This is a short note to highlight the significant decline in market volatility over the course of the past year. Price volatility is often t...

Valued readers, please excuse me. For the past few months I've suffered from writer's block complicated by a lack of government-prod...

This post is an update of a thesis I have been working on for many years. It's based on a fundamental tenet of Milton Friedman, who taug...

Inflation is not like a virus that spreads through a population. A rising price in one part of the economy cannot "infect" a price...

California voters approved the now-infamous high-speed-rail project in 2008; it was projected to cost some $33 billion and was to encompass ...