Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.
December 09, 2019
It was a dreary fall day as I climbed the stone steps to Marblehead’s cemetery, known as “The Old Burial Ground.” The weather was appropriate. The cemetery, dated 1638, is situated on a hill overlooking the ocean. I was curious what historic names might appear on the tombstones. After all, I live a block from General John Glover’s house. ...
December 04, 2019
Did you know that Americans donated $292 billion to charity last year? This is the third-highest number on record. Their year-end gift strategies...
November 07, 2019
In theory, a magician and an illusionist are the same. But an illusionist performs on a much larger scale. He’s the one who uses sleight of hand to distort the senses. Especially the brain. In effect, he makes perception overtake reality. Such a technique is used today in bringing a “new” company public. It starts with a “creative”...
October 15, 2019
The word, unimaginable, has a fearful connotation. It describes something we cannot comprehend because we have not experienced it before. This is the reality of a subzero interest rate environment. There is now 17 trillion dollars in sovereign debt paying a negative interest rate. Why would anyone want to purchase a bond...
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