Broken Promises: The Separation of Monetary Unions
“The man who in the view of gain thinks of righteousness; who in the view of danger is prepared to give up his life; and who does not forget an old agreement however far back it extends – such a man may be reckoned a complete man” – Confucius Throughout history, agreements have been […]
“HE WHO FAILS TO PLAN, PLANS TO FAIL” – Winston Churchhill
At this time last year, a lame duck Congress and the President were working on a bipartisan agreement to avoid going over the “Fiscal Cliff.” The result of their efforts was the American Taxpayer Relief Act of 2012 (“ATRA”) which was signed into law on January 2, 2013. Even though things appear to be relatively […]
The Harvester – Summer 2013
“THREE THINGS ARE TO BE LOOKED TO IN A BUILDING: THAT IT STAND ON THE RIGHT SPOT; THAT IT BE SECURELY FOUNDED; THAT IT BE SUCCESSFULLY EXECUTED.” – JOHANN WOLFGANG VON GOETHE The residential housing market has gone through some dramatic changes in the past few years, more so than any other market in recent […]
The Harvester – Spring 2013
“THE ATTACKS UPON THE COURT ARE MERELY AN EXPRESSION OF THE UNREST THAT SEEMS TO WONDER VAGUELY WHETHER LAW AND ORDER PAY. WHEN THE IGNORANT ARE TAUGHT TO DOUBT, THEY DO NOT KNOW WHAT THEY SAFELY MAY BELIEVE.” – OLIVER WENDELL HOLMES, JR. One of the most important factors for investors over the years has […]
The Harvester – Fall 2012
“THE STOCK MARKET IS BUT A MIRROR WHICH …..PROVIDES AN IMAGE OF THE UNDERLYING OR FUNDAMENTAL ECONOMIC SITUATION. CAUSE AND EFFECT RUN FROM THE ECONOMY TO THE STOCK MARKET, NEVER THE REVERSE. IN 1929 THE ECONOMY WAS HEADED FOR TROUBLE. EVENTUALLY THAT TROUBLE WAS VIOLENTLY REFLECTED IN WALL STREET.” – JOHN KENNETH GALBRAITH The Fed’s […]
The Harvester – Summer 2012
“THOSE THAT CANNOT REMEMBER THE PAST ARE CONDEMNED TO REPEAT IT” – GEORGE SANTAYANA Is History Repeating Itself? Truer words have never been spoken. The financial times and circumstances we are experiencing today have occurred in the past. There were many times in the 1800’s when our country experienced severe recessions. Over the past 20+ […]
The Harvester – Spring 2012
“HE IS NO WISE MAN THAT WILL QUIT A CERTAINTY FOR AN UNCERTAINTY” – SAMUEL JOHNSON How the Market Will Change as Pensions Disappear Pension plans and their liabilities/funding calculations are very complicated. We will try to simplify the calculation by using just one participant. Let’s assume that an individual is going to retire in […]
The Harvester – Fall 2011
“A CONTINENTAL CURRENCY, WITH A DUAL METALLIC AND FIDUCIARY BASE, RESTING ON ALL EUROPE AS ITS CAPITAL, AND DRIVEN BY THE ACTIVITY OF 200 MILLION MEN: THIS ONE CURRENCY WOULD REPLACE AND BRING DOWN ALL THE ABSURD VARIETIES OF MONEY THAT EXIST TODAY, WITH THEIR EFFIGIES OF PRINCES, THOSE SYMBOLS OF MISERY.” – VICTOR HUGO, […]
The Harvester – Summer 2011
“What experience and history teach is this – that people and governments never have learned anything from history, or acted on principles deduced from it.” – Georg Hegel Many people are trying to figure out why the economy has not rebounded as quickly as in past recessions. Even though every recession is different, there are […]
The Harvester – Spring 2011
“I don’t think it’s unthinkable.” – Warren Buffet on the collapse of the Euro The grand experiment called the European Union (“EU”) may finally be coming to an end. Portugal is just the latest crack in the armor. We have always been in the camp that the real test of the EU will be when […]