Bond Vigilantes Pounced, the Pound Rolled Over

Bond vigilantes sell bonds when they think government isn’t doing enough to control inflation. Dumping government bonds sends their prices lower and interest rates higher.  Ed Yardeni, who coined the term in 1983, puts it this way, “if the fiscal and monetary authorities won’t regulate the economy, the bond investors will.”  In the last week of September Britain got a bitter reminder of what can happen … Continue reading Bond Vigilantes Pounced, the Pound Rolled Over

Peril on Lake Erie

On Friday evening April 5, 1851 the paddle-wheeler Southerner departed Cleveland on its regular run to Detroit 168-miles to the northwest. Only four years old the Southerner and its sister ship Baltimore were the pride of the new Detroit and Cleveland Steam Ship Company. Like on so many earlier sailings Southerner’s decks were crammed with settlers and their luggage. The immigrants had purchased land in … Continue reading Peril on Lake Erie

Remembering Leonard Cohen

In honor of Leonard Cohen and the wonderful documentary of his life, “Hallelujah,” I’m reposting my Huffington Post reflection from the time of his death in 2016. THE BLOG Remembering Leonard Cohen By  Barry D. Wood, Contributor Washington-based writer and broadcaster Nov 14, 2016, 11:19 PM EST|Updated Dec 6, 2017 Judy Levinson lived in an upstairs apartment next door to where I stayed on Elm Street … Continue reading Remembering Leonard Cohen