Economics was originally called 'Political Economy' and it's still true, especially today, that you can't separate the two or better yet three and name it 'geopolitical economics.'

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Your diversified portfolio must include cash or cash equlvalents

A sobering reminder of the cost of higher education along with its debt overhang accentuating the dilemma that families and their children face in determining the ROI of a college education bloomberg.com/news/articles/… via Bloomberg Markets

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It might be time to read or re-read Shiller’s ‘Irrational Exuberance’ and Thaler’s ‘Misbehaving.’ Human behavior can trump even sound economic fundamentals

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My article, 'Behaving Badly in 2019' was just published by the Grand Rapids Business Journal if you'd like to read it. grbj.com/articles/92598…

Martin Feldstein, Reagan's chief economic adviser, dies at 79 bloomberg.com/news/articles/… via Bloomberg Politics Professor Feldstein was a balanced, wise, and honest economist. Are there any remaining?

Has in fact the Fed both acknowledged and promoted an economic slowdown with little supporting evidence aka The Pygmalion Effect. lnkd.in/e8DfpPw

The perfect stock market storm with Trump upsetting the world trade apple cart and a non-committal Jay Powell. lnkd.in/dYaAPDp

Fed lowers interest rate. No underlying evidence for this move. Welcome to the political business cycle via Bloomberg Markets lnkd.in/d4fAqn3

Fallout from the pandemic and protests highlights income and wealth gaps that leave black Americans vulnerable, Greg Ip writes via The Wall Street Journal lnkd.in/d45h7HY

The stock market isn't worried; at least as long as interest rates are zero or below lnkd.in/eDvaQGi

Inflation was primarily self-induced and unfortunately will be self-correcting

Given the inflation report this morning apparently Janet Yelen was correct that it is in fact transitory.

Kissinger's thoughts on the Internet: 'Some of the greatest ideas of history, of philosophy, or literature, came out of the anguish of struggling for understanding, and might never have been reached if there was a helpful assistant who gave an immediately relevant solution.'

The economy is growing at a relatively healthy 2.8% or more. Unemployment is low albeit unequally distributed. And if real interest rates need to reflect the cost of capital. Then why would the Fed lower them?

‘Never let a good crisis go to waste.’ Churchill.

Albert Einstein, “The Real Problem Is in the Hearts of Men,” New York Sunday Times, June 1946. True then and True now.