“None of the U.S. expansions of the past 40 years died in bed of old age; every one was murdered by the Federal Reserve.” Rudi Dornbusch, MIT economist, 1997 This may be a rather graphic way of pointing out that economic expansions don’t just fade into recession without some outside help. Frequently that has come… Read More
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In the twilight of the holiday season, Charles Dickens came to mind; “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it… Read More
After spending most of the year celebrating news of the booming economy, investors suddenly veered off course in October and shifted focus onto a growing list of potential concerns. On the positive side of the ledger, and arguably already baked into prices, were impressive earnings gains fueled by strong fundamentals and recent tax decreases. S&P… Read More