Bonds

Government Credit and Money

Dr. Tiemann takes a deep look at the historical antecedents, including Ely’s Rebellion and the writings of Joseph Hawley, to show why our monetary system relies on the soundness of Government credit. Dr. Tiemann maintains that keeping the public credit in good standing is of paramount importance.

<img class="aligncenter wp-image-15400" src="http://tiemann.net/wp-content/uploads/Government-Credit-and-Money-224x300.png" alt="" width="188" height="266" [...]

Growth in the Age of Cheap Capital

This note helps readers understand how corporate management thinks about and makes deliberate choices about their capital structure, depending upon market conditions, discount rates, level of employment in the economy and other factors. A refresher on Modigliani and Miller, and assessment of why companies appear to be doing better yet unemployment remains high.

The Borrower of Last Resort

Discusses why governments need private savings to maintain stimulative fiscal policies and why channeling those savings into investments is best. Review of the Keynes paradox of thrift, the need to reduce deficits but also how that can also be a recipe for disaster. Describes how the Feds can avoid igniting inflation and why government spending and borrowing […]

It’s a New Year — Now What?

Increases in the market risk premium analyzed, with assessment of implications for individual investment strategies relative to risk tolerance and investment timeframes, as well as risks to corporations with and without access to capital, in their abilities to prosper and produce superior returns.

A Pyramid of Little Golden Crumbs

A "no-holds-barred" review of the cast of unregulated characters on wall street who stand to earn fees on the transactions relating to home purchases and mortages by individuals, regardless of the ability of the homeowner to pay or the merit, quality or appropriateness of the issuance of the mortgage.

The Hidden Costs of Investing: The A, B, Cs of Mutual Funds

A discussion and primer on the hidden costs of mutual funds, the primary types of "pre-packaged" investments that many investors get "advised" to put their money into. This is a must-read for investors who want to know what their advisor earns, what their real costs are for owning mutual funds, and why total fees are not easy […]