Economy

In a world where machines can make perfect burgers, there’s no need for $15-an-hour burger flippers. But the solution, basic income, is more science fiction than fact.

Price discovery. Never heard the term? Remember it, because it explains the logic defying melt-up the market is going through right now.

Since 1920, only six presidents have served a full two terms, or eight years. Obama is about to make it seven, resulting in a rare market cycle with an ominous outlook.