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Populism and Productivity

Populism is a political doctrine that espouses a commitment to the good of the common citizen. It is typically viewed negatively in that it appears to, or is assumed to, appeal to the prejudices and emotions of people of less means and educational attainment and...

Where Do We Go From Here?

The current equity market is the thirteenth bull market for the S&P 500 since 1928. At 96 months, it is the second longest bull run over the period: the longest, from 1990 to 2000, lasted 120 months and appreciated about 425%. The current market has appreciated...

That Was Easy

One thing we can say for sure is that the political drama in Washington is definitely not boring. This month the long awaited “Repeal and Replace” of the Affordable Care Act (ACA) made its first appearance in the form of proposed legislation. The legislation stalled...

Thoughts on President Trump

Tomorrow, Donald J. Trump will be inaugurated as our forty-fifth president. Fasten your seat belts. We cannot remember any previous incoming administration that has produced more head scratching than this one. There have certainly been other controversial...


Summary A calendar-year forecast for 2017 is even more difficult than usual because of the uncertainties accompanying the new regime in Washington Proposed tax reform, deregulation and fiscal stimulus could be good for the economy Despite Republican control of...