Today, Financial Leverage is simply the way we do business. Most of us don't give it a second thought: when we go to the store, we pull out the "plastic" and pay for our goods and items. Little do we realize that we have just made a loan with our credit card company. The dollars we're using to pay are part of a revolving loan with our VISA, Master Card, or other credit provider.

Today, Financial Leverage is simply the way we do business. Most of us don't give it a second thought: when we go to the store, we pull out the "plastic" and pay for our goods and items. Little do we realize that we have just made a loan with our credit card company. The dollars we're using to pay are part of a revolving loan with our VISA, Master Card, or other credit provider.

However, at this point, a puzzle emerged. Some more enterprising analysts noticed that the Gross Domestic Product did not equal the Gross Domestic Income (GDI). While the Product advanced at an annual rate of 5.2%, Income was up only 1.5%. The difference between the two measures is 3.7%. It's one of the most significant differentials anyone can recall.

However, at this point, a puzzle emerged. Some more enterprising analysts noticed that the Gross Domestic Product did not equal the Gross Domestic Income (GDI). While the Product advanced at an annual rate of 5.2%, Income was up only 1.5%. The difference between the two measures is 3.7%. It's one of the most significant differentials anyone can recall.

However, at this point, a puzzle emerged. Some more enterprising analysts noticed that the Gross Domestic Product did not equal the Gross Domestic Income (GDI). While the Product advanced at an annual rate of 5.2%, Income was up only 1.5%. The difference between the two measures is 3.7%. It's one of the most significant differentials anyone can recall.

However, at this point, a puzzle emerged. Some more enterprising analysts noticed that the Gross Domestic Product did not equal the Gross Domestic Income (GDI). While the Product advanced at an annual rate of 5.2%, Income was up only 1.5%. The difference between the two measures is 3.7%. It's one of the most significant differentials anyone can recall.

December 23rd, 2023, will mark the 110th anniversary of the Federal Reserve Board. Created before credit cards, before electronic funds transfer (EFT), before instant communications and the internet, and indeed before computers, the question arises: do we still need this anachronistic Central Bank?

December 23rd, 2023, will mark the 110th anniversary of the Federal Reserve Board. Created before credit cards, before electronic funds transfer (EFT), before instant communications and the internet, and indeed before computers, the question arises: do we still need this anachronistic Central Bank?

December 23rd, 2023, will mark the 110th anniversary of the Federal Reserve Board. Created before credit cards, before electronic funds transfer (EFT), before instant communications and the internet, and indeed before computers, the question arises: do we still need this anachronistic Central Bank?

It's one of those special memories that I look back upon and cherish, with just a hint of mystery. The year was 2001, and we were visiting my old hometown, Santa Barbara. After attending Mass at Mission Santa Barbara, we headed to the Four Seasons, renowned for its Sunday Brunch. It was the perfect place for the family to enjoy a bite to eat.