Consumption is the Anchor, but Investment Drives the Cycle

Published on August 31, 2026

We often hear that consumption accounts for roughly 70% of the US economy and that, as long as consumers keep spending, the economy will continue to grow. There is certainly some truth to that.

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The QDIA Illusion: Why Your "Managed" Account Isn't Managed

August 31, 2026
A more sensible managed account is designed for investors who do want to work with an advisor — the self-directed participants — and to provide a suite of risk-based glidepaths from which to choose. These individuals tell you their risk preference and their expected retirement date, and you do the rest.

The Treasury Tries to Cap Interest Rates

August 31, 2026
The term “backfire” originally referred to the intentional burning of underbrush when there is a wildfire on the horizon, to keep a bad situation from turning worse. Over time, however, backfire has come to mean an action that makes a bad situation worse.