We win, you lose: How shareholder value screwed the middle class

The American Dream changed somehow in the 1970s when real wages for most of us began to stagnate when corrected for inflation and worker age. My best financial year ever was 2000 — 18 years ago — when was yours? This wasn’t a matter of productivity, either: workers were more productive every year, we just stopped being rewarded for it. There are many explanations of how this sad fact came to be and I am sure it’s a problem with several causes. But this column concerns one factor that generally isn’t touched-on by labor economists — Wall Street greed.

Lawyers arguing in court present legal theories—their ideas of how the world and the law intersect, and […]

Prediction #4 — Bitcoin stays crazy until traders learn it is not a currency

2017 was a wild ride for cryptocurrencies and for Bitcoin in particular, rising in price at one point above $19,000 only to drop back to a bit over half of that number now. But which number is correct? If only the market can tell for sure — and these numbers are coming straight from the market, remember — what the heck does it all mean? It means Bitcoin isn’t a currency at all but traders are pretending that it is. 2018 will see investors finally figure this out.

Confusion abounds, so let’s cut through the crap with an analogy. Cryptocurrencies like Bitcoin, Ethereum and a ton […]

How to Get Rich Trading Bitcoin

Bitcoin_accepted_hereAs an observer of the Bitcoin market as long as this original cryptocurrency has existed, it never made much sense to me from an investment perspective. Bitcoin prices were too volatile and the volatility seemed too random. Volatility can be a good thing for traders, mind you, but only if you think you have an idea why the price goes up and down the way it does. Otherwise it is just a good way to lose all your money. But a couple of recent events have changed my view of Bitcoin. I now think I can explain its volatility and predict it well enough for profitable trading. And the best part is […]