Since the dawn of time music has played a pivotal role in the defining of the times and the progression made. We would like to utilize the artistic genius of these maestros to bring some context to the current pivotal point in the economy and capital markets. Our investment outlook and review of 2017 will be available the first week of 2018. This is meant as an economic backdrop to what we see occurring in 2018.

It is said there are three ways to make a mortal enemy of a stranger – inform them that their kids or pets are unattractive, that their political views are obtuse or that they have poor taste in music. I am sure the songs I’ve chosen will evoke nods of agreement, disdain for some and others who just don’t care. In many cases, these choices weren’t meant to define the modern economy when they were written, however, the timeless wisdom could work in multiple periods. We have also moved from a time when the radio was the only medium and the personalization lay with the DJ relaying tributes over the air. Enter the jukebox that had a collection of songs that exchange quarters for a three-minute moment of social relatability. Then we moved to mix tapes in the ‘80s and everyone thought they were John Cusack in “Say Anything” blaring the boom box in the early morning. Fast forward to playlists that are shared at the drop of a dime with anyone who wishes to listen. Music is meant to amp up the moment, soothe the savage beast and everything in between.

The Overall Theme: Paul Westerberg “Runaway Wind”
You trade your telescope for a keyhole
Make way for the gray that’s in your brown
As dreams make way for plans, See ya watch life from the stands

The trading of the telescope for the key hole is a natural byproduct of the specious state of information. The whirlwind that used to be the daily news cycle has been upgraded to a tropical storm and it doesn’t appear that it will subside anytime soon. As we try to make sense of the contradictory and catastrophic headlines, most are left to downgrade expectations and bury their heads in the sand and money in the backyard. We are more alert than ever but none the wiser. As markets and assets ascend to more rarified air, this sentiment of concern is healthy as it is abnormal to past conditions of such economic and market gains. We see a continuation of many of the stronger economic tail winds that blew in 2017 through 2018.

The Federal Reserve: The Eagles “New Kid in Town”
There’s talk in the street,
It’s there to remind you,
It doesn’t really matter which side you’re on