May 1

Delta Force

Last week we looked at the world’s demographic destiny for the coming decades. I imagine most readers perused the information…

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Apr 26

Welcome to the Pale Gray Dot

“The afternoon knows what the morning never suspected.” – Robert Frost “It's paradoxical that the idea of living a long life appeals…

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Apr 17

What Condition My Condition Is In

I woke up this morning with the sundown shining in I found my mind in a brown paper bag but then I…

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Apr 11

Open Letter to the President, Part Five

When the next president of the United States walks into the Oval Office on Saturday, January 22, after the heady…

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Apr 3

Open Letter to the Next President, Part 4

For the past three weeks I’ve been discussing the economic realities the new president will face when he or she…

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Mar 28

Open Letter to the Next President, Part 3

“The liberating army we need in the Americas today is one of leaders who come together in peace, in the…

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Mar 22

Open Letter to the Next President, Part 2

“Europe was created by history. America was created by philosophy.” – Margaret Thatcher “Nobody in Europe will be abandoned. Nobody in Europe…

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Mar 15

An Open Letter to the Next President

“When America closes its doors, so does everybody else.” – Jon Huntsman, Jr. “Globalization and free trade do spur economic growth, and…

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Mar 8

Growth Is the Answer to Everything

“Growth is never by mere chance. It is the result of forces working together.” – James Cash Penney In this business we…

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Feb 29

ZIRP & NIRP: Killing Retirement As We Know

“Baby boomers who are counting on the stock market are in trouble.” – Robert Kiyosaki “Pension and health care costs for our…

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Feb 23

The Fed Prepares to Dive

“No one will lend at a negative interest rate; potential creditors will simply choose to hold cash, which pays zero…

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Feb 6

$100 Trillion Up in Smoke

“We aren’t addicted to oil, but our cars are.” – James Woolsey “The greatest asset, even in this country, is not oil…

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Feb 4

A Little Chaos Is a Good Thing

Longtime readers know that I rarely delve into partisan politics. That’s not the usual focus of this letter. While I…

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Feb 1

Tokyo Doubles Down

“When it becomes serious, you have to lie.” “I'm ready to be insulted as being insufficiently democratic, but I want to…

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Jan 24

China’s Year of the Monkees

“It does not matter how slowly you go as long as you do not stop.” – Confucius “Be extremely subtle, even to…

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Jan 17

2016: Surprises & Scenarios

“The expected rarely occurs and never in the expected manner.” – Vernon A. Walters “The fundamental nature of exploration is that we…

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Jan 11

Economicus Terra Incognita

“The most reliable way to forecast the future is to try to understand the present.” – John Naisbitt “We really can’t forecast…

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Dec 20

The Seven Fat Years of ZIRP

“The Fed’s emergency policies since 2008 have in one sense been a huge success, though we will never know the…

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Dec 7

You Have Questions, I Have Answers

Every week when I write letters to you, I face the question of what to write about and where to…

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