Word: mellone
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...crisis now head for riskier assets. Throw in concerns over the U.S.'s spiraling deficit and calls from China for an alternative reserve currency, and "the likelihood is the dollar's going to remain under pressure," says Simon Derrick, head of currency research at Bank of New York Mellon in London. "You're going to see it continue to slide." (Watch TIME's video of Peter Schiff trash-talking the markets...
...signal on that. "There's clearly a debate going on within the Fed as to what they should do next, and there's no need to make a decision yet," says Marvin Goodfriend, a former chief economist at the Federal Reserve Bank of Richmond who now teaches at Carnegie Mellon's Tepper School of Business. "The Fed is essentially buying time before it commits to whether the disinflation risk is greater or the inflation risk is greater." (See pictures of the dangers of printing money...
...though, a gas tax that puts a floor on fuel prices may be the only way to break America's SUV addiction. But Obama has said he's not interested. "You need a price signal. Regulations alone won't do it," says Lester Lave, director of the Carnegie Mellon Green Design Initiative...
...Tinted Windows makes for an intriguing prospect. But the actual product has little in common with the past achievements of the bandmembers. Tinted Windows is 36 minutes of three-chord power-pop, and one is hard-pressed to find any connection to the textural diversity of “Mellon Collie and the Infinite Sadness,” Smashing Pumpkins’ 1995 masterwork, or to the sheer energy of Cheap Trick’s “Heaven Tonight.” To be sure, both Fountains of Wayne and Cheap Trick superficially occupied a similar power pop sphere...
...Because of these issues, muni bonds don't seem particularly cheap even though munis now yield more than Treasuries. Indeed, Gary Strumeyer, head of capital markets at Bank of New York Mellon, says munis are no longer in the same rock-solid category as Treasuries, so it's not even a fair comparison. "Every investor needs to understand the many risks associated with purchasing muni bonds these days," he says...