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The Preeminence of Capitalism

I recently read a study which indicates that “Generation Z” (adults aged 18 to 24) preferred socialism to capitalism.  This is undoubtedly an indictment of the poor-quality of economic education in the American secondary and post-secondary educational system.  AND, perhaps it’s an indictment of parents who have raised children to believe that anything that is not equal is somehow “unfair” and therefore requires parental intervention to make it so

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Deficits and Debts

First, let's agree on definitions. By "deficit" I mean the amount by which government revenues (read: taxes) are less than what it spends in a given year. Second, by "Debt" I mean the accumulation of all the previous year's deficits. Another way of thinking of this is the total amount of what is owed by the government (read: taxpayers).

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Q4 2018 Market Returns

It's been a comparably rough 5 years to be a diversified investor. The S&P 500 has produced average returns over 11% annually in the five years ending Oct 31st while international and emerging market indexes produced far lower returns for the same period (1.86% and .78% respectively). Investors might ask themselves: "Should I stick with diversification?"

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