No serious person thinks we should have zero border security – none! The political perspective is that (1) if you worship at the Republican altar, you must believe as instructed and (2) if you worship at the Democratic altar, you also must believe as instructed.  Nonpartisan thinking cannot be tolerated! The religious perspective on immigration … Continue reading Loose Thoughts on Immigration

“Past performance is no guaranty of future performance” — how many times have we heard that? Standard & Poor’s just released a report on “persistence” or how long does a high performing mutual fund continue to perform so well.  They looked at all 546 equity mutual funds that were in the top quartile (top 25%) … Continue reading Persistence

I had a roommate in college that was obsessed with women’s hair.  If he met a nice girl in English class, he wouldn’t say that.  He would say he met Brunette in English class.  He never used their names.  All women had just three names – Blond, Brunette, or Redhead.  He was not interested in … Continue reading Eyes on the Prize

Years ago, my parents gave me a little “lockbox” with a key about the size of a loaf of bread, for my important papers and other treasures, like my collection of baseball cards.  When I returned from the Army, the key was nowhere to be found.  Drilling it open cost more than the original cost.  … Continue reading Jim’s Safe Deposit Box

Raghuram Rajan recently wrote The Third Pillar:  How Markets and the State Leave Community Behind, and I attended the lecture he gave in Las Vegas.  He explained a healthy society needs three strong pillars, i.e., government, economy, and community.  He argued that we have a strong government and strong economy but community no longer exists for … Continue reading “Why Liberalism Failed”

For my inner economist, the first Friday of each month is the most interesting, as that is when the monthly “jobs report” is released by the Bureau of Labor Standards or BLS. This morning’s report (it is always released at precisely 8:30 AM.) showed a slight uptick in the unemployment rate to 3.7 percent.  More … Continue reading Good = Bad

When I went to Hong Kong in 1984, that city-state was still governed by the British but long-coveted by China.  I found that city to be a vibrant, exciting international financial center, with heavy traffic, crowded sidewalks, and excitement in the air.  One day, when I went on my morning run, the city was suddenly … Continue reading Thanksgiving for Independence