What Happens Next
It’s not hard for us to imagine what might happen if Donald Trump were to have direct control of Fed policy. He’s already said the Fed should cut rates by 300 basis points.
Trade Squashing
Trade Squashing
Now we’re going in the other direction…squeezing off trade as if we were kinking a garden hose. And for reasons that often have little to do with trade itself.
Fuji Bomb
Fuji Bomb
The feds’ deficits are clearly a mistake But it will take many years for the harm to show up. The consequences, such as they are, will likely fall on our children and grandchildren, not on ourselves.
A Visit to Jersey
A Visit to Jersey
We went to visit a friend, and stayed the weekend to visit the island.
A Week of Marvels
A Week of Marvels
The empire has entered a dark, degenerate phase typical of a declining empire
She Will Destroy Us All
She Will Destroy Us All
As the ancients put it, no man ever born of woman ever survives. And none ever gets through his life without making mistakes. Vanity, hatred, envy — the sins to which flesh is heir — always show up.
Imperial Mountain
Imperial Mountain
In the Great Depression, we went broke and stood in food lines. History – that tart – always gets what she wants. So what do we do now?
By the Grace of God
By the Grace of God
Investing is always about tomorrow. Every recommendation…every analysis…every newsletter editor tries to look ahead in order to take advantage of it…or protect himself from it.
The Curious Case of Fake GDP
The Curious Case of Fake GDP
Fake growth produces high asset prices, increased sales and profits, and raises debt levels. It distorts the economy…uses up precious time and resources (capital!)…and actually makes us poorer.
Ghost Nation
Ghost Nation
Ultimately, output depends on someone putting out. But who? Native-born American women are not having enough children to keep up.
