Almost all advanced economies are burdened with enough debt to remain vulnerable to double-dip recessions, according to Carmen Reinhart. Moreover, the obtuse, intensely ideological prescriptions proffered by such luminaries as Paul Krugman in the NYT, and Stanford's John Taylor and Harvard's Robert Barro in the WSJ, reveal little more than how the powerful vortex of today's debates have driven the finest economic minds to succumb to silliness.

In his latest quarterly letter, Jeremy Grantham postulates that if the Standard & Poor’s 500 overcorrects like the average of the past 10 great (pre-Greenspan) equity bubbles, the index could remain mired beneath its current 1,250 level for the next decade. Yet as he implicitly acknowledges, this is unlikely to happen.

Ask a former British Labour leader and an Orange County Republican about the future of capitalism, and the answers shouldn’t be surprising. Unless those two individuals are Tony Blair and Bill Gross.

Surprise, surprise. Even if the Occupy Wall Street protesters find it challenging to articulate precisely what they want, 35% of millionaires surveyed by Spectrem Group say they are making "a good and valid point."

After oversight of RIAs with less than $100 million in assets under management is transferred to the states, the SEC will have 18 to 20 examiners for every RIA firm with over $100 million in AUM, according to TD Ameritrade Institutional CEO Tom Bradley.