Learning Machine
The Dow, the S&P 500, and the Nasdaq remain near record highs and are up about 10% since Election Day. Fed officials say they could raise interest rates “fairly soon.” Blah… blah… blah…
One of these days… sooner rather than later… as soon as the data permit…Cartoon by Bob Rich
The economy is a learning machine. So is a person. We’re not talking about the kind of faux “learning” you do in school. Much of that is negative – ideas, information, and skills that destroy or delay real learning. In fact, some people stay in school to avoid learning.
Learning can be painful, humbling, and hard. And only win-win deals teach you anything useful. Economist Adam Smith described the process more than 250 years ago. Willing buyers and sellers discover what things are worth (what someone is willing to pay).
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