But if you go carrying pictures of Chairman Mao, you ain’t going to make it with anyone anyhow – Lennon/McCartney (Revolution) China has been the key to the global economy for the past 30 years. By their willingness to accept marginal, even negative, returns on capital over the past 30 years to grow their manufacturing […]
But what if I fail of my purpose here? It is but to keep the nerves at strain, to dry one’s eyes and laugh at a fall, and baffled, get up and begin again – Robert Browning What if financial regulators organized a massive buying effort to drive the 2008 equity markets higher during the […]
If you are going to walk on thin ice, you might as well dance – Jesse Winchester The S&P500 is close to new all-time highs despite war, tariffs, mass deportations, inflationary pressures, deflationary pressures, civil unrest, and high interest rates. Is it the dawn of a new age or just another day in Bizaro World? […]
The inversion of external compulsion into the compulsion of conscience…produces the machine-like assiduity and pliable allegiance required by the new rationality – Max Horkheimer Perhaps the most amazing part of the past 15 years has been the inversion of cause and effect, not just in the capital markets but also in government, business, and social […]
We have always been taught that navigation is the result of civilization, but modern archeology has demonstrated very clearly that this is not so – Thor Heyerdahl Volatility is coming to global markets this summer. We know it’s close because we’re starting to witness panic amongst global leaders and bankers. The Swiss have cut interest […]
Change brings opportunities. On the other hand, change can be confusing – Michael Porter Asset inflation to protect the banking system and to create a wealth-effect has been the de facto government economic policy since 2009. It worked beautifully but ultimately took our economy and our people to an ugly place that is divided and […]
One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors – Plato We are at the end of many long economic, market, geostrategic, political, and social cycles. As a result, we are forced to look objectively at beliefs that we have long held to prepare […]
The beginning is the most important part of the work – Plato I often make the claim that the government is solely responsible for today’s consumer inflation and not the Federal Reserve but I fear I haven’t explained it well enough in past missives. I’ll try to explain my point in this piece. First of […]
Many of life’s failures are people who did not realize how close they were to success when they gave up – Thomas A. Edison We’re starting to see outright panic in the global economy. For the past 15 years, wherever the underlying economy started to fracture, we would get rallies that signaled the opposite of […]
