The Oxford Oracle

In 1985 the movie “Back to the Future” was released. As Wikipedia explains “Set in 1985, the story follows Marty McFly (Fox), a teenager accidentally sent back to 1955 in a time-traveling DeLorean automobile built by his eccentric scientist friend Doctor Emmett "Doc" Brown (Lloyd). Trapped in the past, Marty inadvertently prevents his future parents' meeting—threatening his very existence—and is forced to reconcile the pair and somehow get back to the future.” It's now 35 years later and I can’t help but wonder if we aren’t facing another crisis that could use some time-traveling help. You see, it’s been nearly that long since investors had to face down the terrible financial menace called inflation.

Much ink is spilled each day in the media about the "volatile" stock market.  Even with the S&P 500 up 10% year to date and an incredible 44% in the past year, the media continues to look for the bad news in a sea of good.

President Biden is set to address the nation tonight to pitch his "American Families Plan" in front of a socially-distanced Congress.  As with all new spending plans, the funding has to come from somewhere, and it appears that increased capital gains taxes will be a significant funding source.