“Although the Biden Administration’s Build Back Better tax proposals would reduce income inequality, they would do so at a cost that includes increased complexity … yet again. They could be targeted far more efficiently. America deserves a tax system that indeed Builds Back Better.” –...

“With stocks priced to perfection, America’s love affair with equities may be waning. Are there attractive alternatives?” – The Lonely Realist As TLR noted this past May, the Federal Reserve has the ability to deflate inflationary excess …, including priced-to-perfection equities. It merely has to “remove...

“The wings of black swans darken today’s sky.” – The Lonely Realist Black swan events are unpredictable surprises that portend unforeseeable and potentially severe consequences. The world is awash in 1930’s-like risks, some of which lurk in plain sight and others of which have not yet revealed...

“Governments in America derive their power from the people they represent. Powers not explicitly delegated are retained.” – The Lonely Realist Florida Governor Ron DeSantis and the governors of Texas, Arizona, Iowa, Oklahoma, South Carolina, Tennessee, and Utah have banned mask mandates in schools. Governments – local, State,...