By mid-December of this year, the “99ers†will appear. All 1,470,000 of them will ride in on the first wave. These are people who have been on unemployment benefits for 99 weeks and will see their benefits expire. The next wave will come by April of next year...
Financial markets function to discount the future. Usually, by the time you read about something in the newspaper, financial market pricing has already “discounted” that event weeks, months, or perhaps even years before it hits the front page and becomes evident to everyone else. That’s what it means to “speculate.†The whole world is...
If you’ve seen the movie “Thelma and Louise,” you’ll never forget the ending: In the last scene, the two main characters head down a dirt road in their top-down convertible. The road dead-ends at a very high cliff. The last picture of the movie shows the car in a dramatic free-fall off the cliff. That...
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