A New Golden Age?
Big Men think Big. And as with Louis 14th’s Versailles, or Mussolini’s Coloseo Quadrato, their projects signal the majesty of their creators…but not necessarily their good taste.
Stabbed in the Back
Stabbed in the Back
The path to bankruptcy and financial chaos is well signposted and well-trod. The Big Man did not discover it. He merely stayed on it.
The Generals and a $30 trillion Retreat
The Generals and a $30 trillion Retreat
More than half of the stock market wealth is unsupported by real output. The total market cap of US stocks is around $60 trillion. Look for a $30 trillion loss when the bubble finally deflates.
The Sound and the Fury
The Sound and the Fury
The numbers do not at all mean what most people think they mean. But at least they were supposed to be misleading on a non-partisan basis…giving false signals to both Republicans and Democrats alike
Too Much of a Big Nothing
Too Much of a Big Nothing
So much investment has gone into AI that anything less than spectacular results will look like failure. One estimate is that the Mag 7 would have to make $600 billion in revenue to make sense.
Fire and Ice
Fire and Ice
Central planning is always a mistake, in the sense that it makes most people worse off. It is not a mistake for those who do the planning. The feds and their cronies get more money and more power.
Crackpot Economics
Crackpot Economics
Crackpot Experiment Number One gave the feds greater control of our money, with the inevitable undesirable results. Crackpot Experiment Number Two has the feds taking over trade.
The Information Problem
The Information Problem
The internet is a mess — filled with lies, distortions and time wasters. For every page of the periodic table, there are thousands of pages of fake news, claptrap science, and kitten videos.
The Dog Deals of Summer
The Dog Deals of Summer
Dogs don’t pay tariffs. Inanimate objects don’t pay them. In the end, all government revenues must come from The People.
Something for Nothing
Something for Nothing
The value of a pick-up truck doesn’t go down when you start the engine. ‘Ghost wealth,’ on the other hand, drives away on its own.
