Let’s start by putting what’s happening within the context of the classic short-term debt/business cycle. What is Classic? In the “late-cycle” phase of the short-term debt/business cycle, when a) an economy’s demand is increasing at a rate that is faster than the capacity for it to produce is increasing and b) the capacity…

Every day I see examples of how our pursuit of short-term self-interest is being taken to such an extreme that it is threatening our long-term self-interest. For example, yesterday I read this article which explains how the wanton dumping of trash in the ocean is ruining the ocean. This will…

Reality works as reality works. In order to be successful, you need to know how reality works and operate by principles for dealing with it that get you what you want. I’m now at a stage in my life where I want to pass along the principles that helped me…

I believe that a) most realities happen over and over again in slightly different forms, b) good principles are effective ways of dealing with one’s realities, and c) politics will probably play a greater role in affecting markets than we have experienced any time before in our lifetimes but in…