As we all plan our investments for 2009, no factor is more important than the economy.  It is a subject on which everyone has an opinion.  That is the natural state in the American democracy, dating back to the observations of Alexis de Tocqueville.  His famous work, Democracy in America, is still read by every student of political science. While a complicated work should not be summarized in a sentence, the Wikipedia article includes a good warning: Democracy in America predicted the violence of party spirit and the judgment of the wise subordinated to the prejudices of the ignorant. The 21st Century Democratic opinion has advanced into the 21st century.  Modern scholars are impressed with how well de Tocqueville's work has held up, but there are some changes.  With the help of the Internet, everyone is able to offer ...

At "A Dash" we have some strong viewpoints about the Fed.  Prior articles have covered this point, including the following key points: Most of the big-time Street critics of the Fed (including plenty of those who are really smart, great traders, and offer timely advice) are overplaying their hand with Fed criticism. Wall Street guys need to learn that intelligent people can look at the same data and reach different conclusions.  The fact that one has a lot of money to manage or gets a big paycheck does not imply omniscience. People confuse what they believe the Fed should do with what they expect the Fed to do.  There is more money to be made by predicting the Fed, than by pontificating about their errors. Disparaging the actual credentials of others does not increase one's status.  The Internet and mass media create a playing ...