ZERO SUM GAME*

Stifel is a fair sized financial services company whose headquarters is across the street from my office building. The statue, obviously, represents the bull and bear, the endless combat of the markets. Note that neither is winning. Sometimes the overall size of the market grows and sometimes it shrinks. Maybe that's why economics is sometimes called the dismal science. The passer-by may have something to say about that.  

   * This post approved by Adam Smith.

DO BEARS CELEBRATE CHRISTMAS?

Bears are a prominent part of the Missouri state seal. Two of them stand, facing each other with grumpy expressions, around a circular device with the words "united we stand, divided we fall." In which case we are plummeting fast. But in any event, we have a large theater downtown named for whatever corporation puts up enough money. Flanking the entrance are a pair of stone bears with more benign expressions. Nothing like a pair of huge bears to make you feel welcome.