On Jan. 5, President Obama introduced a series of Executive orders to increase gun control. Our Founding Fathers would be aghast.
To date, Obama has issued over 1,000 pages of Executive orders, an unprecedented amount. Executive orders are only supposed to clarify existing law, not create new ones. The Constitution clearly states that Congress makes the laws, not the President.
Forecasting isn’t a big part of what we do at our shop; mostly because a graph of any forecaster’s predictive ability from one year to the next would show a down sloping function between their accuracy and ability to add any value to your life. After all, how many forecasters correctly predicted equity and bond returns would be flat in 2015?