Phase Two

Age of Wisdom, Age of Foolishness (27)

Written by ,

“Let’s go round again”

Warren Buffett joined the new game of Monopoly (aka economic rent seeking), which was first observed being played by CEO’s in Age of Wisdom, Age of Foolishness (25) “Pride and Extreme Prejudice”, his most recent annual shareholder meeting earlier this month. He said:

“What really we want to do at our present size and scope, and with the objectives we’ve got for our shareholders, is we want to buy big businesses with good managements at reasonable prices and then try to build them over time……

………… It’s a different sort of build-up of value……..

……….We’ve moved into phase two.”(our emphasis)

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Afghanistan and Iraq: Wars Americans Want to Forget

May 18th, 2014
in history

by Elliott Morss, Morss Global Finance


Most Americans want to put the Afghanistan and Iraq wars behind them and “bring the troops home”. But these wars have had great human and financial costs to both the US and the countries invaded. And these costs continue to accumulate – more deaths, more instability, and more military expenditures. These wars and the lessons to be learned from them should not be forgotten. In this 2-part series on Afghanistan and Iraq, I provide detail on what has happened and what the US will leave behind.  

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Industrial Production Up 3.2%, But 2.5% Ex Raging Energy Boom

by Lee Adler, Wall Street Examiner

The Fed’s actual, not seasonally adjusted (NSA) Industrial Production Index was up 3.2% over the past 12 months after declining by 2.1% in April from March. The prior 10 year average decline for the month is -1.7%. Last year, the April decline was only 1.1%.

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Congressional Budget Office - Wrong Approach Generally Yields the Wrong Answer

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The Congressional Budget Office (CBO) announced this week their current economic advisers. This got me thinking of what advice the CBO needs. 

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Preliminary May 2014 Michigan Consumer Sentiment Disappoints

May 16th, 2014
in aa syndication, consumer sentiment

by Doug Short, Advisor Perspectives/

The preliminary University of Michigan Consumer Sentiment for May came in at 81.8, a decline from the April final of 84.1. Today's number came in below the forecast of 84.5.

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