We Bet Your Money Is Invested Where It SHOULD Have Been
If your assets have done well the last dozen years it is very likely those assets will do poorly in the time ahead. This is because you likely have the wrong asset allocation for the policy shift happening.
The world is complex and complicated. It is made up of many moving parts, especially many different economies, governments and central banks. There are numerous sets of economic and tax policies around the world, and policies really matter. Government policies determine all asset prices by defining the rules of the game and altering the supply and demand for products, labor and capital. This changes the relative supply and demand for different asset classes. Monitoring and understanding shifts in policy tell us not only what to invest in, but when to invest. Since policy shifts are more powerful and durable than most people realize, asset classes may be in or out of favor for long periods.
Economy Is Way Too Complex To Be Planned From D.C.
Nobel laureate Friedrich Hayek, one of the greatest economists of the 20th century, said it is a fatal conceit for anyone to think that a single mind or group of minds, no matter how intelligent and well-meaning, could manage to do things better than the spontaneous, unstructured, complex and creative forces of the market.
The Obamacare Website Failed For The Same Reason The Soviet Union Did
If it’s any consolation to our bureaucrats, other governments are also having problems with healthcare IT. For example, in 2011, Britain’s National Health Service abandoned its efforts to computerize its medical records after spending almost $20 billion on the project.
The Obamacare website’s spectacular failure to launch was caused by the same thing as the implosion of the Soviet Union. No matter how brilliant the planners, central planning just doesn’t work.
At least one group of Americans loves ObamaCare
Take a quick glance at ObamaCare’s busted multimillion-dollar website and the 3.5 million health insurance cancelation notices hitting American mailboxes and you might be tempted to dub the whole thing a disaster. But it’s not — at least not for the politically-connected crony companies and big money Obama fundraisers poaching your tax dollars to fix the debacle they helped create.
As CNBC recently put it: “Thanks to ObamaCare, the health-care industry is going to get a big makeover during the coming years and venture capitalists have wasted no time looking for ways to cash in.” Put simply, ObamaCare’s complexity and catastrophic rollout create rivers of cash for Obama’s cronies.
“The fact that general prices were more or less stable during the 1920’s told most economists that there was no inflationary threat, and therefore the events of the great depression caught them completely unaware.”
“Rothbard showed that the ‘inflation’ went into areas other than the CPI prior to 1929 and that’s exactly what has happened here since 2009 as I and others thought it would.”
Amid austerity and debt, Denmark remains happiest nation
They are the most indebted people in the world, live through long, dark winters and have a shorter life expectancy than several Mediterranean countries.
Yet for the past four decades, the Danes have consistently rated themselves as the happiest people on earth.
Among foreigners in Denmark, theories as to why the host population is so content range from its egalitarian policies to its history to grumblings that some people are simply easier to satisfy than others.
Meet the seemingly unfireable female firefighter
Despite failing a required FDNY running test five times, Wendy Tapia was allowed to graduate from the Fire Academy and become a firefighter. On Dec. 2, she is taking the test for an unprecedented sixth time.
From The Cynical Illustrator