by Chris Gaffney
Good morning and happy Friday. As is the custom when we pfill in for Chuck on the Pfennig, Frank has sent me an excellent introduction to today’s newsletter – so take it away Frank:
A few weeks ago in the Sunday Pfennig I talked about straight lines, and changing course. I recall from my summers working on the farm that straight lines are the most efficient when mowing a pasture or doing anything else involving tractors – the less turns the better. As I was walking in to work Thursday I thought of that too. There are many possible routes I could use, several somewhat shorter than the one I take. But straight lines come into play again – the route that is close to the shortest but where I can have the longest stretches with straight lines uninterrupted by street crossings or other barriers is the fastest. It also was and is my view that the straight line that was the strong US dollar has changed to one that will trace a decline over the next several years.