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August 2017

The Economy from 50,000 Feet

A few friends have expressed the belief that interest rates have nowhere to go but up. This, of course, has been the mantra of the market for the past several years, and, perhaps, my friends have been listening too long to the talking heads on bubblevision. Here’s why it won’t happen: Today’s U.S. economy has many similarities to that of 1990s Japan. These include asset bubbles (equities), high debt burdens …Read More