About Joseph Gitter

Central Banks vs. Wave Theory

The short version of the Long Wave story is that human beings are emotional creatures with limited memories. For as long as there have been markets we have been traversing the same sequence of emotional states, beginning with anxious conservatism in the aftermath of hard times, followed by cautious optimism and finally –as the original […]

America’s economic myths exposed

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Mainstream economists have filled the minds of most Americans with economic myths that are constantly reinforced by the media and repeated on the streets. These myths are erroneous at best, sometimes based on half truths. Many of them are just false. We hear and read them every day: “inflation” is caused by rising oil prices; […]

How To Hide a Depression

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I’ve suggested for some time that the U.S. is in a depression. The primary reason we do not have visible evidence of widespread poverty and suffering is massive government intervention in the economy. Despite the multi-trillion dollar “extend and pretend” game being played today, I suspect that with a little historical perspective the past 12 […]

Does Anyone Do Math Anymore?

While the European crisis continues to take center stage, nobody seems to remember the mess that the US is in. The federal government spends about $ 3.8 Trillion in a year and takes in approx. $2.15 trillion in various shapes and forms. That leaves a gaping hole of $1.65 trillion a year. The official national […]

Understanding Derivatives and Their Risks

Global financial markets are awash in hundreds of trillions of dollars worth of derivatives. By some estimates, the total amount exceeds one quadrillion dollars. Derivatives played a central role in the 2008 credit crisis, as they had a brutal multiplying effect on the magnitude of the carnage. As a bad asset was written down, oftentimes […]