Did I hear the earth shift? Joe Biden intends to appoint Janet Yellen, former Chair of the Federal Reserve, as Treasury Secretary in his cabinet.  How sane is that: a person of vast financial experience, untimely beheaded by an insane president, only to be resurrected by a stable one

When Raphael Bostic became the first African American Fed president in the 106-year history of the central bank, he noted that since ours is a capitalistic democracy,  policymakers should create more economic opportunities for minorities and the poor. (“The Americans Left out of th

In David Copperfield, Wilkins Micawber reveals the secret to financial happiness: Annual income twenty pounds, annual expenditure nineteen [pounds], twenty [shillings]’and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, res

My broker called with a stock recommendation, yesterday. Beaten down by Covid-19 uncertainty, this long-established company had a good balance sheet, modest debt, and paid a decent dividend. I decided to take the recommendation. As a rule these days, I’m nibbling cautiously because

When I was a child, before television, I looked forward to attending Sunday matinees with my mother. If a film was popular and held over for a second week, waiting the extra time for a new title to appear on the billboard felt like a disaster. Forever Amber was held over, I recall, an

A friend emailed me recently.  She wanted to increase her contribution to her IRA but her broker didn’t return her calls.  What should she do?  Well, since the market had dropped 2,000 points that day, I suggested she send him a box of chocolates.  Of course, no one should try t

The latest round of scandals involving the President and the Attorney General is another body blow to our democracy. True, we’ve seen cozy relationships between a President and the Department of Justice before: John Kennedy appointed his brother, Robert Kennedy as U. S. Attorney Gen

My broker called this week. He wanted me to buy stock in a company that is building a gas pipeline somewhere.  I told him no. I’m not a purist when it comes to investing.  Oil and gas are still a part of our energy picture, but I won’t support new construction on a pipeline when

I support Elizabeth Warren’s bid for President of the United States.  She has plans to address our multiple problems.  I admit I couldn’t swear by any of them.  Take her wealth tax plan, for example.   Generally speaking, a wealth tax works like this: “You calculate a house

On Black Friday, I encountered a woman scurrying toward the entrance to my retirement center.  The raw wind blew past as I held the door open for her. As I did, I noticed the shopping bag she clutched in her hand was filled to the brim. “Did you get a bargain?” I asked, making li