Observation and analysis over time have revealed important relationships among economic and financial variables and the resultant impacts on investor returns. Realities generally conform to theory; for example, higher economic growth supports higher corporate earnings which support higher stock prices. Unfortunately, outcomes often are less certain as relationships themselves are complex. Changes in variables invite both intended and unintended reactions. Furthermore, reaction times can vary widely. With political and geopolitical changes in the wind, a look at some important relationships can provide perspective and investment implications.