Social order at the expense of liberty is hardly a bargain – Marquis de Sade The Bretton Woods conference took place in July 1944 where the soon-to-be victors of WWII hammered out a new international monetary system. For the American worker, it was something akin to Robert Johnson meeting the Devil at the Crossroads in […]
Patience is bitter, but its fruit is sweet – Jean-Jacques Rousseau I would have quoted the Foghat song from 1975 but the lyrics are so non-sensical that I went with Rousseau. With that said, it’s good advice for those who are looking to prosper from a market downturn. The fundamentals may be moving in a […]
No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself but for others, or failing therein, it ceases to be profitable and ceases to exist – Calvin Coolidge The emotions surrounding Trump’s first three weeks in office are like drugs. It’s an upper if […]
A claim for equality of material position can be met only by a government with totalitarian powers – Friedrich August von Hayek If there is one quote that thoroughly explains the outcome of the recent presidential election in the US, it is this classic by von Hayek. I believe that above all else, people voted […]
It is only the farmer who faithfully planted seeds in the Spring, who reaps a harvest in the Autumn – BC Forbes I’ve hesitated to write following the election because there is too much noise around Trump’s cult of personality by both lovers and haters. Hopefully, enough time has passed for us to delve into […]
Government bureaucracy has become extremely powerful over the past 30 years in Western economies. Efforts to reign in this power will face extreme resistance.
We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men – George Orwell The rally in China portends its collapse, not its recovery. The Chinese Politburo is in a state of panic because the Chinese economy continues to revert to the mean. It’s why they […]
In order to govern, the question is not to follow out a more or less valid theory but to build with whatever materials are at hand. The inevitable must be accepted and turned to advantage – Napoleon Bonaparte The People’s Bank of China cut the reserve requirement for Chinese banks by 50 bps on Tuesday, […]
Nature does not hurry, yet everything is accomplished – Lao Tzu The US economy is headed for the long-awaited decline but people who are betting on a collapse this year are going to be disappointed. There is too much fiscal money still coursing through the economy’s veins for collapse to occur that quickly. Instead, it […]
