The Economy: It's always something. Even in times of milk and honey, whines and groans can be heard from somewhere. Bill Gates has his complaint list too. Yet we've had a decade of unprecedented appreciation in all asset classes. Stocks, bonds, real estate, collectibles and other assets have relentlessly marched upwards. Now the data is beginning to come in mixed and the hot-money is moving to the sidelines. As we've maintained for a while, Fed Watch should be at the forefront of everyone's mind. The Fed has engineered every boom and bust for the past 100-years. They have maintained a perfect record of being 100% wrong, 100% of the time. No reason this time will be different. Have a plan that you regularly review and be nimble. Never forget that markets can stay irrational longer than you can stay solvent. Stay on the dance floor for as long as your stamina allows; just make sure you're dancing closer to the exit door.
Food for Thought: Happy Thanksgiving! Thank you for reading More Money. I appreciate the opportunity to share my perspective with readers. Money is a fascinating knowledge field that is fraught, like nothing else, with the extremes of emotion, self-esteem and security. Helping people to understand the complexities of wealth has been an immensely gratifying career. As we look out over this Thanksgiving Holiday, each of us has countless things to be grateful for. Your reading this means that you live at the apex of humanity's socio-economic pyramid. It's a long way down from these stratospheric heights. Be Thankful. Be Grateful. Be Tough. Be Honorable. Never Give In. Never Give Up. Never Quit Dreaming. Never Quit Believing. God Bless America.