Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Well, hello and welcome to the Dividendin Cafe.

I am recording from my house in Newport Beach because I am running to the airport when I am done.

We'll be meeting with some clients this afternoon and then speaking at a conference in San Francisco tomorrow.

And so in the meantime, I just got done taping for Varney on Fox Business.

And I'm going to be taping when I'm done

with this for Wall Street Week with Maria Barthromo, which tapes, which airs on Friday night,

and I think they air it over the weekend.

So I'm wrapping these things up and then heading to the airport, And yet I really have enjoyed what Dividend

Cafe is going to be about here today. The writing and message around the Fed is hardly something

new for those who listen to or read, watch Dividing Cafe frequently.

My beliefs are well known about the fact that central banking and monetary policy

are a significant element of what is now happening in macroeconomics, and I don't say

that as a good thing.

I say it as a concerning thing.

And yet I wanted to just sort of give a kind of high level understanding as to what I think is the heart of the matter with the Fed.

And then, of course, what that means and ought to mean and needs to mean for investors.

So I go back to a certain kind of economics 101 with this, that I do believe

in certain key understandings or first principles being elemental to how one will understand

economics. And among those, I think there is a sort of antithesis between, and this is really a

20th century economic fight that is most certainly continued here in the first 20 plus years of

this 21st century, between risk takers and central planners.

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