The dark comes before dawn. The financial markets are under great pressure because of the lack of leadership during the transition period.

The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

However, even a strong government can't perform miracles. It needs money from the taxpayers.

Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.