Competition is the facilitator of innovation. And creative destruction, the process by which less-productive capital is displaced with innovative cutting-edge technologies, is the driving force of wealth creation. - Alan Greenspan, 2002
Yes, I do believe creative destruction is the "driving" force. So let's get to it.
Sunday, Sunday, Sunday! This ain't no mama's boy Sunday picnic!
We're turning the financial arena into a giant mud pit! For the first time ever in the coliseum we are building a 200-feet-long, 4-feet deep pit of financially frozen asset-backed paper, then we're turning the bankers loose to blast their way through the muck and mud!
They'll be racing against the clock to see how fast and far they can negotiate the mud pit. There will also be a pro and amateur class for all risk takers.
This is a competition that anyone can enter! And I do mean anyone! Check the fine print on your money market fund! You are competing whether you want to or not!!
Apologies to Mud will fly inside Hardy Murphy Coliseum for my brutal paraphrasing of their work.
Philly Fed: State Coincident Indexes Increased in 45 States in February
(3-Month Basis)
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From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for February 2025. *Over the past thre...
1 hour ago
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