Bob Murphy

Author Archive

Warren Buffett Invests $5 Billion in Goldman Sachs

Warren Buffett apparently is a Free Advice reader. He has decided to invest $5 billion in Goldman Sachs, no doubt after reading my earlier blog post which contained the following analysis: I heard a guy say on CNBC that it was crucial to save Goldman Sachs because it is a symbol of capitalism around the […]

SEC Adds to the (Long) Short List, But Allows Firms to Opt Out

The SEC added another 40 stocks to its “no short” list, but at least it is allowing firms to take themselves off the list: Meanwhile, two companies JMP Group [JMP]…the parent of JMP Securities, and Diamond Hill Investments [DHIL]…have been removed from the list. This is great. A libertarian writer (I want to say Boaz […]

Democrats Let Offshore Drilling Ban Expire!!

This just came out Tuesday night: Congressional Democrats have decided to pick their battles, and will allow the congressional moratorium on offshore drilling to expire with the fiscal year at the end of September. (The Gang of 10 and then Speaker Pelosi’s bill, which passed the House last week, were all measures to reinstate a […]

Wall Street Apologist Chadwick Latches on to Austrian Business Cycle Theory

At first I was really excited by this article linked from CNBC’s main page. The writer, founder of Ravengate Partners, early on sounds like Rothbard: There is a long trail to the current financial crisis. Listening to our Government leaders blaming Wall Street greed for the entire debacle begs a response. The Government itself is […]

Frederic Mishkin, Standup Comedian

A CNBC article had the headline: “Top Economist Mishkin: Worse Than the Depression” so I clicked on it. The piece contained two hilarious one-liners: Economics scholar and former Federal Reserve Governor Frederic Mishkin says the shock that continues to rip through the nation’s economy is actually worse than what was felt during the Great Depression. […]

Politicians, Not Ike, Causing the Return of Gas Lines

I explain in this IER piece. What tipped me over the edge on writing this up is that the absurdity struck us here in Nashville. It’s crazy; there are lines of 20 cars out into the street at busy parts of the day. The pastor at church even worked in gas shortage jokes into his […]

Bailing Into Commodities: How the Wall Street Bailout Raises Energy Prices

I explain in this IER blog post.

Diamond Hill Opts Out of SEC List of "Protected" Firms!!

If I am understanding this NASDAQ announcement correctly, it is the coolest thing I have heard in a while. Apparently NASDAQ issuer Diamond Hill Investment Group, Inc. (DHIL) has voluntarily opted-out of NASDAQ’s list of Covered Securities under the SEC’s Emergency Order. Diamond Hill Investment Group, Inc. will not be subject to the restrictions of […]