Review: The Complacent Class: The Self-Defeating Quest for the American Dream by Tyler Cowen should put some fear in American optimists. (WSJ)

Quote of the Day

"Bubbles are like snowflakes. No two are exactly alike, but they all share similar features; innovation, a run up in price, increased volatility, and expanding multiples, to name a few."

(Michael Batnick)

Chart of the Day

Let the games begin: Snap ($SNAP) goes public at $17 a share.