Postcards: "1993" - The Massive Monetary Policy Error That Crushed the Middle Class

Americans ask the same question - "Why is everything so expensive?" To understand that, one must recall a simple decision in Washington policy, one that has made everyone feel poorer.

Market Update: It was an ugly day after a long, multi-week period. A major undercurrent of rotation from technology to energy stocks and geopolitical concerns are rising again. This was the first warning sign, a big jump in the VIX, and a short-term breakout in the SQQQ. Sell calls on existing positions.

Dear Fellow Expat:

For all I complain about Florida’s Seasonal traffic… for all my anger at the three-lane congestion clogging Tamiami Trail (Route 41) from Fort Myers to Naples, Florida…

I forget.

There is a road, my expat friends, that I’d forgotten.

I shook its memory like a bar rag, swiped it into my brain's hallways, and then slammed it into a dark corner.

But… those three lanes… are back.

I’m talking about the white-knuckled journey down Interstate 83 to Baltimore.

As you leave crowded Baltimore suburbs, a flood of cars - swerving along each asphalt tributary on-ramp - builds going south.

Two miles from the city,  cars accelerate and pulsate.

The road shakes like a struggling artery p…