Word: yieldingness
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The bottom line: the chairman has changed the rules of the game. Even in the absence of any inflation, Greenspan may now referee not just how fast the economy can grow but also how much stock prices and productivity can rise. It's a clear signal that interest rates will...
I'm now bracing for another January campaign to stampede us all toward the scales. The Jenny Craig weight-reduction program has just launched a series of commercials featuring Monica Lewinsky. They compete with an already existing Weight Watchers campaign that features Sarah Ferguson, Duchess of York. Weight-reduction programs...
Safra, listed in Forbes magazine as the world's 199th richest person, was scion of a banking family that built its first fortune financing the Ottoman Empire caravan trade. Safra made his mark adhering to the old-fashioned banking-business model of securing deposits and then investing them in safe...
Which introduced one of the revolutionary implications of the surpluses that the board majority agreed really are in prospect. At TIME's meeting, Summers indicated that the $3.5 trillion public debt would be wiped out completely if all the Social Security surpluses and part of the non-Social Security surpluses...
HAPPY MUNI YEAR Low inflation and high yields are making municipal bonds an attractive buy. The yield on benchmark munis reached 5.99% a few weeks ago, a peak for the year. Those returns have slipped a bit since, but munis still offer relatively high rates. They are yielding more than...