The Winds of Change
The Memo by Howard Marks
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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