The hall took some time coming to order. Old friends saying hello, moving without hurrying to their places. The same seats every time, which made it easier to spot those choosing not to attend. 

Today is March 25th, 2024. I’m writing this piece in my office, watching the pregame commentary for the Iowa Women’s Basketball team before their matchup against West Virginia. Tonight will be Caitlyn Clark’s last home game at Carver Hawkeye Arena, and like a lot of people across the country, I will tune in to watch her team (hopefully) advance to the Sweet Sixteen.

That ended well. Thank goodness.

It was a year to be patient. Financial markets struggled to regain ground from the prior year’s losses for much of 2023, swooned in the fall and then came back to make (most) things right during the last quarter - at least for those who held their financial assets the whole year. 

Decisions were made. Some were reasonable, others less so.

With the world’s economy collapsing in the wake of the COVID outbreak and the resulting clampdown on activity, governments flooded their economies with cash while central banks pushed rates as low as possible. It worked: there was no Great Depression of 2020.