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Quarterly Economic Outlook: Q3/2016

The “Brexit” caused market swoon on Wall Street turned out to be a nasty 5.3% two day dive (S&P 500) that was all but reversed in the next 4 trading sessions.  The reason was clear early on – despite forecasts of immediate worldwide economic doom and gloom, the non-binding referendum was mostly a political statement about bureaucratic government, and the referendum split along demographic lines (older vs. younger, and rural …Read More

An Overview of Brexit

The Reaction of the European Bourses On June 14th, the FTSE closed at 5923.50.  On June 15th, the world’s major bourses began their run-up in anticipation that “remain” would win in the U.K. referendum.  The FTSE rose 7% from its June 14th level until June 23rd (to 6338.10), the day of the referendum.  The day after the referendum, when the “shock” of “exit” was highest, the FTSE fell 3.1% to …Read More

If You Build It, They Won’t Come: Opinion

It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.– Charles Darwin I am often asked: “When do you think the economy will return to normal?” My response: If by “normal” you mean what we had from the 1980s to 2008 — the “if you build it, they will come” economy — the answer is, not anytime in the …Read More