Storm Clouds
Sooner or later, the stock market bubble has to deflate. It can develop a slow leak, with rising inflation gradually undermining real values. Or, it can just go ‘pop.’
What Happened Next
What Happened Next
Sometime in the future, the stockholders’ good luck is likely to vanish. Stocks have real value. That real worth — the present value of future earnings — must ultimately be expressed in prices.
Here Comes Trouble
Here Comes Trouble
There’s a big difference between having the best growth rates and having the worst. And if you don’t know which you have, you’re probably headed to trouble. Which is exactly where the US is headed.
Shutdown
Shutdown
Both the stock market and the economy are now growing — but only because of a whirligig of ‘capex’ spending on AI…which is most likely money down the drain.
Volare
Volare
No time for serious thinking about the gold standard or the end of the empire (you can thank us later!) Instead, we’ll just tell you about something you’ve been wondering about for years — French weddings.
Roll Out the Barrel
Roll Out the Barrel
The real promise of gold is not just a rate cut or two…and not really ‘easier borrowing costs.’ Gold may be a good gamble now…but in the long run it is just a way not to lose money.
Off the Rails
Off the Rails
The gold standard came into being in the 18th century. It got gassed in WWI. Then, after WWII, it was re-established, sort of. The dollar was made the key financial reserve. It was linked to gold.
Two Guys Named Stephen
Two Guys Named Stephen
What Miran is describing is from the ‘free lunch’ school of economics, where the US can receive billions in tariff tax income without taking anything away from the consumers and producers who pay it.
Long Haul Gold
Long Haul Gold
Gold is not an investment; it’s a place to put your money while you wait for a good investment to come along. It’s not a wealth creator; it’s a wealth preserver.
‘You can’t get there from here.’
‘You can’t get there from here.’
Wealth comes from profit-making businesses. The profit is the measure of how much wealth they create; it is the difference between the cost of doing something…and what that thing is actually worth.
