May 12, 2020

The way forward is measured by the degree to which we will listen to scientists and consideration for our neighbors. As mitigation measures are reduced in stages, weighing the effect will occur. Benign data would suggest relaxing further rules.  Unfavorable data will r...

May 3, 2020

That this time is different is without a doubt. The question is, how different? While the depth of the contraction may have a parallel with the Great Depression, the speed of the collapse of employment is unrivaled in US history. Thus, the comparison to past economic c...

April 10, 2020

The speed of the equity market decline shares a common trait with the bull market that preceded it: they are both unprecedented in their length. The longest bull market gave way to the fastest crash in US history.  Investing was infected with the economic calamity that...

March 27, 2020

The economic epidemic is delivering uncertainty to such an extent that the equity markets fell at unparalleled speed. The economic decline may be higher than the great depression, and unemployment may reach 30%. With a vaccine delivery at least a year away, the viral p...

March 20, 2020

The prognosis is grim. Millions dead, overrun hospitals, and insufficient ICU beds for the seriously ill. These are the outcomes absent mitigation strategies to slow the spread of the virus until the development of an antiviral drug for treatment or a vaccine. Unfortun...

January 30, 2020

Economics is the science of choice. Politics is the science of expressing those choices. The degree of trust in markets to allocate resources largely determines where a country resides on the political spectrum. Little faith in markets veers towards state control of re...

January 10, 2020

  • Demographic destiny awaits as the marvel of the Millennial’s innovations transform the economy and the Boomers burden social programs.

  • The governance of choice will change the definition of privacy, how to build trust, and how we create.

  • The socializati...

November 30, 2018

The story of growth is productivity. Doing more with less. Before one can do more with less, one must learn. Thus, with experience comes productivity, particularly in a service-based economy. It is not a surprise that the proportion of experienced people in the workfor...

June 22, 2018

Investing is difficult, particularly achieving sustained success over the long term. The investment objective is clear: success is out-performing the defined return and risk objectives. For most strategic objectives, articulating them is far easier than their achieveme...

April 20, 2018

Commodity prices enjoyed a historic advance before the Great Recession as global economic growth expanded. Despite a rebound in growth after the Great Recession, an index of commodity prices now stands at the same level as it was in 1975. The natural question is to ask...

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