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I Hear Flapping

I Hear Flapping

By definition, we are not supposed to be able to predict Black Swan events before they occur, but I hear a lot of flapping, and it’s getting louder. If you’re interested in the future of our economy, please read Mervyn King’s new book The End of Alchemy. Lord King was...

Preparing For the Next Black Swans

Preparing For the Next Black Swans

In my previous post I described how business cycle booms and busts are the norm, not the exception. Also, surprises, accidents and disappointments will happen regularly.  We should all prepare for these national and individual Black Swans, and those of us who are...

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