Recently, we’ve been confronted with a few questions: Is it possible that we might avoid a recession? Has inflation been controlled without a surge in unemployment? And, can banks and commercial real estate weather the Federal Reserve’s significant rate hikes? The graphic below, depicting how often the term “soft landing” was used in the news,...Read More

“If I can be optimistic when I’m nearly dead, surely the rest of you can handle a little inflation” – Charlie Munger, Vice Chairman of Berkshire Hathaway (99 years old) We’ve been saying for a while that today’s market landscape is shaping up to be quite different from the past. We said it first in...Read More

Dollar Dominance The media often plays up the narrative that the U.S. dollar is about to lose its dominance. We can understand investors’ fear but cannot find an argument that warrants the decline in dollar power. We could find reasons to think the dollar may lose some value relative to others but to lose its...Read More

Prescribed Fire White oaks are large, deciduous trees native to eastern North America. The wood from the white oak is highly valued for its strength, durability, and resistance to decay and insect damage. It is also appreciated for its lack of porosity, making it vital to the spirits industry, which ages bourbon in oak barrels...Read More

“Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” —Frédéric Bastiat Not a day goes by without an article discussing inflation. And since that is the topic of this article, today will not be the exception. Good inflation, bad inflation, deflation,...Read More