"I have often written that the four most dangerous words in the investment world are "This Time It's Different." If memory serves me, I have written several e-letters disparaging various personages who have uttered those very words, and gone one to confirm later that it wasn't different. It almost never is. And yet - and yet! - I am going to make the case over the next few weeks that it really is different this time, with only a lonely asterisk as a caveat. What prompts my probable foolishness to tempt the investing gods is the rather large amount of bad analysis based on unreasonable (dare I say lazy or surface?) readings of statistics that is coming from the mainstream investment media and investment types with their built-in bias for bullish analysis. Normally, gentle reader, your humble analyst is a paragon of moderate sensibilities, but I have been pushed over a mental edge and need to restore balance. I anticipate that this topic will take several weeks, as trying to cover it all in one sitting would exhaust us both. It should be fun....we are on a track that looks far more like the Great Depression than the recessions of our lifetimes. To expect a normal recovery cycle, whether it is corporate profits or lending or consumer spending or capital investment or (pick a category) is just not reasonable. This is a period that is fundamentally, in so many ways, different. And the recovery (and there will be one!) will also be of a different warp and woof throughout the entire world economy...The asterisk on "This Time It's Different*"? Human nature hasn't changed. We are still driven by fear and greed. The business cycle has not been repealed. Free-market capitalism will get us back (with a few new rules of engagement). What's different will be the nature of this recovery. All the other eternal truths will remain."
Finally, the phrase - "Too Big To Fail" yes our economy is too big to fail - and the requirement to restore growth is to eliminate the "waste:" unnecessary spending, using of credit, greed, planning and spending without really planning, Etc. ALSO - the speed of time in our lives and conditions cannot allow "the lapse of Recession/Depression" to happen - it is mathmatical and probable that this recovery will be called a Miracle - the government is doing the right thing by throwing money at everything (it's what we do - buy a problem away - it has worked every time and it will work now) What about the future cost. We live for now - the future will take care of itself - as it has in the past.
Best Pizza in Boise - Pie Hole on 8th St. - Try Thai Chicken (Wednesdays) or Pesto.Worst pizza I have ever tasted: Lucky 13, or should I say - tastless!
Best Overall City - where I live presently, Boise Idaho
Albuquerque, NM, Mexican Restaurant - El Pinto - Marinated Pork Burrito, W/ green chili sauce
Palo Alto, eat at Evvia. Truly, world's greatest calamari. - From Kathy Fored
Best Scone (ever) from 13 years on the road - Boise, Idaho - River City Coffee (was Big City Coffee - state st) 5517 W State St location - Also I cannot resit ,the Scone, at New Frontiers Natural Market in Flagstaff, AZ Also added is Boise Co-op - excellent my fav Peanut Butter and Jelly
Best GreenChile Burros - "the Burger House in Miami (aka La Cocina de Casillas) is open and they have the best green chile burros on the planet. "
Best Pizza - Fratelli's - Flagstaff - no really!!! order a pesto pizza - put parmesan and red pepper to taste - They'll ask, "Do you want anything else on it?" - NO!....Take Me Home!
Best Pizza - Hot Lips - Portland, Oregon. White pizza, w./ Butternut squash, Hazel Nuts, Roasted Garlic Cloves, Broccoli, Mozzarella, and maybe cheddar. - one slice enough
Best Coffee Beans - Cafe' de Dona Ella - farmed, processed and - El Salvador - my favorite type: sun-dried processed French (espresso) and Vienna Roasts
Best French Fries - McDonalds - lightly salted - produced and cut here in Idaho by JR Simplot, who is also one of the largest benefactors in Boise
Best Hamburger - Peter Luger - Brooklyn - order a piece of Bacon on the side - when you see it you'll know why - not cheeseburger - distracts quality
Best Italian Food - Joe Tecci's - North End, Boston
Best Stone Crabs - Joe's Stone Crabs - Miami
Best Texas Barbeque, Elgin, TX
Bever Street Brewrey - Best Restaurant Flagstaff, AZ
Cave Creek - Mexican Food - El Encanto - either location - Marinated Pork Burrito with green chili sauce - forget the rice and refried beans. A shot of Hornito's on curshed ice finished with mexican beer
Costco - Best cooked whole chicken and Barbque Ribs.
Favorite Beer - 1554, by the makers of Fat Tire - perfect with a robust meal
GatesBBQ. Best overall BarBQ Kansas City, Mo or Ks.
Hapa (CLOSED) - Best Restaurant - Phoenix, AZ
Malibu Yougurt - Best Frozen Yougurt, Mailbu, CA
My Favorite Bottled Salad Dressing - Annie's Goddess Dressing
My Favorite Red Wine under $20 - Massi - Valpolicella 2006, 7, 8 (but not 2009)
My favorite towns in America (so far) Ketchum/Sun Valley/Boise, Idaho, Entire Oregon Pacific coast, Flagstaff, AZ, Bozeman, MT, Sand Point, ID. San Luis Obispo,CA., Cave Creek, AZ., A triangle of 3 towns, 20 mi apart, Bend, Redmond and Sisters, OR. Woodstock, VT. Malibu, CA., Albuquerque, NM,
New York City - holds a place of its own - It is an Event!
Trader Joe's - Best almost everything - most everywhere.
Vivace - Best Restaurant in Tucson, Arizona
Worst Cities - Dallas, Chicago, St. Louis, LA, El Paso - for all the right reasons!