The Winds of Change
The Memo by Howard Marks
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What Comes After Twelfths?
With time, we'll see all of the just mentioned transitions take place. The process just won't be smooth and free of glitches. I doubt most people could actually explain what a trillion is. Elected officials throw around the term trillions and spend trillions without a way to really at the implications. What's next? If we live long enough, i'm sure we'll find out.
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