A World of Pure Imagination This week I write you from the emergency room on Thanksgiving Day. My wife’s fingertip had an unfortunate tangle with a knife this morning. While it doesn’t appear too serious, it’s bad enough to warrant a check by a doctor in case she needs a stitch or two. Before I … Read more
When the Dam Breaks In 1931 six companies began work on the Boulder Canyon Project. It would become our country’s largest dam, designed to control the mighty Colorado River. Five years later, with the help of 21,000 workers, Hoover Dam was completed early and under budget. The purpose of a dam is to control liquidity … Read more
The 255 MPH Economy The Bugatti Veyron is a $1.4 million+ hypercar that gets an impressive two miles per gallon when traveling at its top speed of 255 mph. But the Veyron can only sustain its 255-mph speed for 12 minutes before running out of gas. Unlike our economy, the Veyron can’t refuel without coming … Read more
The Fed is Draining the Swamp There’s a phrase that goes around Wall Street trading desks that says, “Don’t fight the Fed” which translates to don’t fight ‘liquidity’. Liquidity, in stock market terms, is like the tide. During high tide, when water (or liquidity) is abundant, ships can come and go out of port with … Read more