Time to De-Cycle?

Last week, while going through a pile of international research, I saw a report that shocked me: it was an analysis of defensive stocks with low valuations in Hong Kong. I hadn’t seen defensive-value-themed research of that sort for at least two years, as...

My New Entitlement

By appearance alone, no one would ever guess that next year I’ll celebrate my 65th birthday. Going by this year’s presidential campaign promises, simply by surviving 65 years I acquire the right to have my prescription drugs paid by younger Americans....

Social Security Lies

Here’s what the 1936 government pamphlet on Social Security said: “After the first 3 years — that is to say, beginning in 1940 — you will pay, and your employer will pay, 1.5 cents for each dollar you earn, up to $3,000 a year. …...

Squandering the Surplus on the National Debt

Conservatives and Republicans are ecstatic about the bond buy-back and debt pay-down policy now in effect. This is misplaced joy and a political miscalculation. Every dollar that we use to pay down the debt has an opportunity cost. Each dollar could be used in a...