Profiles

Men are not infallible; they err very often. It is not true that the masses are always right and know the means for attaining the ends aimed at. “Belief in the common man” is no better founded than was belief in the supernatural gifts of kings, priests, and noblemen. Democracy guarantees a...

I recently dug into our government’s convoluted unemployment insurance system. As is typically true with most government policy, any stone one decides to unturn is ripe with waste, fraud, and mismanagement.

In 1935, FDR (of course)...

There’s a saying on Wall Street referring to the stock market that “all correlations go to one in a crisis.” Perhaps more accurately, all correlations go to one when a single governing body determines interest rates for the entire economy.

Interest rates are the price of money. Virtually...

Nothing is so permanent as a temporary government program. - Milton Friedman

Not only does Milton’s quote hold true in times of dire crisis, but worse, programs expand with even less scrutiny and oversight.

If you’re unfamiliar with the situation in Sri Lanka, here are a...

The market is betting on recession and subsequent Fed pivot. A sound bet… but there is one flawed assumption.

Dec 22 and Mar 23 Eurodollar futures have inverted. In layman’s terms, the market is predicting a...