We could use more people like Paul Volker, the former Fed chairman who saved the U.S. from hyperinflation in the early 1980s. He’s not only got the track record as a policy maker but also one as a forecaster. Of note was his prophetic speech reprinted in the April 10, 2005 ...

For the first time in decades, the S&P 500 is trading at fair value, according to several sources including the Financial Times of London. That is to say, the cyclically adjusted price-earnings ratio (popularized by Robert Shiller) has dropped to its long-run average. So too the Q ratio (invented by economist ...