To finish up the discussion of the economic context of net neutrality that I started in Monday’s post, let’s take a look at the second half of the issue. Monopoly power, which I discussed in yesterday’s post, is a problem—but maybe a short-lived one. If you take away the monopoly part of it, is charging more for some users really all that bad? Not really.

As I mentioned at the end of this Monday’s post, one conflict with net neutrality is between use-based pricing—ordering and paying for one service at a time—and the all-you-can-eat buffet. This is a pretty clear distinction, with different value propositions for each. But what makes it interesting and complex, in an economic sense, is the effect of monopoly power.

In my latest Market Thoughts video, I discuss the U.S. economy, the global markets, and the recent economic rebound from earlier this year.

I am at the Commonwealth Leaders Conference this week, at one of the most beautiful properties I have ever seen. So, of course, I am sitting in a conference room listening to economic presentations. But I’m okay with that.

One of the great things about conferences like this one is that they offer the opportunity to listen to a group of sponsors present some of their most compelling investing ideas. I heard a very interesting point this morning that I’ve noted previously but not paid sufficient attention to: The return from bonds (in aggregate) is almost always very close to the initial yield.

The issue of “net neutrality” falls into the “boring but important” category that most of us normally ignore. Along with solar energy subsidies, social security wage bases, and other recondite things, it’s not visible every day but, nevertheless, does and will affect our lives.

Lost in the hand-wringing over whether, when, and how quickly the Federal Reserve will raise interest rates, something very interesting is happening in the rest of the world.

In many countries in Europe—including, for the first time, Germany—interest rates have gone negative.

One of the coolest talks I’ve ever seen at a conference was by a professional pickpocket named Apollo Robbins. (You can see his TED talk here.) Watching someone steal wallets, watches, and even glasses from people—on stage, in full view of everyone, and after warning the victim what was about to happen—redefined my idea of how our perceptions work.

Over the weekend, we saw one of the major risk factors in the world take a step back from the brink. Greece and Germany essentially agreed to disagree for the next couple of months, giving the Greeks enough rope to either weave a ladder down (the Greek version) or hang themselves (the German version).

All eyes (at least in the economics world) are on Janet Yellen today as she sits down to update Congress on what the Federal Reserve is doing.

What will she say? When are rates going up?

I’ve maintained for some time that the U.S. labor market is doing very well. Although it's too soon to call it a "boom," that isn’t out of the question given job-creation levels unseen since the mid-1990s and a drop in the unemployment rate back to normal levels.