Missile Defense: No Time for Easy Assumptions

David Halberstam, the Pulitzer Prize-winning author, has compared ballistic missile defense to the Maginot Line, the wall built after World War I to protect France from German invasion: Brilliantly constructed. Thorough to a fault. But utterly useless against the real...

Washington D.C., Our No-Spine Zone

Suppose one day you meet with a security specialist to safeguard your business. They’re called “For Everyone’s Defense” — FED. Fed tells you what bad things could happen and how they’ll protect you from them. You say okay and sign...

Laffer’s Curveball

Arthur Laffer’s op-ed piece in the Wall Street Journal (November 21, 2001) will set supply-side tongues wagging — or more likely, supply-side teeth gnashing. The upshot is: Laffer is endorsing the idea of a 10-day federally underwritten suspension of state...

An INS Horror Story

The INS bureaucracy is a cesspool of elbow-rubbers, string-pullers, chest-puffers and cover-uppers who care more about protecting their backsides than upholding the law. Look no further than the man who currently heads the U.S. Immigration and Naturalization...

Protect Yourself Through Diversification

Warren Buffett, who was probably the greatest investor of the 20th century, is fond of quoting the salacious actress Mae West as saying, “Too much of a good thing can be wonderful.” In the market, such a motto would lead you to avoid diversification and...

The Trouble With ‘Timing’: It Doesn’t Work

In the stock market (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will go up or go down. Over the long term, stocks generally rise at a nice pace. History shows they...

Contradictory Notions of Fairness

There was a time when Thanksgiving meant an occasion for counting our blessings. But, now that we have so many blessings that previous generations could hardly have dreamed about, we take them all for granted and are much more likely to count our grievances and the...

The End of the Beginning

“This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” So declared Winston Churchill after an early allied victory in World War II. It was a reminder to his nation that the war would require many more...

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