Comments | Posted October 5, 2015 | 7:24 PM

With apologies to the immortal Casey Kasem, here's America's top tunes on the summer 2015 campaign hit parade.

This Number One hit goes out on request to Hillary in Chappaqua (or was it D.C., Brooklyn, or Illinois someplace): a fresh take on The Beach Boys' all-timer, this...

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Is the Market Being Pushed Down to Help CNBC, Trump, and a Few Speculators?

(1) Comments | Posted September 30, 2015 | 4:55 PM

There has been really bad news on the Chinese economy almost daily as its industrial profits fall to the lowest level since 2011, when the US stock market had its last 10 percent "correction." Indeed, CNBC has finally got the market "correction" the business network has been

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When Is A Fed Rate Hike Not A Rate Hike? Maybe When it Just Drops The Zero and Goes Back To The Future!

(0) Comments | Posted September 10, 2015 | 4:38 PM

We have lived in an age of the non-denial denial; the non-bank bank; the non-responsive response. Maybe the time is just right for a Federal Reserve interest rate hike that's really not a rate hike.

The Federal Reserve Board leadership has been stressing the virtue of "transparency"...

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Revoking 14th Amendment Birthright Citizenship: The Ultimate in Voter Suppression

(6) Comments | Posted August 27, 2015 | 3:36 PM

Presidential candidate Donald Trump and several of his Republican competitors have now endorsed the notion of doing away with the very first sentence of the 14th Amendment to the United States Constitution, at least insofar as it has been interpreted to grant automatic citizenship to children born of undocumented immigrants....

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What to Watch for in the First GOP "Debate"

(0) Comments | Posted August 4, 2015 | 6:12 PM

First of all, let's stop calling the series of candidate nights over the next few months, featuring guaranteed friendly "moderators," a "debate." No college debater would recognize the format as a debate. Over a period of two hours of airtime, each of the "Top Ten Reasons for Voting Republican (or...

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Trumpism: Did Swift-boating McCain Go Too Far? Or Will the Rest of the GOP Have to Start a Third Party?

(13) Comments | Posted July 20, 2015 | 5:42 PM

There is a lot many do not know about Donald Trump. They know he is rich, of course, but they probably don't know he is one of the oldest candidates. If elected, he would be 70 ½ years old at the time of his inauguration--the age when we have to...

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The Euro at a Tsipping Point: Greece Gets a Yellow Card, Not Yet a Red, As Merkel's Bluff Gets Called

(0) Comments | Posted July 6, 2015 | 7:55 PM

As expressed (and predicted) in this blog several months ago, if I owe you 240 euros, it's my problem, but if I owe you 240 billion euros, it's certainly your problem, too. Germany's Chancellor, Angela Merkel, certainly doesn't want to admit this, but it turns out that she...

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Recovering From Suicide in Palo Alto: A Work In Progress

(2) Comments | Posted May 28, 2015 | 8:57 PM

In its June 2015 edition, San Francisco Magazine published a lengthy article entitled:"Why Are Palo Alto Kids Killing Themselves?" It was quickly re-published in SFGate, and also nationally in Real Clear Politics and The Daily Beast.

As provocatively as the headline promises, the...

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What Is About To Crash - The Markets, The Economy? Neither, Even If Greenspan (Who?) Says So!

(0) Comments | Posted May 15, 2015 | 5:50 PM

It's late spring, and the Chicken Littles are back. They don't fly but they do cluck. Ever since the US economy again showed barely any growth for the first quarter of the year, and even before, there was no end to the nay-saying commentators that jumped to cable TV attention...

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

(0) Comments | Posted March 23, 2015 | 1:50 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 | 4:37 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 | 2:31 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 | 1:55 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 11, 2015 | 12:16 AM

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 | 4:05 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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