This blog is a way for me to pass along some of the stuff I learn on the journey and the past year has taught me a lot about furniture, furniture buying, and what constitutes quality furniture. Tying that into our usual discussion of economics and finance, I think it provides a lot of valuable…
I’ve been thinking a lot about free trade, labor unions, American manufacturing, and free markets for the past few weeks. You know that, on the whole, American manufacturing is still as strong as it was in 1960. We still produce roughly $20 out of every $100 of world goods. The difference? Technology and, to a…
This is a great way to start the day … one of the reasons I love writing this blog. Joshua, [In American Households Continue to Deleverage But That Only Tells Part of the Story, you wrote] “The numbers are just figures on a sheet trying to explain human behavior. Study the behavior, what is driving…
We’ve been looking for a corn chowder recipe to add to the “permanent” on-demand recipe collection but most are geared toward summer when fresh corn on the cob is abundant in the Midwest. This allows you to use the rich pulp, corn juices, and kernels to create a delicious, thick chowder that can be eaten on summer nights with a French baguette, preferably on the porch with a glass of sweet tea as your family and friends sit and talk with kids running around in the background.
The best message I received all day in the usual flood of reader submissions … Hello Mr. Kennon, I am 24 yr old who has saved/invested incessantly since I was 18, and my portfolio just recently breached 6 digits! I have always had a similar mindset to you when it comes to the future value…
In our discussion of how much money it takes to rank among the top 1% of wealth in the United States, we uncovered the fact that roughly 80 out of every 100 members of the “new elite” in the United States – those with at least $5 million to $10 million in liquid net worth…
Mental Model: Addition Through Subtraction Sometimes, in order to make something better, or work more effectively, you must take something away. This principle is called addition through subtraction. The theory behind addition through subtraction is that reducing components and complexity can add value if you make something: Simpler Faster More reliable More profitable Less expensive…
There is a great story about legendary British Prime Minister, Winston Churchill, that goes something like this: At a dinner party one night, a drunk Churchill asked an attractive woman whether she would sleep with him for five million pounds. “Oh my, Mr. Churchill … I suppose, but we would have to discuss the terms,”…
This evening we had a Belgian Waffle party. Before we get to the good stuff (for you foodies, anyway), let me say: Stop what you are doing right now and go buy the KitchenAid Pro Line Waffle Baker Waffle Maker. It is the greatest waffle maker I have ever used, ever owned, or probably every will own.
Of the many stupid things to do in life, one of the most foolish is to the fall for the “too nice to use” trap. The moment I hear anyone, whether friend or family member, business associate or stranger, talk about how they “never use” something, I want to grab them by the shoulders and explain the mental models behind their actions.