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.

Signs Of The Times

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Placards, posters and shirts from Friday's Occupy St. Louis march. Their camp is just a block from my office so I have had a chance to observe them. As time goes on, the more I admire their righteous anger over social justice issues and the more I despair over the naivete of at least some.

Invest in my future? You bet. I'm a student with an uncertain future? Well, which of us wasn't? (I would have been at least in the running for least likely to succeed in my high school class.) Dissent is patriotic? Right on! Wall Street sent all our jobs to China? Take a course in macroeconomics (not to excuse China's exploitation of its own workers).

But that tee shirt is delicious. I don't wish to offend our Republican friends - my father was a Republican and we got along with each other fine in later years - and everyone has the right to his or her opinion. But, um, talk about hitting the nail on the head...