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The Fed is Poisoning the Economy

by Greg Curtis

“The Fed can remain irrational longer than you can remain solvent.” –What Keynes should have said. Last week I made two related points: The agonizingly slow economic growth and rapid increase in inequality the United States has experienced over the past decade aren’t the cause of constant Fed intervention; they are a direct consequence of …

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It’s Different This Time

by Greg Curtis
“The four most dangerous words in investing are: It’s different this time.” —Sir John Templeton “The 12 most dangerous words in investing are, ‘The four most dangerous words in investing are: It’s different this time.’ ” —Michael Batnick Whatever, read my lips: It’s different this time. From the time the United States was organized as …

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The Merciful End of My Blogcast

by Greg Curtis
Suppose you are determined to convert your written blog into an audio blog—what I think of as a “blogcast.” Suppose, on top of that, you are an incompetent reader of blogcasts. Finally, suppose you aren’t about to spring for a $500,000 text-to-speech synthesizer. What to do? I consulted a profession closely allied to that of …

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What’s the Best Financial Advice You Ever Received?

by PQ Staff
Joseph A. Scarpo, PWA Wealth Management At the age of 26, I was traveling to a conference in Chicago. The gentleman seated in the window seat informed me that most Americans never achieve financial security. He told me the story of his brother who had worked hard and spent hard. At age 65, his brother …

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What’s a Blogcast?

by Greg Curtis
As some of my loyal readers know, I launched this blog more than seven years ago—on January 1, 2013, to be precise. Since the blog comes out every Friday morning, you can do the math and figure out that there must be about 400 posts by now. And you would be right. This post is …

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America 2.0, Part 16: The Final Installment

by Greg Curtis
For readers who missed early parts of this series of posts, I am summarizing a novel written almost forty years ago. We are listening in as a young woman journalist interviews a very old man about the changes in America occasioned by the switch from voting to selecting public officials by lot. Journalist: Good morning, …

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When Weirdos Get Elected

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. Let’s be flies on the wall as a young woman journalist interviews a very old man about the changes that occurred in the United States as a result of abandoning the ballot and …

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A New Way of Governing

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. Since only 2 percent of Americans had “Capability Quotients” above 130, that meant that 98 percent of citizens would never hold public office. And that meant, in turn, that Grace Atkinson’s selection-by-lot idea …

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Only the Top Two Percent

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. Two days after receiving Grace Atkinson’s posthumous note, George and Jenny Leader found themselves in the Roosevelt Room across from the Oval Office listening intently as Dr. Michael Solomon discussed the issue of …

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Despotism of the Wise

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. Meanwhile, back in Washington, D.C… President Johnson had been seized on a Sunday morning, and everyone else on the list had been detained by 8:15 a.m. on Monday. By Monday afternoon, rumors had …

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Debating IQ

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. As Dr. Michael Solomon knocked cautiously on the door of Grace’s apartment, he was well aware that Grace was furious with him. Sure enough, when Grace’s face showed in the door window, she …

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Drinking Scotch and Talking Democracy

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. One evening at the faculty club, with Grace Atkinson and Michael Solomon deep into The Macallan, the conversation turned to Grace’s evolving views of the American Constitution. As noted earlier, Grace believed that, …

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Solomon’s Story

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. While the leaders of the Georgetown Convention are consolidating their hold on the U.S. government, we need to introduce Dr. Michael Solomon, an eminent professor of psychology and long-time friend and colleague of …

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Seizing LBJ

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. Gen. Green was startled. “Hold it, folks” he said. “I’m a desk jockey now, I haven’t commanded troops in the field since my last tour in Vietnam, back in ’64.” “But, Willy,” George …

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The Russkies, Vietnam and a Possible Coup

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. In the novel, written so many years ago, many chapters were devoted to the back-channel negotiations that went on between the Johnson Administration (in the person of Walter Rostow) and the Soviet Union …

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The Power of the Press?

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. With Plans A and B dead, the Approvals Panel began to discuss a fallback plan. One way to expose the Black Hole plot would be for George—or someone—to simply make it public. Call …

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Positioning Client Portfolios: Wentling Tarquinio Loughney, Greycourt & Co, Henry Armstrong Associates

by PQ Staff
Each year in the summer issue, we ask a group of Pittsburgh’s leading investment experts to answer a question for our readers in 250 words or less. This year’s question: “The coronavirus has led to the first bear market in more than a decade with widespread uncertainty remaining. How are you positioning your client portfolios …

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The Ways of LBJ

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional account written almost 40 years ago. As the ambulance pulled up to the farmhouse on the eastern shore of Maryland, George Leader was watching out the living room window. What he saw shocked him. An elderly, gray-haired woman was …

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Positioning Client Portfolios: Fairview Capital, Shorebridge, PWA, WesBanco

by PQ Staff
Each year in the summer issue, we ask a group of Pittsburgh’s leading investment experts to answer a question for our readers in 250 words or less. This year’s question: “The coronavirus has led to the first bear market in more than a decade with widespread uncertainty remaining. How are you positioning your client portfolios …

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A Great Mind Ponders Grim Alternatives

by Greg Curtis
For readers who missed part 1 of this series of posts, I am summarizing a fictional novel written almost forty years ago. When George suggested that Grace Atkinson be summoned to the deliberations on the Eastern Shore, not everyone was enthusiastic. For one thing, Grace was recovering from a stroke. Moreover, as one Panel member …

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Positioning Client Portfolios: PNC, Confluence Financial Partners, J.P. Morgan, Huntington

by PQ Staff
Each year in the summer issue, we ask a group of Pittsburgh’s leading investment experts to answer a question for our readers in 250 words or less. This year’s question: “The coronavirus has led to the first bear market in more than a decade with widespread uncertainty remaining. How are you positioning your client portfolios …

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Working in the Coronavirus Era

by Douglas Heuck
Q. How do you expect the aftermath of the coronavirus to change the working conditions for the American workforce? A. It’s definitely going to change working conditions. It’s also going to change the way we arrange work. Social distancing is going to change the workplace. The recovery is going to be gradual. I think you’re …

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