Category Archive for Economy

How Natural Disasters Impact Local Economies

The recent natural disasters in California, Texas, Florida, and Puerto Rico have been incredibly devastating. Many lives were lost and countless properties were destroyed, leaving people in a state of despair wondering how to proceed with their lives.  Our deepest sympathies go out to those affected by these tragedies. When the discussion turns to rebuilding…

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The Watney Rule

In February of 2016, Mitch Kapor tweeted out “The Watney Rule for startups: Survival depends on achieving self-sufficiency.” This tweet was a focal point in the Q1 2016 quarterly letter sent out by First Round Capital encouraging founders to not overly rely on follow-on financing.  By achieving some measure of self-sufficiency, founders and companies can…

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Patience in Investing: A Lesson From Berkshire Hathaway’s Annual Meeting

Last month, I had the opportunity to attend Berkshire Hathaway’s Annual Meeting. This “Woodstock for Capitalists” fully lives up to its hype, drawing tens of thousands from all over the world to Omaha, Nebraska. While the event attracts its fair share of celebrities and captains of industry, it also, unlike most annual meetings, draws a…

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Does Uber Pose Systemic Risk?

Most people probably think of the financial collapse of 2008 when they think of systemic risk. After all, those events led to Ben Bernanke describing some banking institutions as “too big to fail,” since they posed major risks to the health of financial markets. However, we must be careful not to associate the term “too…

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Solving America’s Savings Gap

It should not come as a surprise to readers that America is in the midst of a retirement savings crisis. One indication of the severity of this problem is that 55% of Americans cannot replace a month of lost income, but what is probably more alarming is the sum of money families have saved for…

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Creative Destruction

A recent article in the Wall Street Journal highlighted a very real force that moves throughout our world economy, a power once described by the economist Joseph Schumpeter as the “Gale of Creative Destruction.” Though the article did not specifically reference the expression itself, the author makes multiple inferences to it, suggesting that the ingenuity…

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X-flation: A Look at Inflation and its Variants

Now that the election has passed, financial writers are trying to decipher what exactly a Trump administration means for markets. Though his policies will surely change from what was said on the campaign trail, one topic that has garnered a lot of attention, especially after last week’s Federal Reserve meeting, is inflation. Milton Friedman described…

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Investing in Real Estate

Home ownership and real estate investing have been frequently discussed topics in the office over the past few weeks. In an environment where home prices and interest rates are low, buying real estate can seem like a great idea. However, after taking into account things like repairs, liquidity, and taxes, a much different picture can…

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The Future of the Motor City

In today’s political arena, protectionism has again come back into vogue, as pundits on both sides question the benefits and consequences of globalization. Many believe that policies which reduce foreign competition can help put Americans back to work doing the jobs that once made the US economy strong. No city in America can make a…

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Infrastructure Spending on Olympic Ghost Towns

Search online for the phrase “Olympic Ghost Towns” and numerous pictures and articles will pop up showing images of past Olympic venues which are now abandoned. Whether it is The Water Cube from the Beijing 2008 Summer Olympics or the bobsled track from the 1984 Winter Olympics in Sarajevo, almost every previous Olympic site shows…

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