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Journalism and other myths.

Emergency Powers

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Queen Elizabeth II (or I, if you’re Scottish) is one of the most powerful people in the world. She can dissolve Parliament on a whim, declare war, revoke passports, and commit just about any act that would be a crime to anyone else with no consequences.

This may surprise you, given that she never does any of these things. Yet the main reason why the monarch of the UK still holds all these powers, what with the Magna Carta and Commonwealth and other historical tidbits, is a simple one. She absolutely never uses them. If she did, you can bet the UK would become a Republic faster than you could sing, “Rule, Britannia.”

This may seem like a rhetorical point, even with Brexit turning far further South than the Treaty of Rome ever enabled. But we’re about to see this principle in action. Not in the UK, but here in the US.

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Rail is Dead, Long Live Rail

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Governor Newsom has officially ended California’s main high speed rail effort, cutting the project to the small section currently under construction. It’s a sad day for those of us who are supporters of high speed rail across the US for many reasons.

The most important reason to find this announcement upsetting is that it simply had to happen. This line, as conceived, planned, and implemented was dangerously flawed. Moving forward with this as the standard of rail in the US would cripple implementation across the nation.

It’s better off dead.  We’re all better off with it being dead.

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Polar Vortex

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It’s polar vortex day across much of the United States. Temperatures are plunging well below zero, close to the point where going metric doesn’t change a thing. It’s a day to stay inside and huddle, a day to not only be glad you’re still alive but wonder why you live where the air hurts your face.

It is not, however, a day to talk about climate change. These things just happen on a big continent with interesting geography. The same forces that water it and keep it green also create nasty weather patterns that can kill us all. It’s a big part of the North American experience, and it’s why people tend to migrate freely in this part of the world and have since humans first arrived.

So let’s talk about the Jet Stream again, and why this is just one of those things.

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What Next?

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With the federal government open again, there’s a little less uncertainty in the economy. Things are back to normal and everyone is happy again. Right?

Unfortunately, the effects of the record shutdown are still hard to predict. As with any economic data, we won’t know until the quarter is over just what happened. We do have a few clues, however, and a few things that we can watch to know just where it’s going.

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What is a Bear Market?

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We recently stated that this is a “Bear Market.” So what does that mean?

It’s not all that scary, at least not once the market really settles into bear territory. In fact, it can be a great time of opportunity for many investors, particularly away from stocks. It’s worth spending a moment contemplating what a bear market is and why it’s important.

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