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Christopher Whalen

Christopher Whalen is an author and investment banker who lives in New York. Read more about Christopher here.

Latest News

Washington & Wall Street: Bernanke's Housing Bubble is Unsustainable

Home prices rose last month by an average of 10.9%, according to the Case-Shiller index. The good news is that home prices continue to recover from the lows seen in 2009. The bad news is that increasingly frothy conditions in the housing market are neither normal nor sustainable. May 28, 2013 9:26 AM PT

Washington & Wall Street: Remembering Memorial Day

On Memorial Day we remember the members of the military, both living and departed, for their service to our country.  On this day I often think of my Great Grandfather, Richard James Whalen (1846-1903), of Poughkeepsie, New York.  Thanks to the efforts of my Uncle George Whalen, we know his history and a little about his father Patrick, who emigrated to the US around 1800.  The following except comes from the obituary published by The Brooklyn Citizen, Saturday, October 24, 1903: May 27, 2013 6:12 AM PT

Washington & Wall Street: What Does Japan Meltdown Say About US Markets?

“Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk,” Jonathan Burgos reports. What does this say about the US and, in particular, the policies of the Federal Open Market Committee, which are pretty much identical? May 23, 2013 11:05 AM PT

Washington & Wall Street: Goldbugs, Inflation Hawks & Growth

The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine. May 21, 2013 5:29 AM PT

Washington & Wall Street: Should JPMorgan's Jamie Dimon Wear Two Hats?

When it comes to the world of investment, the American model of corporate governance is decidedly monarchist in nature. Corporate chieftains behave like kings, with little accountability to the owners of the business – the shareholders. The debate over whether JP Morgan Chairman & CEO Jamie Dimon should carry both titles is a case in point. Most public companies combine the role of chairman and chief executive, but my view is that this is a terrible mistake. May 15, 2013 6:30 AM PT

Washington & Wall Street: Ben Bernanke's Global Inflation Strategy

The Fed has no intention of moderating its money expansion. In fact, financial ministers from the Group of Seven nation just met and spent most of their time trying to convince the Germans to behave as recklessly as the Japanese. Liberal economists argue that nations like Germany and the UK should reject “austerity” and print money too. But higher inflation in the future is the only result of current Fed reflation policy, with no growth in terms of real jobs and real wages. May 13, 2013 4:29 AM PT

Washington & Wall Street: Watt Nomination Is Chicago-Style Crony Capitalism

Most Americans did not notice when President Barack Obama tapped Representative Melvin L. Watt (D-NC) to become the new director of the Federal Housing Finance Agency. Created in 2008 to be an independent “world class regulator” for housing giants Fannie Mae and Freddie Mac, FHFA has yet to have a director confirmed by the Senate. May 8, 2013 7:59 AM PT


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