Immigration has a curious history. For the vast majority of human history over hundreds of thousands of years, our identity was “hyper-local”, defined by our family units and thus our tribes. Geographic location was much less relevant as we roamed and migrated in search of natural resources and protection from seasonal weather and predators. But…
It’s our first winter in rural Summit County, Utah. I’m certainly used to the scenes of snow after spending the last quarter of a century living in Park City. But I’m not used to the serene but rustic sights, sounds, and scents unique to the mountain-valley countrysides of Summit County. The setting was was so…
As those who’ve known me for some time will understand, mass media has long troubled me. Having been raised in rather socially-minded circles, as a young student of geopolitics, I grew up appreciating how mass media was a critical and dangerous weapon capable of convincing “the masses” of just about anything: it could divide a…
As I approach age 50 and recollect 30 years of post-childhood lessons learned, I recognize a pattern I’ve lived through a few times. I’ve learned that times of economic expansion have tended to teach me fallacies. It was easy to think I was a good bet-taker when every bet paid off. Until it didn’t. Since…
While our attention, motivated by media headlines, is focused on rising inflation, I humbly believe there is an equally high risk of a deflationary shock to the economy in the coming months and quarters. I worry that it is such a shock that could trigger the next recessionary cycle. Let me explain my thinking. Yes,…
While I’m not an economist by training, I’ve grown fond of contemplating and simplifying complex economic concepts so as they make sense to me. As I consider how to understand the scale of our economy (or of any economy, for that matter), I’ve realized that the answer is the product of three simple variables: working-age…
I’m nearly 50 years old. Some people live 100 years or more. With that in mind, I contend that so-called “history” is a lot more recent than we may have realized as students, especially for a very young country such as the United States. • Only 244 years ago, until Congress voted to declare independence…
I know it’s hard for many of my friends to appreciate the severity of the tension and helplessness that many African Americans feel towards law enforcement. To Americans of European descent, especially those in the upper socio-economic classes, the fear and antagonism directed towards a police force that is, by and large, hard-working and committed…
I’m once again in a bit of a contemplative mood thanks to a thoughtful coffee discussion with a good friend this morning. I’m more convinced than ever that, while it’s been the most tragic event of our lifetimes, we’ll exit this epidemic in a dramatically better place than we entered it. First and foremost, we…
I’ve long preferred real estate over financial assets. The 2008 crisis taught me a lot of lessons about real estate investing. Most of them were expensive. But, hey, education is worth paying for. However, unlike that last financial crisis over a decade ago, the current COVID crisis doesn’t have at its core a connection to…
Against the Herd 