One did not need a college education to understand that nothing is free. Everything has a cost. Why? Because everything is scarce. Scarcity is the primary issue of the study of economics: how people, corporations, governments, and societies as a whole deal with the fact that “money doesn’t grow on trees.” Even if it did, it would be in limited supply – like Georgia peaches, for example.

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A Taxing Debate

The fact that the market has been positive thus far this week suggests to me what we already know: The computers are in charge of the short-term movement today. Investors have always been characterized as being heartless, but the machines actually are. The machines and the humans who program them are focused on tax reform. Will it get done?

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Second Quarter 2017

The lost decade. Back in 2010 there was a great deal of talk about how the United States stock market had gone nowhere for a decade. Fast forward seven years and we now find ourselves at the top of a very old bull market in US stocks, while the rest of the world has now experienced a lost […]

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