Mergers generate substantial synergies.

Reasonable mergers generate substantial synergies, so that provides for earnings and cash-flow growth even if it doesn't provide for revenue growth, and I think that's a big driver.

Broward County is the first county of substantial size to do so. The 10 largest counties generate 80 percent of the work.

The Fed is the major U.S. firefighter. It's not the Treasury. It's not the Congress. We certainly saw that vividly in 2008.

Housing works like a trampoline. When it is pushed down far enough and long enough, it will eventually snap upward very powerfully.

The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.